Xenetic Biosciences Reports Q1 2024 Financial Results and Business Progress

Xenetic Biosciences, Inc., a biopharmaceutical company focusing on immune-oncology technologies for treating difficult cancers, shared its financial outcomes and business updates for the first quarter of 2024. The company reported a net loss of approximately $1.2 million for the quarter ended March 31, 2024. This financial period saw an increase in research and development expenses and a decrease in general and administrative costs.

The first quarter also spotlighted the continuation of preclinical studies with the expectation of multiple data readouts throughout the year. Xenetic is advancing a DNase-based oncology program aimed at initiating a Phase 1 clinical study targeting pancreatic carcinoma and other challenging solid tumors.

Jeffrey Eisenberg, CEO of Xenetic, highlighted the ongoing preclinical studies involving DNase used alongside standard therapies like chemotherapy and immune checkpoint blockade. He expressed optimism about the potential of these studies to guide clinical development strategies and integrate DNase into treatment regimens for specific solid tumors.

By the end of the quarter, Xenetic affirmed a strong financial position with approximately $7.8 million in cash to support its operations, positioning the company to continue its research and development efforts effectively.