Xenetic Biosciences Reports Third Quarter 2024 Financial Results

Xenetic Biosciences, Inc., a biopharmaceutical company focusing on innovative immune-oncology technologies tackling challenging cancers, released its financial results for the third quarter of 2024 on November 13, 2024. The quarter showcased notable progress in advancing the DNase platform and strengthening institutional partnerships to enhance development strategies and utilize capital effectively. The company’s recent achievements include an agreement with Tokyo Medical University and an extension of the partnership with The Scripps Research Institute.

The third-quarter financial report highlighted a net loss of approximately $0.4 million for the period ending September 30, 2024. Research and development expenses decreased by around 63.9% compared to the same quarter in 2023, primarily due to reduced spending related to the DNase platform’s process development efforts. General and administrative expenses remained relatively stable, with increased legal fees balanced by reduced personnel costs following the departure of the former Chief Executive Officer earlier in 2024.

Xenetic concluded the quarter with approximately $6.8 million in cash to fund operations. The company continues to advance its DNase-based oncology program towards Phase 1 clinical development for treating pancreatic carcinoma and other locally advanced or metastatic solid tumors. Xenetic has completed preliminary preclinical studies assessing combinations of DNase I with chemotherapy, DNase I with immuno-therapies in colorectal cancer models, and CAR-T therapy. Further pre-clinical data are expected to be shared at upcoming scientific conferences following Xenetic’s recent participation at the Society for Immunotherapy of Cancer (SITC) conference in 2024.

Xenetic’s interim Chief Executive Officer and Chief Financial Officer, James Parslow, expressed optimism regarding the company’s progress in advancing the DNase platform and building a robust pipeline. The focus remains on creating value in the near and long term by enhancing data generation and research efforts.

Xenetic Biosciences, Inc. specializes in developing immune-oncology technologies targeting challenging cancers. The company’s DNase platform aims to improve treatment outcomes, including immunotherapies, by targeting neutrophil extracellular traps (NETs) linked to cancer progression. Xenetic’s current priority is to advance its systemic DNase program into clinical trials as an adjunctive therapy for pancreatic carcinoma and other locally advanced or metastatic solid tumors.

For more information, visit Xenetic Biosciences, Inc.’s website at www.xeneticbio.com and follow updates on Twitter, LinkedIn, and Facebook.

This press release may contain forward-looking statements within the purview of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from anticipated outcomes. Xenetic Biosciences commits to updating forward-looking statements as required by law.

Contact:

JTC Team, LLC

Jenene Thomas

(908) 824-0775

[email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Xenetic Biosciences’s 8K filing here.

About Xenetic Biosciences

Xenetic Biosciences, Inc is a biopharmaceutical company focused on progressing XCART, a personalized CAR T platform technology engineered to target patient-specific tumor neoantigens. The Company is initially advancing cell-based therapeutics targeting the unique B-cell receptor on the surface of an individual patient’s malignant tumor cells for the treatment of B-cell lymphomas.