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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2016	Aug. 12, 2016
Document Information [Line Items]
Entity Registrant Name	XBiotech Inc.
Entity Central Index Key	0001626878
Trading Symbol	xbit
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		32,442,865
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 64,798,000	$ 91,051,000
Prepaid expenses and other current assets	1,530,000	1,990,000
Total current assets	66,328,000	93,041,000
Property and equipment, net	9,779,000	5,946,000
Building construction in progress	17,094,000	10,371,000
Total assets	93,201,000	109,358,000
Current liabilities:
Accounts payable	8,494,000	4,825,000
Accrued expenses	1,882,000	1,466,000
Total current liabilities	10,376,000	6,291,000
Deferred rent	21,000	17,000
Total liabilities	10,397,000	6,308,000
Shareholders’ equity:
Preferred Stock, no par value, unlimited shares authorized, no shares outstanding	0	0
Common stock, no par value, unlimited shares authorized, 32,428,676 and 32,279,106 shares outstanding at June 30, 2016 and December 31, 2015, respectively	237,523,000	233,902,000
Accumulated other comprehensive loss	(190,000)	(201,000)
Accumulated deficit	(154,529,000)	(130,651,000)
Total shareholders’ equity	82,804,000	103,050,000
Total liabilities and shareholders’ equity	$ 93,201,000	$ 109,358,000

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares outstanding (in shares)	32,428,676	32,279,106

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating expenses:
Research and development	$ 11,216	$ 4,382	$ 19,028	$ 11,167
General and administrative	2,399	2,039	4,835	3,459
Total operating expenses	13,615	6,421	23,863	14,626
Loss from operations	(13,615)	(6,421)	(23,863)	(14,626)
Other loss:
Foreign exchange loss	(7)	(323)	(16)	(232)
Total other loss	(7)	(323)	(16)	(232)
Net loss	$ (13,622)	$ (6,744)	$ (23,879)	$ (14,858)
Net loss per share—basic and diluted (in dollars per share)	$ (0.42)	$ (0.22)	$ (0.74)	$ (0.50)
Shares used to compute basic and diluted net loss per share (in shares)	32,378,412	31,287,855	32,333,199	29,474,783

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net loss	$ (13,622)	$ (6,744)	$ (23,879)	$ (14,858)
Foreign currency translation adjustment	(26)	317	12	219
Comprehensive loss	$ (13,648)	$ (6,427)	$ (23,867)	$ (14,639)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities
Net loss	$ (23,879,000)	$ (14,858,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	350,000	341,000
Share-based compensation expense	2,914,000	2,469,000
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	460,000	(2,560,000)
Accounts payable	1,536,000	144,000
Accrued expenses	416,000	(937,000)
Deferred rent	5,000	7,000
Net cash used in operating activities	(18,198,000)	(15,394,000)
Investing activities
Purchase of property and equipment	(3,602,000)	(726,000)
Expenditure on building construction	(5,172,000)	(1,484,000)
Net cash used in investing activities	(8,774,000)	(2,210,000)
Financing activities
Issuance of common stock and warrants, net		76,025,000
Issuance of common stock under stock option plan	707,000	678,000
Collection of subscription receivable		410,000
Deferred offering costs		325,000
Net cash provided by financing activities	707,000	77,438,000
Effect of foreign exchange rate on cash and cash equivalents	12,000	219,000
Net change in cash and cash equivalents	(26,253,000)	60,053,000
Cash and cash equivalents, beginning of period	91,051,000	57,329,000
Cash and cash equivalents, end of period	64,798,000	117,382,000
Supplemental Information:
Accrued purchases of property and equipment	581,193,000	54,241,000
Accrued expenditure on building construction	$ 1,550,270,000

