On 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, reported its financial results for the second quarter 2025 (Press release, Xenetic Biosciences, AUG 13, 2025, View Source [SID1234655164]).
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Recent Highlights
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:
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;
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
Continued pursuit of other strategic collaborations to advance the Company’s technology.
"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 2025
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.