--- title: "XBiotech tells Nasdaq of audit committee vacancy" url: "https://aibio.space/news/xbiotech-tells-nasdaq-audit-committee-vacancy-after-director-retires/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-04-07" section: "Listings" tickers: "NASDAQ:XBIT" source: "https://www.sec.gov/Archives/edgar/data/1626878/000117184325002067/f8k_040725.htm" summary: "W. Thorpe McKenzie retired from the board effective March 27, 2025. XBiotech will run one-member audit and compensation committees for now." --- By the aibio.space news desk. Sources - [XBiotech Inc. 8-K (2025-04-07)](https://www.sec.gov/Archives/edgar/data/1626878/000117184325002067/f8k_040725.htm) [XBIT](https://aibio.space/companies/xbiotech/) 2025-04-07 # XBiotech tells Nasdaq of audit committee vacancy after director retires Tickers [XBIT](https://aibio.space/companies/xbiotech/) W. Thorpe McKenzie retired from the board effective March 27, 2025. XBiotech will run one-member audit and compensation committees for now. ## Key facts - **Company**: XBiotech Inc. (NASDAQ: XBIT) - **News type**: Listings - **Primary source**: [XBiotech Inc. 8-K (2025-04-07)](https://www.sec.gov/Archives/edgar/data/1626878/000117184325002067/f8k_040725.htm) *The Capitol dome and spring blossom. Photo: Angie Drake, CC0, via Wordpress. The picture shows the field, not the companies named.* ## The notice XBiotech Inc. (Nasdaq: [XBIT](https://aibio.space/companies/xbiotech/)) told Nasdaq on April 1, 2025 that a director's retirement had left vacancies on two board committees. The company reported the matter in an 8-K dated April 7, 2025, under Item 3.01, the item for notices of failure to meet a continued listing rule. W. Thorpe McKenzie retired from the board effective March 27, 2025. Jan-Paul Waldin, an independent director, continues on the audit and compensation committees, and each committee now has one member. XBiotech says it will keep a one-member audit committee under Nasdaq Rule 5605(c)(4), and a one-member compensation committee under Rule 5605(d)(4). It intends to fill both seats within the time those rules allow. The 8-K does not say when that will happen, and it names no candidate. It is signed by John Simard, chief executive officer and president. The filing does not explain how the committees' work will be handled until a second member joins. It says the retirement was previously reported in an 8-K filed April 1, 2025. ## The business behind the board XBiotech is incorporated in British Columbia and based in Austin, Texas. It develops what it calls True Human antibodies, which it says are derived from human donors. Its annual report on Form 10-K for 2024 describes a focus on blocking interleukin-1 alpha, or IL-1a, a protein the company says contributes to arthritis, stroke, heart attack and cancer. The company's largest cash event came in 2019. It sold its bermekimab antibody for $750 million in cash and $600 million in potential milestone payments. Under that deal, XBiotech agreed not to develop anti-IL-1a antibodies for dermatology. The 10-K says the sale produced $750 million in income between December 30, 2019 and June 30, 2021. It also says XBiotech has returned $495 million to shareholders since 2020 through stock repurchases and dividends, and that the remaining cash funds ongoing operations under a multi-year business plan. ## The pancreatic cancer data The company's lead clinical story is Natrunix, an anti-IL-1a antibody it tested in advanced pancreatic cancer alongside chemotherapy. The 10-K says the study was randomized, double-blinded and placebo-controlled, and that it was sized for 60 subjects to give a preliminary read on efficacy and safety. The last subject had a final visit in February 2024, and one subject remains in an open-label extension. XBiotech announced a preliminary analysis on June 18, 2024. According to the company, patients on Natrunix had fewer hospitalizations, fewer serious adverse events, longer progression-free survival and less severe diarrhea than patients on placebo. The company believes the effect is not specific to pancreatic cancer and could appear in other solid tumors treated with chemotherapy. Those are preliminary findings from a study sized for 60 patients, and the company's own description gives no statistical measures for them. The company says it has been weighing an FDA regulatory path. It points to G-CSF, a drug Amgen developed and that was approved in 1991, as an analogue for its claim about a broad effect. ## What the notice leaves open The 8-K gives no timetable beyond the rule's own limit and no name for the new committee members. The company's cash history is one of a 2019 sale that brought in $750 million, with $495 million since returned to shareholders. The 8-K names no outside counsel, and its only account of the Nasdaq matter is the company's own report of the notice. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story XBIT XBiotech Inc. NASDAQ ยท United States Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/xbiotech-tells-nasdaq-audit-committee-vacancy-after-director-retires/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "XBiotech tells Nasdaq of audit committee vacancy", 2025-04-07, https://aibio.space/news/xbiotech-tells-nasdaq-audit-committee-vacancy-after-director-retires/