Note 1 - Organization	6 Months Ended
Note 1 - Organization	Jun. 30, 2016
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization XBiotech, Inc. (“XBiotech” or “the Company”) was incorporated in Canada on March 22, 2005. XBiotech USA Inc., a wholly-owned subsidiary of the Company, was incorporated in Delaware, United States (“U.S.”) in November 2007. XBiotech Schweiz AG, a wholly-owned subsidiary of the Company, was incorporated in Zug, Switzerland in August 2010. XBiotech Japan KK, a wholly-owned subsidiary of the Company, was incorporated in Tokyo, Japan in March 2013. XBiotech GmbH, a wholly-owned subsidiary of the Company, was incorporated in Germany in January 2014. Since its inception, XBiotech has focused on advancing technology to rapidly identify and clone antibodies from individuals that have resistance to disease. At the heart of the Company is a proprietary technical knowhow to translate natural human immunity into therapeutic product candidates. In 2005, the Company began to develop a new framework for commercial manufacturing, using technology that required less capital, fewer operators and provided greater flexibility than standard industry practices. With the manufacturing capability to produce its True Human TM antibody therapy, in 2010 the Company began a clinical trial program. The first clinical trial program at MD Anderson Cancer Center began treating the sickest cancer patients irrespective of tumor type. Soon thereafter, the Company used the same antibody therapy in various clinical studies at treatment centers around the U.S. and abroad to investigate the antibody effect in patients that had vascular disease, leukemia, type 2 diabetes, psoriasis or acne. The Company’s headquarters are located in Austin, Texas. The Company continues to be subject to a number of risks common to companies in similar stages of development. Principal among these risks are the uncertainties of technological innovations, dependence on key individuals, development of the same or similar technological innovations by the Company’s competitors and protection of proprietary technology. The Company’s ability to fund its planned clinical operations, including completion of its planned trials, is expected to depend on the amount and timing of cash receipts from future collaboration or product sales and/or financing transactions.

Note 2 - Significant Accounting Policies

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Significant Accounting Policies [Text Block]

2. Significant Accounting Policies

Basis of Presentation

These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or US GAAP.

These interim unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP, and Securities and Exchange Commission, or SEC, requirements for interim financial statements. In the Company’s opinion, the accompanying unaudited consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting of normal, recurring adjustments, necessary for a fair presentation. Certain information and disclosures normally included in the notes to the annual consolidated financial statements prepared in accordance with GAAP have been omitted from these interim unaudited consolidated financial statements pursuant to the rules and regulations of the SEC. Accordingly, these interim unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and the accompanying notes for the fiscal year ended December 31, 2015, which are included in the Company’s Annual Report on Form 10-K, filed with the SEC on March 30, 2016. The results of operations for the three month and six month periods ended June 30, 2016 are not necessarily indicative of the results to be expected for the year ending December 31, 2016 or for any other period.

Basis of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation.

Use of Estimates

The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported values of amounts in the financial statements and accompanying notes. Actual results could differ from those estimates.

Prior to the completion of its initial public offering in April 2015, the Company utilized significant estimates and assumptions in determining the fair value of its common stock. The board of directors determined the estimated fair value of the Company’s common stock based on a number of objective and subjective factors, including the prices at which the Company sold shares of its common stock to third parties and external market conditions affecting the biotechnology industry sector.

Research and Development Costs

All research and development costs are charged to expense as incurred. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Costs incurred to acquire licenses for intellectual property to be used in research and development activities with no alternative future use are expensed as incurred as research and development.

Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are deferred and capitalized. The capitalized amounts are expensed as the related goods are delivered or the services are performed.

Income Taxes

The Company makes estimates and judgments in determining the need for a provision for income taxes, including the estimation of its taxable income or loss for the each full fiscal year. The Company has accumulated significant deferred tax assets that reflect the tax effects of net operating loss and tax credit carryovers and temporary difference between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Realization of certain deferred tax assets is dependent upon future earnings. The Company is uncertain about the timing and amount of any future earnings. Accordingly, the Company offsets these deferred tax assets with a valuation allowance. The Company may in the future determine that certain deferred tax assets will likely be realized, in which case the Company will reduce its valuation allowance in the period in which such determination is made. If the valuation allowance is reduced, the Company may recognize a benefit from income taxes in its statement of operations in that period. The Company classifies interest recognized pursuant to its deferred tax assets as interest expense, when appropriate.

