$XBIT: XBiotech presented Phase 3 data for Xilonix that showed significant clinical response for multiple symptoms associated with disease progression and overall survival on 9:05 PM ET 7/4/16 | Briefing.com, however the stock dropped from $25 to $14 last 2 days.

Co presented positive results from a pivotal Phase III trial of Xilonix, the company's lead monoclonal antibody immunotherapy for the treatment of advanced colorectal cancer.

In the study, Xilonix-treated patients with advanced disease and multiple symptoms known to inversely correlate with overall survival experienced a 76% relative increase in clinical response rate, a novel measure of anti-cancer activity, after 8 weeks of therapy compared to placebo (33% vs. 19%). In addition, clinical response correlated with improved overall survival. Among responders (in both treatment and placebo arms), clinical response was associated with a 2.7-fold increase in overall survival (11.5 versus 4.2 months in responders vs. non-responders, respectively). Overall survival was not compared between treatment arms because after 8 weeks, all patients were eligible to receive study drug. Treatment with Xilonix was well tolerated, with an adverse event profile comparable to placebo.