XBiotech Inc. (NasdaqGS:XBIT) announces a share repurchase program. Under the program, the company will repurchase up to $420 million worth of its common shares. The shares will be repurchased at a price not greater than $33 per share and not less than $30 per share. The shares that are acquired in the offer will immediately be cancelled and restored to the status of authorized but unissued shares. The offer will be funded from the existing cash resources and proceeds from Janssen transaction. The offer provides liquidity for company's shareholders and also provides an efficient way to sell their shares without incurring brokerage fees or commissions associated with open market sales. If more than $420 million worth of shares are properly tendered and not properly withdrawn the company will purchase all shares tendered at or below the final purchase price on a pro rata basis. The offer will expire on February 12, 2020, unless extended. As of January 13, 2020, the company had 42,365,250 shares issued and outstanding.