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what it is
XBiotech makes antibody drug candidates for inflammatory and infectious diseases.
how it gets paid
Last year Xbiotech made n/a in revenue. Inflammatory diseases was the main engine at $0M, or 40% of sales.
what just happened
FY2024 EPS was -$1.26, and the latest quarter still showed a -$0.06 loss.
At a glance
C++ balance sheet — some cracks in the foundation
20/100 earnings predictability — expect surprises
-$1.26 fy2024 eps est
$4M fy2022 rev est
1.05 beta
xvary composite: 40/100 — below average
What they do
XBiotech makes antibody drug candidates for inflammatory and infectious diseases.
Most biotechs rent pieces of the machine. XBiotech runs it on a 48-acre campus with GMP manufacturing, research labs, and clinical operations. You get control, but with 92 employees, this is a small machine that still needs a real product.
How they make money
n/a
annual revenue
Inflammatory diseases
$0M
Infectious diseases
$0M
IL-1α therapies
$0M
Manufacturing and QC
$0M
The products that matter
investigational antibody therapies
IL-1α Pipeline
$70M market cap rides here
this pipeline is carrying most of the story. with only $4M of annual revenue and a $45.5M annual loss, the value of the company depends on whether these antibodies generate credible clinical data.
binary catalyst
antibody discovery platform
True Human antibodies
science before sales
the platform is the pitch: clone antibodies from naturally immune people and turn them into drugs. For you as a shareholder, the hard part is simple — a $70M company still needs to prove that idea can become a business.
no moat yet
Key numbers
-$1.26
fy2024 eps est
$4M
fy2022 rev est
n/a
trailing p/e
n/a
dividend yield
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for XBIT right now.
source: institutional data · return history unavailable
What just happened
missed estimates
FY2024 EPS was -$1.26, and the latest quarter still showed a -$0.06 loss.
TTM revenue sat at $0M, so the story is losses without a sales cushion. Quarterly EPS in 2024 ran -$0.33, -$0.43, -$0.16, and -$0.34.
$0M
revenue
$1.26
FY2024 EPS
$0.06
latest EPS
the number that mattered
The -$1.26 FY2024 EPS loss is the number that matters. It was worse than -$0.81 in 2023 and keeps the burn story alive.
source: and Yahoo Finance consensus
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What could go wrong
the top risk here is clinical failure before commercialization. XBiotech is not defending an established business. It is trying to prove one exists.
med
No product revenue
The snapshot shows $4M of annual revenue, but no product revenue supporting a real commercial engine. That means the pipeline is not being validated by customers yet.
If commercialization keeps slipping, the stock remains valued on potential alone. Potential does not pay the bills.
med
Clinical readout risk
The IL-1α pipeline is carrying most of the equity story. If the planned Phase 1–2a work fails to start on time, or starts and disappoints, the bull case loses its core evidence.
At a $70M market cap, there is not much else for investors to fall back on.
med
Cash burn and dilution
A $45.5M annual loss is large relative to a $70M market cap. If spending stays near that level, the company will likely need outside capital before it can become self-sustaining.
That usually means dilution, and dilution is what happens when the science needs more time than the balance sheet has.
med
Volatility can outrun fundamentals
Price stability is 10 / 100 and the stock traded between $2 and $4 over the last 52 weeks. In a name this small, sentiment can move faster than the underlying science.
You can be directionally right about the science and still get a painful entry, exit, or financing outcome.
A $45.5M annual loss against a $70M market cap means one more year that looks like the last one would consume value equal to roughly 65% of today’s equity price.
source: institutional data · regulatory filings · risk analysis
Pay attention to
balance
loss versus market cap
The annual loss is $45.5M against a $70M market cap. If that gap does not narrow, the financing question gets louder.
calendar
next earnings report
Estimated for Tuesday, March 17, 2026. You want timing on trial activity and any clue that spending is becoming more disciplined.
catalyst
phase 1–2a trial initiation
Management is targeting the first half of 2026 in Australia. Starting on time matters because delays stretch the cash story even if the science stays intact.
risk
whether revenue stays symbolic
The current revenue base is only $4M. If future updates still show minimal revenue and large losses, you are not getting closer to a real business.
Analyst rankings
earnings predictability
20 / 100
in human-speak, analysts do not expect clean, steady numbers here. this is what early-stage biotech looks like.
balance sheet grade
C++
Below average balance sheet grade. Translation: there is enough support to keep operating, but not enough to ignore financing risk.
risk rank
3
This broad score looks middle-of-the-road, but the business model is not. Pre-commercial biotech can look calmer in a ranking than it feels in real life.
beta
1.05
Beta says it moves roughly with the market. The 10 / 100 price stability score says the path is a lot messier than that sentence sounds.
source: institutional data
Institutional activity
institutional ownership data for XBIT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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