Jun. 30 at 3:21 PM
$XBIO Updates: Xenetic Biosciences (NASDAQ:XBIO) reported its financial results for FY2024, highlighting progress in its DNase-based technology development for cancer treatment.
The company recorded a net loss of
$4.0 million, with R&D expenses decreasing 5.9% to
$3.3 million and G&A expenses declining 4.1% to
$3.4 million.
Key developments include extended collaborations with the University of Virginia and Scripps Research through 2025, and a new Clinical Trial Services Agreement with PeriNess for investigator-initiated studies.
The company maintained stable royalty payments of
$2.5 million from its Takeda Pharmaceuticals sublicense and ended the year with
$6.2 million in cash.
Xenetic's focus remains on advancing its DNase-based technology toward IND and Phase 1 clinical trials for pancreatic carcinoma and other solid tumors, with preliminary preclinical studies completed in colorectal cancer models.
