=XBiotech (XBIT) : ending late-stage trial of colorectal cancer treatment

• XBiotech's stock plunges on Fri June 9 after ending late-stage trial of colorectal cancer treatment recommends ending late-stage trial of colorectal cancer treatment

The Austin, Texas-based firm on June 9 said it was discontinuing its Phase 3 XCITE study for its candidate antibody therapy for the treatment of colorectal cancer based on a second interim analysis by an independent data monitoring committee.

While the committee had no safety concerns from the analysis, it "recommended the early termination of the study since the findings were not sufficient to meet efficacy or the threshold for continuation," XBiotech said.