Share-Based Compensation

The Company accounts for its share-based compensation awards in accordance with ASC Topic 718,

Compensation-Stock Compensation

(“ASC 718”). ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the statements of operations based on their grant date fair values. For stock options granted to employees and to members of the board of directors for their services on the board of directors, the Company estimates the grant date fair value of each option award using the Black-Scholes option-pricing model. The use of the Black-Scholes option-pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the common stock. For awards subject to service-based vesting conditions, the Company recognizes share-based compensation expense, equal to the grant date fair value of stock options on a straight-line basis over the requisite service period.

Share-based compensation expense recognized for the three months and six months ended June 30, 2016 and 2015 was included in the following line items on the Consolidated Statement of Operations (in thousands).

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Research and development	$	587	$	521	$	1,184	$	976
General and administrative	$	511	$	726	$	1,730	$	1,493
Total share-based compensation expense	$	1,097	$	1,247	$	2,914	$	2,469

The fair value of each option is estimated on the date of grant using the Black-Scholes method with the following assumptions:

	Three Months Ended June 30,								Six Months Ended June 30,
	2016				2015				2016				2015
Dividend yield			-				-				-				-
Expected volatility		65%	-	70%			71%			65%	-	70%		68%	-	71%
Risk-free interest rate		1.16%	-	1.51%		1.07%	-	2.42%		1.16%	-	1.82%		1.07%	-	2.42%
Expected life (in years)		5.25	-	6.25		3	-	10		5	-	10		3	-	10
Weighted-average grant date fair value per share			$8.17				$13.01				$6.64				$11.49

No related tax benefits were recognized for the three months and six months ended June 30, 2016 and 2015.

Cash and Cash Equivalents

The Company considers highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents consisted primarily of cash on deposit in U.S., German, Swiss and Canadian banks. Cash and cash equivalents are stated at cost which approximates fair value.

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents. The Company holds these investments in highly-rated financial institutions, and limits the amounts of credit exposure to any one financial institution. These amounts at times may exceed federally insured limits. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company has no off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements.

Fair Value Measurements

The Company follows ASC Topic 820,

Fair Value Measurements and Disclosures

, which establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market date (observable inputs) and the Company’s own assumptions (unobservable inputs). The hierarchy consists of three levels:

•

Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities.

•

Level 2—Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability.

•

Level 3—Unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date.

At June 30, 2016 and December 31, 2015, the Company did not have any assets or liabilities that are measured at fair value on a recurring basis. The carrying amounts reflected in the balance sheets for cash and cash equivalents, prepaid expenses and other current assets, accounts payable, and accrued expenses approximate their fair values at June 30, 2016 and December 31, 2015, due to their short-term nature.

Property and Equipment

Property and equipment, which consists of land, construction in process, furniture and fixtures, computers and office equipment, scientific equipment, leasehold improvements and vehicles are stated at cost and depreciated over the estimated useful lives of the assets, with the exception of land and construction in process which are not depreciated, using the straight line method. The useful lives are as follows:


• Furniture and fixtures (in years)	7

• Office equipment (in years)	5

• Leasehold improvements	Shorter of asset’s useful life or remaining lease term

• Scientific equipment (in years)	5

• Vehicles (in years)	5

Costs of major additions and betterments are capitalized; maintenance and repairs, which do not improve or extend the life of the respective assets, are charged to expense as incurred. Upon retirement or sale, the cost of the disposed asset and the related accumulated depreciation are removed from the accounts and the resulting gain or loss is recognized.

Building Construction in Progress

Building construction in progress consists of the accumulated expenditures to build the new XBiotech manufacturing facility located in Austin, Texas, which includes the cost for land clearing, architecture design, engineering services, city permits, installation of utilities, construction materials and labor and construction management. Once the building is completed and placed into service, the Company will commence depreciation over its estimated useful life. As of June 30, 2016, the Company plans to spend $2.2 million more on construction and $6.7 million more on equipment, based on the forecast.

