May 19, 2017 / 12:59 PM / in 5 months

BUZZ-XBiotech Inc: Slumps on negative EMA panel recommendation

** XBiotech’s shares sink 10.4 pct to $7.90 in light premarket trading

** Says European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CMPH) gave a negative opinion for its lead drug, Xilonix; will request EMA for re-examination (bit.ly/2q153RU)

** Last month, EMA rendered a negative “trend” vote for Xilonix for the treatment of advanced colorectal cancer

** Shares of other drug developers including Valeant Pharmaceuticals Inc, Sanofi, Novartis and Merck & Co were marginally up after receiving positive recommendation from the EMA

** Up to Thursday’s close, XBIT had fallen about 13 pct YTD

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