NASDAQ listed XTL Biopharmaceuticals Ltd ADR (XTLB)was founded in 1993 and became a public company in 2000. It focuses on the acquisition and development of late-stage medication product candidates for the treatment of unmet clinical needs.
The Company of the Healthcare sector stock surged dramatically more than 170% to $7.82 in the pre-market session despite no publication was released by the company.
So, what do we want no know about XTL Biopharmaceuticals (XTLB)?
The XTLbio pipeline mainly emphasizes systematically identifying, validating, and in-licensing therapeutic candidates with advantages over current therapies and which address unmet medical needs. Today 3 compounds are actively being developed, all in clinical stages.
- hCDR1 is currently undergoing Phase 3 testing at XTL Biopharmaceuticals, and is on the top of their drug development program. New compound hCDR1, acting through an entirely novel mechanism of action, for the management of Systemic Lupus Erythematosus has been generated. Treatment for SLE currently focuses on immune suppressing drugs, such as azathioprine, cyclosporine, corticosteroids and others.
One of the most important factors to consider here is that the FDA has only approved a single treatment for SLE in the last 50 years; it is Benlysta (belimumab), approved back in the year 2011.
- Meanwhile, the Company’s another medicine in process of development is Erythropoietin (rHuEPO), which apparently is in phase 2 of its trial. The development of Recombinant Human Erythropoietin (rHuEPO), a known anemic agent, has the aim of prolonging the survival of patients with advanced Multiple Myeloma. rHuEPO was designated an orphan drug by the FDA in 2011 for the treatment of multiple myeloma blood cancer.
As biotech companies rely on FDA approvals and feedback, investors in the biotech market must be aware of the fact that there can be a long wait when it comes to investment gains.