Impairment of Long-Lived Assets

The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360,

Property, Plant and Equipment

. Potential impairment is assessed when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recovered. Recoverability of these assets is assessed based on undiscounted expected future cash flows from the assets, considering a number of factors, including past operating results, budgets and economic projections, market trends and product development cycles. If impairments are identified, assets are written down to their estimated fair value. The Company has not recognized any impairment through June 30, 2016.

Foreign Currency Transactions

Certain transactions are denominated in a currency other than the Company’s functional currency of the U.S. dollar, and the Company generates assets and liabilities that are fixed in terms of the amount of foreign currency that will be received or paid. At each balance sheet, the Company adjusts the assets and liabilities to reflect the current exchange rate, resulting in a translation gain or loss. Transaction gains and losses are also realized upon a settlement of a foreign currency transaction in determining net loss for the period in which the transaction is settled.

Comprehensive Income (Loss)

ASC Topic 220,

Comprehensive Income

, requires that all components of comprehensive income (loss), including net income (loss), be reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources, including unrealized gains and losses on investments and foreign currency translation adjustments.

Segment and Geographic Information

Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision making group, in making decisions on how to allocate resources and assess performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Company and the chief operating decision maker view the Company’s operations and manage its business as one operating segment. Substantially all of the Company’s operations are in the U.S. geographic segment.

Net Loss Per Share

Net loss per share (“EPS”) is computed by dividing net loss by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net loss by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include stock options, is computed using the treasury stock method.

Subsequent Events

The Company considered events or transactions occurring after the balance sheet date but prior to the date the consolidated financial statements are available to be issued for potential recognition or disclosure in its consolidated financial statements.

The Company has evaluated subsequent events through the date the consolidated financial statements were available for issuance for potential recognition or disclosure in its consolidated financial statements

Recent Accounting Pronouncements

In August 2014, the FASB issued ASU 2014-15

, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern

. The ASU is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. For all entities, the ASU is effective for annual periods ending after December 15, 2016 and interim periods within annual periods beginning after December 15, 2016. The Company is currently evaluating the effect that the adoption of ASU 2014-15 will have on its financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The core change with ASU 2016-2 is the requirement for the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the effect that the adoption of ASU 2016-02 will have on its financial statements.

In March 2016, the FASB issued ASU No. 2016-09, “Improvements to Employee Share-Based Payment Accounting,” or ASU 2016-09, which amends ASC Topic 718, “Compensation – Stock Compensation.” ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard is effective for fiscal years beginning after December 31, 2016, and interim periods within those years and early adoption is permitted. The Company is currently evaluating how the adoption of this standard will impact its consolidated financial statements.

Note 3 - Income Taxes	6 Months Ended
Note 3 - Income Taxes	Jun. 30, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	3. Income Taxes The Company did not provide for income taxes in 2016 because the Company has projected net loss for all jurisdictions for the full year 2016. The Company has recorded a full valuation allowance for its net deferred tax assets in 2016 and 2015.

Note 4 - Common Stock	6 Months Ended
Note 4 - Common Stock	Jun. 30, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	4. Common Stock Pursuant to its Articles, the Company has an unlimited number of shares available for issuance with no par value. From January to March 2015, warrants to purchase a total of 164,999 shares of common stock were exercised at $15.00 per share for a total of $2.4 million in proceeds. Also, the Company received approximately $8,000 in January 2015 from 15,000 exercised stock options at $0.55 per share. On April 17, 2015, the Company sold 4.0 million shares of common stock at $19.00 per share in its Initial Public Offering (“IPO”) resulting in net proceeds of $70.6 million. From April to June 2015, excluding the IPO, the Company issued 208,333 shares of common stock for total proceeds of approximately $3.1 million from the exercise of warrants by common stock shareholders. Also, the Company received $0.7 million from 106,000 exercised stock options. In July 2015, 12,000 stock options were exercised at a price of $2.50 for total proceeds of $30,000. From October through December 31, 2015, 226,141 shares of common stock were issued upon the exercise of stock option at the price $ 0.53 to $10 per share for a total of $639,253. In January 2016, 13,000 stock options were exercised at a price of $2.50 for total proceeds of $32,500 on January 28 th . From April to June 2016, 136,570 shares of common stock were issued upon the exercise of stock options at a price of $ 2.50 to $15 per share for a total of $674,758.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Note 5 - Common Stock Options

