Full Press Release Details
Xenetic Biosciences,
Inc. Reports Second Quarter 2025 Financial Results
partnership with The Scripps Research Institute to advance
proof-of-concept studies and further develop its program combining systemic
DNase I with CAR T-cell therapies
with $4.8 million of cash to fund operations
MA - (August 13, 2025) - Xenetic Biosciences,
Inc. (NASDAQ: XBIO) ("Xenetic" or the "Company"), a biopharmaceutical
company focused on advancing innovative immuno-oncology technologies addressing difficult to treat cancers, today reported its financial
results for the second quarter 2025.
| Expanded its collaboration with The Scripps Research Institute ("TSRI") to advance the development of the Company's development program evaluating the combination of systemic DNase I and CAR T-cell therapies; | ||
| Announced advancements from its collaboration partner, PeriNess Ltd. ("PeriNess") including: |
| o | Entered into a Clinical Study Agreement to support an exploratory clinical study of DNase I in combination with anti-CD19 CAR T cells in patients with large B cell lymphoma; | |
| o | Commenced patient dosing in an exploratory clinical study of systemic DNase I in combination with FOLFIRINOX for the first line treatment of unresectable, locally advanced or metastatic pancreatic cancer at Bnei Zion Medical Center; and |
"We continue to set a strong foundation that
we believe positions us for success as we advance our systemic DNase I in combination with immunotherapy, chemotherapy, and radiotherapy
across various oncology indications where there remains significant unmet need. We continue to work with our partners and believe the
data and information will be invaluable as we look to realize the full potential of our DNase platform technology. Looking ahead, we remain
focused on building momentum across all fronts and driving development toward an IND and Phase 1 clinical trial," commented James
Parslow, Interim Chief Executive Officer and Chief Financial Officer of Xenetic.
Xenetic continues to advance its DNase-based technology towards Phase 1 clinical development for the treatment of pancreatic carcinoma
and other locally advanced or metastatic solid tumors. Preclinical proof-of-concept studies combining DNase I with chemotherapy, immunotherapies,
and CAR-T therapy in hematological and solid tumor and metastatic cancer models have been completed. Building on proof-of-concept success,
the program has now advanced to mechanism-of-action and translational studies in preparation for a Phase 1 clinical trial.
Additionally, as previously announced in December
2024, Xenetic entered into a Clinical Trial Services Agreement with PeriNess, under which PeriNess will lead in the regulatory approval,
operational execution and management of potential exploratory, investigator initiated studies of recombinant DNase as an adjunctive treatment
in patients with pancreatic carcinoma and other locally advanced or metastatic solid tumors receiving chemotherapy and immunotherapy in
Israeli medical centers.
Summary of Financial Results for Second Quarter
Net loss for the quarter ended June 30, 2025 was approximately $0.7 million. Research & development expenses for the three months
ended June 30, 2025 decreased by approximately $277,000, or 29.7%, to approximately $0.7 million from $0.9 million in the comparable quarter
in 2024. General and administrative expenses for the three months ended June 30, 2025 decreased by approximately $472,000, or 41.8%, to
approximately $0.7 million from approximately $1.1 million in the comparable quarter in 2024. These decreases were primarily due to certain
severance and benefits expensed in connection with separation agreements entered into during the second quarter of 2024 with the Company's
former Chief Executive Officer and Chief Scientific Officer.
The Company ended the quarter with approximately
$4.8 million in cash.
About Xenetic Biosciences
Xenetic Biosciences, Inc. is a biopharmaceutical
company focused on advancing innovative immune-oncology technologies addressing hard to treat cancers. The Company's DNase platform is
designed to improve outcomes of existing treatments, including immunotherapies, by targeting neutrophil extracellular traps (NETs), which
are involved in cancer progression. Xenetic is currently focused on advancing its systemic DNase program into the clinic as an adjunctive
therapy for pancreatic carcinoma and locally advanced or metastatic solid tumors.
For more information, please visit the Company's website at www.xeneticbio.com and
connect on X, LinkedIn,
Forward-Looking Statements
This press release contains forward-looking statements
that we intend to be subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements contained
in this press release other than statements of historical facts may constitute forward-looking statements within the meaning of the federal
securities laws. These statements can be identified by words such as "expects," "plans," "projects," "will,"
"may," "anticipates," "believes," "should," "intends," "estimates," "remain,"
"focus", "confidence in", "potential", and other words of similar meaning, including, but not limited to,
all statements regarding expectations for our DNase-base oncology platform, including statements regarding: (a) advancing our DNase-based
oncology program towards Phase 1 clinical development for the treatment of pancreatic carcinoma and other locally advanced or metastatic
solid tumors and our focus on building momentum and driving development toward an IND and Phase I clinical trial, (b) setting a strong
foundation that we believe positions us for success as we advance DNase I in combination with various types of therapy and (c) working
with our partners and our belief regarding the data and information as we look to realize the full potential of DNase. Any forward-looking
statements contained herein are based on current expectations and are subject to a number of risks and uncertainties. Many factors could
cause our actual activities, performance, achievements, or results to differ materially from the activities and results anticipated in
forward-looking statements. Important factors that could cause actual activities, performance, achievements, or results to differ materially
from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from our manufacturing
and collaboration agreements; (2) unexpected costs, charges or expenses resulting from the licensing of the DNase platform; (3) uncertainty
of the expected financial performance of the Company following the licensing of the DNase platform; (4) failure to realize the anticipated
potential of the DNase or PolyXen technologies; (5) the ability of the Company to obtain funding and implement its business strategy;
and (6) other risk factors as detailed from time to time in the Company's reports filed with the SEC, including its annual report on Form
10-K, periodic quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC. The foregoing list
of important factors is not exclusive. In addition, forward-looking statements may also be adversely affected by general market factors,
general economic and business conditions, including potential adverse effects of public health issues, and geopolitical events, such as
the conflicts in Ukraine and in the Middle East, on economic activity, competitive product development, product availability, federal
and state regulations and legislation, the regulatory process for new product candidates and indications, manufacturing issues that may
arise, patent positions, litigation, and shareholder activism, among other factors. The forward-looking statements contained in this press
release speak only as of the date the statements were made, and the Company does not undertake any obligation to update forward-looking
statements, except as required by law.