XBiotech Shares Surge On FDA Emergency Use Authorization Of Convalescent Plasma

(RTTNews) - XBiotech Inc. (XBIT) announced the FDA issued an emergency use authorization for COVID-19 Convalescent Plasma as a COVID-19 treatment, opening the door for the company's antibody screening technology used to identify Convalescent Plasma. Under Collaboration, BioBridge Global will be using XBiotech's COVID-19 antibody test to identify the convalescent blood products.

XBiotech said the Agency's preliminary findings show that the use of convalescent plasma (or blood with natural anti-COVD-19 antibodies from patients that recovered from the infection) is safe and effective in treating COVID-19.

Shares of XBiotech were up 14% in pre-market trade on Monday.