Note 9 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Commitments Disclosure [Text Block]

9.

Commitments and Contingencies

On

January 

12,

2008,

the Company entered a lease agreement to lease its facility in Austin, Texas, U.S. On

September 

15,

2010,

the Company entered into a

second

lease agreement to lease additional space in Austin, Texas, U.S. On

March 

20,

2013,

the company extended the lease for another

21

months with the same terms and rental rates as the current leases. On

February 28, 2015,

the Company extended the leases for another

four

years with

two

years early termination right. The future minimum lease payments as of

December 

31,

2018

are approximately

$79,000

for the fiscal year

2019.

Rent expense was approximately

$782,000,

$741,000

and

$761,000

for the years ended

December 

31,

2018,

2017

and

2016,

respectively.

On

October 23, 2018,

the honorable Judge Dustin M. Howell of the

459th

Travis County District Court has issued a letter ruling granting the Company’s Motion to Dismiss the securities class action complaint brought against XBiotech (Case D-

1

-GN-

17

-

003063

). The District Court has directed the parties to prepare a formal order memorializing the ruling. Two federal cases were previously filed in the U.S. District Court for the Western District of Texas, but both of those cases have also been dismissed. Therefore, there

no

longer remains any litigation involving the Company.