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

5. Common Stock Options

On each of November 11, 2005 and March 13, 2015, the board of directors of the Company adopted a stock option plan (collectively, “the Plans”) pursuant to which the Company may grant stock options to directors, officers, employees or consultants of the Company or an affiliate or other persons as the Compensation Committee may approve.

All options will be non-transferable and may be exercised only by the participant, or in the event of the death of the participant, a legal representative until the earlier of the options’ expiry date or the first anniversary of the participant’s death, or such other date as may be specified by the Compensation Committee.

The term of the options is at the discretion of the Compensation Committee, but may not exceed 10 years from the grant date. The options expire on the earlier of the expiration date or the date three months following the day on which the participant ceases to be a director, officer or employee of or consultant to the Company, or in the event of the termination of the participant with cause, the date of such termination.

The number of common shares reserved for issuance to any one person pursuant to the Plans shall not, in aggregate, exceed 5% of the total number of outstanding common shares. The exercise price per common share under each option will be the fair market value of such shares at the time of the grant. Upon stock option exercise, the Company issues new shares of common stock.

A summary of changes in common stock options issued under the Plan is as follows:

	Options			Exercise Price				Weighted-Average Exercise Price
Options outstanding at December 31, 2015		4,786,577			$0.53	-	$21.99		$8.56
Granted		357,833			7.71	-	9.45		8.01
Exercised		(13,000	)			2.50			2.50
Forfeitures		(48,250	)		0.55	-	16.91		11.50
Options outstanding at March 31, 2016		5,083,160			$0.55	-	$21.99	$	8.00
Granted		398,500			10.00	-	19.10		13.43
Exercised		(136,570	)		2.50	-	15.00		4.96
Forfeitures		(63,375	)		7.71	-	16.97		8.87
Options outstanding at June 30, 2016		5,281,715			$0.77	-	$21.99		8.48

As of June 30, 2016, there was approximately $6.4 million of unrecognized compensation cost, related to stock options granted under the Plan which will be amortized to stock compensation expense over the next 2.96 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Note 6 - Net Loss Per Share

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

6. Net Loss Per Share

The following summarizes the computation of basic and diluted net loss per share for the three months and six months ended June 30, 2016 and 2015 (in thousands, except share and per share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Net loss	$	(13,622	)	$	(6,744	)	$	(23,879	)	$	(14,858	)
Weighted-average number of common shares—basic and diluted		32,378,412			31,287,855			32,333,199			29,474,783
Net loss per share—basic and diluted	$	(0.42	)	$	(0.22	)	$	(0.74	)	$	(0.50	)

The following potentially dilutive securities outstanding, prior to the use of the treasury stock method or if-converted method, have been excluded from the computation of diluted weighted-average common shares outstanding, because including them would have had an anti-dilutive effect due to the losses reported.

