Xenetic Biosciences, Inc. reported its financial results for the second quarter of 2025, revealing a decrease in revenue and a continued net loss. The company generated total revenue of approximately $589,897 for the three months ended June 30, 2025, down 18.8% from $726,404 in the same period of 2024. This decline was primarily attributed to a decrease in royalty revenue from its sublicense agreement with Takeda Pharmaceuticals, which fell due to the timing of rebates. For the first half of 2025, total revenue was approximately $1.2 million, a decrease of 4.4% compared to $1.2 million for the same period in 2024.
Operating expenses also saw a significant reduction, with total operating costs and expenses for the second quarter of 2025 amounting to $1.3 million, down 36.3% from $2.1 million in the prior year. Research and development expenses decreased by 29.7% to approximately $656,557, while general and administrative expenses dropped by 41.8% to approximately $657,752. The company reported a net loss of $688,703 for the second quarter, a 45.9% improvement compared to a net loss of $1.3 million in the same quarter of 2024. For the first half of 2025, the net loss was approximately $1.6 million, down 35.5% from $2.5 million in the prior year.
Xenetic's balance sheet as of June 30, 2025, showed total assets of approximately $5.4 million, a decrease from $6.9 million at the end of 2024. The company's cash reserves also declined to approximately $4.8 million from $6.2 million. Current liabilities remained stable at approximately $903,430. The accumulated deficit increased to approximately $198.8 million, compared to $197.2 million at the end of 2024. The company’s working capital was approximately $4.5 million, down from $5.7 million at the end of the previous fiscal year.
Strategically, Xenetic continues to focus on advancing its proprietary DNase technology aimed at improving cancer treatment outcomes. The company is currently working on its systemic DNase program as an adjunctive therapy for pancreatic carcinoma and other solid tumors. Additionally, Xenetic has entered into various research agreements, including collaborations with Scripps Research and the University of Virginia, to further develop its technology. The company anticipates needing additional capital in the long term to support its business initiatives, with plans to explore public or private equity offerings and other financing options.
Looking ahead, Xenetic management expressed optimism about the potential of its DNase technology and the ongoing collaborations that may enhance its product pipeline. However, the company acknowledged the challenges posed by geopolitical events and market conditions, which could impact its operations and financial performance. The management remains committed to advancing its research and development efforts while navigating the complexities of the biotech industry.
About Xenetic Biosciences, Inc.
Xenetic Biosciences is a biopharmaceutical company developing innovative immuno-oncology therapies, focusing on targeting tumor microenvironments with proprietary DNase technology. Its core activities include advancing drug candidates for solid tumors like pancreatic and colorectal cancers, leveraging collaborations and licensing. The company emphasizes research, strategic partnerships, and patent protection to create next-generation biologics addressing unmet medical needs in cancer treatment.
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