Xenetic Biosciences Reports Q3 2024 Financial Results

Xenetic Biosciences, Inc., a biopharmaceutical company targeting challenging cancers, has announced its financial results for the third quarter of 2024. The company is advancing its DNase-based oncology platform, showing promise across multiple high-value oncology indications. Significant progress has been made toward launching a first in human clinical study targeting solid tumors.

Institutional collaborations, notably with Tokyo Medical University and The Scripps Research Institute, play a pivotal role in Xenetic's strategy to optimize development and capital efficiency. The company's financials indicate a net loss of approximately $0.4 million for Q3 2024, alongside stable administrative expenses.

Research and development expenses saw a significant decrease of 63.9% compared to the same period in 2023, attributed to reduced spending on DNase platform development. As of the quarter's end, Xenetic maintains a cash balance of $6.8 million to support its operations.