	Six Months ended June 30,
	2016		2015
Stock options		5,281,715		4,952,068
Total		5,281,715		4,952,068

Note 7 - Commitments and Contingencies	6 Months Ended
Note 7 - Commitments and Contingencies	Jun. 30, 2016
Notes to Financial Statements
Commitments Disclosure [Text Block]	7. Commitment and Contingencies On December 1, 2015, a purported securities class action complaint captioned Yogina Rezko v. XBiotech Inc., John Simard, Queena Han and WR Hambrecht & Co., LLC was filed against us, certain of our officers and directors and the underwriter for our initial public offering in the Superior Court for the State of California, Los Angeles County. On December 2, 2015, a purported securities class action complaint captioned Linh Tran v. XBiotech Inc., John Simard and Queena Han was filed against us and certain of our officers and directors in U.S. District Court for the Western District of Texas. The lawsuits are based on substantially similar factual allegations and purport to be class actions brought on behalf of purchasers of the Company’s securities during the period from April 15, 2015 through November 23, 2015. The complaint filed in California state court alleges that the defendants violated the Securities Act of 1933, as amended (the “Securities Act”), and the complaint filed in federal court alleges that the defendants violated the Securities Exchange Act of 1934, as amended (the “Exchange Act”), in each case by making materially false and misleading statements concerning the Company’s Phase III clinical trial conducted in Europe to assess Xilonix™ as a treatment for colorectal cancer. The California complaint purports to assert claims for violations of Sections 11, 12(a)(2) and 15 of the Securities Act, and the federal complaint purports to assert claims for violation of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder. Both complaints seek, on behalf of the purported class, an unspecified amount of monetary damages, interest, fees and expenses of attorneys and experts, and other relief. In February 24, 2016, following a proceeding to select a lead plaintiff in the federal case, the court issued an order appointing Mr. Kresimir Corak as lead plaintiff. The plaintiff filed an amended complaint in the federal case on April 8, 2016. We filed a motion to dismiss brief with the court on May 23, 2016, while plaintiffs filed a response brief on July 7, 2016. In the California case, the plaintiffs filed an amended complaint on June 7, 2016. We responded with a demurrer in August 2016. No trial or other dates have been set in either case. We are unable to estimate the outcome of this matter or resulting financial impact to us, if any.

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or US GAAP.

Consolidation, Policy [Policy Text Block]

Basis of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Research and Development Expense, Policy [Policy Text Block]

Research and Development Costs

Income Tax, Policy [Policy Text Block]

Income Taxes

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Share-Based Compensation

The Company accounts for its share-based compensation awards in accordance with ASC Topic 718,

Compensation-Stock Compensation

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Research and development	$	597	$	521	$	1,184	$	976
General and administrative	$	1,219	$	726	$	1,730	$	1,493
Total share-based compensation expense	$	1,816	$	1,247	$	2,914	$	2,469

The fair value of each option is estimated on the date of grant using the Black-Scholes method with the following assumptions:

	Three Months Ended June 30,								Six Months Ended June 30,
	2016				2015				2016				2015
Dividend yield			-				-				-				-
Expected volatility		65%	-	70%			0.71			65%	-	70%		68%	-	71%
Risk-free interest rate		1.31%	-	1.82%		1.07%	-	2.42%		1.16%	-	1.82%		1.07%	-	2.42%
Expected life (in years)		5	-	10		3	-	10		5	-	10		3	-	10
Weighted-average grant date fair value per share			$8.01				$13.01				$6.64				$11.49

No related tax benefits were recognized for the three months and six months ended June 30, 2016 and 2015.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk

Fair Value Measurement, Policy [Policy Text Block]

Fair Value Measurements

The Company follows ASC Topic 820,

Fair Value Measurements and Disclosures

•

Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities.

•

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment


• Furniture and fixtures (in years)	7

• Office equipment (in years)	5

• Leasehold improvements	Shorter of asset’s useful life or remaining lease term

• Scientific equipment (in years)	5

• Vehicles (in years)	5

Building Construction in Progress Policy [Policy Text Block]

Building Construction in Progress

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long-Lived Assets

The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360,

Property, Plant and Equipment

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Transactions

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income (Loss)

ASC Topic 220,

Comprehensive Income

Segment Reporting, Policy [Policy Text Block]

Segment and Geographic Information

Earnings Per Share, Policy [Policy Text Block]

Net Loss Per Share

Subsequent Events, Policy [Policy Text Block]

