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XBiotech Inc . (NASDAQ:XBIT), a biotechnology company with a market capitalization of $80.49 million and currently trading near its 52-week low, announced Tuesday the appointments of Dr. Thomas Kündig and Craig Rademaker to its board of directors, effective immediately. Dr. Kündig will also serve on the Compensation Committee, while Mr. Rademaker will join the Audit Committee. Their terms will extend until the company’s 2025 Annual General Meeting.
According to a press release statement, Dr. Kündig is the Director of the Department of Dermatology at the University Hospital Zurich and a Full Professor at the University of Zurich. He has more than 30 years of experience in clinical care, research, and leadership, with recognized work in immunodermatology and cancer immunotherapy. Dr. Kündig’s previous board roles include positions with the Swiss Society for Dermatology & Venereology and the European Dermatology Forum.
Mr. Rademaker leads a private equity firm with interests in life sciences, logistics, industrial, and energy sectors, managing assets over $5 billion and more than 7,500 employees. He brings over 25 years of experience in finance, capital markets, and public company operations, including roles in institutional and retail brokerage, principal trading, and mergers and acquisitions. Mr. Rademaker holds a B.Sc. in economics from Simon Fraser University.
Following these appointments, the Audit Committee will comprise Jan-Paul Waldin, Dr. Peter Libby, and Mr. Rademaker. The Compensation Committee will include Mr. Waldin, Dr. Libby, and Dr. Kündig. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 29.15, though it faces profitability challenges with negative earnings in the last twelve months.
The information in this article is based on a press release statement included in a filing with the Securities and Exchange Commission. InvestingPro analysis indicates the company’s overall financial health score is FAIR, with additional insights available through the premium subscription service.
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