FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  HU ANGELA
2. Date of Event Requiring Statement (Month/Day/Year)
02/10/2023		 3. Issuer Name and Ticker or Trading Symbol
XBiotech Inc. [XBIT]
(Last)
(First)
(Middle)
5217 WINNEBAGO LN		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Principle Financial Officer
5. If Amendment, Date Original Filed (Month/Day/Year)
(Street)

AUSTIN, TX 78744		 6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4) 		2. Amount of Securities Beneficially Owned
(Instr. 4) 		3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) 		4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 25,500
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4) 		2. Date Exercisable and Expiration Date
(Month/Day/Year) 		3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 		4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) 		6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) 04/01/2016(1) 04/01/2025 Common Stock 4,500 $ 19 D  
Employee Stock Option (right to buy) 01/04/2020(2) 01/03/2029 Common Stock 5,000 $ 5.26 D  
Employee Stock Option (right to buy) 11/06/2020(3) 11/05/2029 Common Stock 10,000 $ 10.36 D  
Employee Stock Option (right to buy) 11/19/2022(4) 11/18/2031 Common Stock 10,000 $ 12.67 D  
Employee Stock Option (right to buy) 08/10/2023(5) 02/09/2033 Common Stock 30,000 $ 3.84 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
HU ANGELA
5217 WINNEBAGO LN
AUSTIN, TX 78744		       Principle Financial Officer  

Signatures

/s/ Angela Hu 02/23/2023
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On April 1, 2015 (the Grant Date) the reporting person was granted stock options (the Options) under the Company's 2015 Equity Incentive Plan to purchase shares of the Company's Common Stock (the Shares) at an exercise price equal to the closing sales price of the Shares on the Grant Date as quoted by the Nasdaq Stock Market. The Options vest in four equal portions in four years commencing as of April 1, 2016, with an expiry of ten years from the Grant Date.
(2) On January 4, 2019 (the Grant Date) the reporting person was granted stock options (the Options) under the Company's 2015 Equity Incentive Plan to purchase shares of the Company's Common Stock (the Shares) at an exercise price equal to the closing sales price of the Shares on the Grant Date as quoted by the Nasdaq Stock Market. The Options vest in two equal portions in two years commencing as of January 4, 2020, with an expiry of ten years from the Grant Date.
(3) On November 6, 2019 (the Grant Date) the reporting person was granted stock options (the Options) under the Company's 2015 Equity Incentive Plan to purchase shares of the Company's Common Stock (the Shares) at an exercise price equal to the closing sales price of the Shares on the Grant Date as quoted by the Nasdaq Stock Market. The Options vest in two equal portions in two years commencing as of November 6, 2020, with an expiry of ten years from the Grant Date.
(4) On November 19, 2021 (the Grant Date) the reporting person was granted stock options (the Options) under the Company's 2015 Equity Incentive Plan to purchase shares of the Company's Common Stock (the Shares) at an exercise price equal to the closing sales price of the Shares on the Grant Date as quoted by the Nasdaq Stock Market. The Options vest in two equal portions in two years commencing as of November 19, 2022, with an expiry of ten years from the Grant Date.
(5) On February 10, 2023 (the Grant Date) the reporting person was granted stock options (the Options) under the Company's 2015 Equity Incentive Plan to purchase shares of the Company's Common Stock (the Shares) at an exercise price equal to the closing sales price of the Shares on the Grant Date as quoted by the Nasdaq Stock Market. The Options vest in four equal portions in two years commencing as of August 10, 2023, with an expiry of ten years from the Grant Date.

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