Subsequent Events

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

In August 2014, the FASB issued ASU 2014-15

, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern

Note 2 - Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Research and development	$	587	$	521	$	1,184	$	976
General and administrative	$	511	$	726	$	1,730	$	1,493
Total share-based compensation expense	$	1,097	$	1,247	$	2,914	$	2,469

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Three Months Ended June 30,								Six Months Ended June 30,
	2016				2015				2016				2015
Dividend yield			-				-				-				-
Expected volatility		65%	-	70%			71%			65%	-	70%		68%	-	71%
Risk-free interest rate		1.16%	-	1.51%		1.07%	-	2.42%		1.16%	-	1.82%		1.07%	-	2.42%
Expected life (in years)		5.25	-	6.25		3	-	10		5	-	10		3	-	10
Weighted-average grant date fair value per share			$8.17				$13.01				$6.64				$11.49

Note 5 - Common Stock Options (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Options			Exercise Price				Weighted-Average Exercise Price
Options outstanding at December 31, 2015		4,786,577			$0.53	-	$21.99		$8.56
Granted		357,833			7.71	-	9.45		8.01
Exercised		(13,000	)			2.50			2.50
Forfeitures		(48,250	)		0.55	-	16.91		11.50
Options outstanding at March 31, 2016		5,083,160			$0.55	-	$21.99	$	8.00
Granted		398,500			10.00	-	19.10		13.43
Exercised		(136,570	)		2.50	-	15.00		4.96
Forfeitures		(63,375	)		7.71	-	16.97		8.87
Options outstanding at June 30, 2016		5,281,715			$0.77	-	$21.99		8.48

Note 6 - Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Net loss	$	(13,622	)	$	(6,744	)	$	(23,879	)	$	(14,858	)
Weighted-average number of common shares—basic and diluted		32,378,412			31,287,855			32,333,199			29,474,783
Net loss per share—basic and diluted	$	(0.42	)	$	(0.22	)	$	(0.74	)	$	(0.50	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Six Months ended June 30,
	2016		2015
Stock options		5,281,715		4,952,068
Total		5,281,715		4,952,068

Note 2 - Significant Accounting Policies (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Dec. 31, 2015 USD ($)
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life			7 years
Office Equipment [Member]
Property, Plant and Equipment, Useful Life			5 years
Equipment [Member]
Property, Plant and Equipment, Useful Life			5 years
Vehicles [Member]
Property, Plant and Equipment, Useful Life			5 years
Assets, Fair Value Disclosure, Recurring	$ 0		$ 0		$ 0
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	0	$ 0	0	$ 0
Projected Additional Construction in Progress Expenditures	2,200,000		2,200,000
Projected Additional Capital Expenditures	6,700,000		$ 6,700,000
Number of Operating Segments			1
Liabilities, Fair Value Disclosure, Recurring	$ 0		$ 0		$ 0
Impairment of Long-Lived Assets Held-for-use			$ 0

Note 2 - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Research and Development Expense [Member]
Share-based compensation expense	$ 587	$ 521	$ 1,184	$ 976
General and Administrative Expense [Member]
Share-based compensation expense	511	726	1,730	1,493
Share-based compensation expense	$ 1,097	$ 1,247	$ 2,914	$ 2,469

Note 2 - Stock Option Valuation Assumptions (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Minimum [Member]
Expected volatility	65.00%		65.00%	68.00%
Risk-free interest rate	1.16%	1.07%	1.16%	1.07%
Expected life (in years)	5 years 91 days	3 years	5 years	3 years
Maximum [Member]
Expected volatility	70.00%		70.00%	71.00%
Risk-free interest rate	1.51%	2.42%	1.82%	2.42%
Expected life (in years)	6 years 91 days	10 years	10 years	10 years
Expected volatility		71.00%
Weighted-average grant date fair value per share (in dollars per share)	$ 8.17	$ 13.01	$ 6.64	$ 11.49

Note 3 - Income Taxes (Details Textual)	6 Months Ended
Note 3 - Income Taxes (Details Textual)	Jun. 30, 2016 USD ($)
Income Tax Expense (Benefit)	$ 0

Note 4 - Common Stock (Details Textual) - USD ($)		1 Months Ended			3 Months Ended
Note 4 - Common Stock (Details Textual) - USD ($)	Apr. 17, 2015	Jan. 28, 2016	Jul. 31, 2015	Jan. 31, 2015	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015
IPO [Member]
Stock Issued During Period, Shares, New Issues	4,000,000
Share Price	$ 19
Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price					$ 2.50		$ 0.53
Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price					15		10
Common Stock, No Par Value					$ 0		$ 0
Class of Warrant or Right, Exercised During Period									164,999
Class of Warrant or Right, Exercise Price of Warrants or Rights									$ 15
Proceeds from Warrant Exercises								$ 3,100,000	$ 2,400,000
Proceeds from Stock Options Exercised			$ 30,000	$ 8,000	$ 674,758		$ 639,253	$ 700,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		13,000	12,000	15,000	136,570	13,000	226,141	106,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price		$ 2.50	$ 2.50	$ 0.55	$ 4.96	$ 2.50
Stock Issued During Period, Shares, New Issues					136,570			208,333
Proceeds from Issuance Initial Public Offering	$ 70,600,000
Stock Issued During Period, Value, Stock Options Exercised		$ 32,500

Note 5 - Common Stock Options (Details Textual) - The Plan [Member] $ in Millions	6 Months Ended
	Jun. 30, 2016 USD ($)
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 6.4
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 350 days
Any One Person [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum	5.00%

Note 5 - Changes in Common Stock Options Issued (Details) - $ / shares	1 Months Ended			3 Months Ended
	Jan. 28, 2016	Jul. 31, 2015	Jan. 31, 2015	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015
Minimum [Member]
Options outstanding at December 31, 2015 (in dollars per share)	$ 0.53			$ 0.55	$ 0.53
Granted (in dollars per share)				10	7.71
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price				2.50		$ 0.53
Forfeitures (in dollars per share)				7.71	0.55
Options outstanding at March 31, 2016 (in dollars per share)				0.77	0.55	0.53
Maximum [Member]
Options outstanding at December 31, 2015 (in dollars per share)	$ 21.99			21.99	21.99
Granted (in dollars per share)				19.10	9.45
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price				15		10
Forfeitures (in dollars per share)				16.97	16.91
Options outstanding at March 31, 2016 (in dollars per share)				$ 21.99	$ 21.99	$ 21.99
Options outstanding at December 31, 2015 (in shares)	4,786,577			5,083,160	4,786,577
Options outstanding at December 31, 2015 (in dollars per share)	$ 8.56			$ 8	$ 8.56
Granted (in shares)				398,500	357,833
Granted (in dollars per share)				$ 13.43	$ 8.01
Exercised (in shares)	(13,000)	(12,000)	(15,000)	(136,570)	(13,000)	(226,141)	(106,000)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 2.50	$ 2.50	$ 0.55	$ 4.96	$ 2.50
Forfeitures (in shares)				(63,375)	(48,250)
Forfeitures (in dollars per share)				$ 8.87	$ 11.50
Options outstanding at March 31, 2016 (in shares)				5,281,715	5,083,160	4,786,577
Options outstanding at March 31, 2016 (in dollars per share)				$ 8.48	$ 8	$ 8.56

Note 6 - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net loss	$ (13,622)	$ (6,744)	$ (23,879)	$ (14,858)
Weighted-average number of common shares—basic and diluted (in shares)	32,378,412	31,287,855	32,333,199	29,474,783
Net loss per share—basic and diluted (in dollars per share)	$ (0.42)	$ (0.22)	$ (0.74)	$ (0.50)

Note 6 - Potentially Dilutive Securities Outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Employee Stock Option [Member]
Antidilutive securities (in shares)	5,281,715	4,952,068
Antidilutive securities (in shares)	5,281,715	4,952,068