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      Why Xenetic Biosciences Inc. (XBIO) stock is surging in the Monday’s pre-market?? - Stocks Telegraph

      By Asim Kamal

      Published on

      July 26, 2021

      12:27 PM UTC

      Why Xenetic Biosciences Inc. (XBIO) stock is surging in the Monday’s pre-market?? - Stocks Telegraph

      Xenetic Biosciences Inc. (XBIO) stock surged 24.21% in Monday’s pre-market as of this writing. In the regular trading session on Friday, XBIO’s stock gained 35.48%. XBIO shares have risen 108.26% over the last 12 months, and they have moved up 42.37% in the past week. Over the past three months, the stock has gained 29.90%, while over the past six months, it has shed 4.18%. Further, the company has a current market of $16.30 million and its outstanding shares stood at 8.75 million.

      Recent XBIO financial results announcement

      On May 12, 2021, Xenetic Biosciences, Inc reported its financial results for the first quarter of 2021.

      Q1 2021 financial highlights

      • The company suffered a net loss of approximately $1.3 million in Q1 2021
      • Research & development expenses were $0.6 million compared to $0.4 million in the comparable quarter in 2020.
      • General and administrative expenses were$0.9 million in Q1 2021 which were the same in Q1 2020.

      XBIO Participation in the recent investor conference

      Xenetic Biosciences recently participated at Q2 Virtual Investor Summit which was held on Tuesday, May 18, 2021. The company was presented by Chief Executive Officer Jeffrey Eisenberg presented the company during the event.

      Commencing Exploratory Study of XCART

      On March 29, 2021, Xenetic Biosciences, Inc received approval to commence its exploratory patient biopsy study in Eastern Europe evaluating XCART.

      The study will be conducted at the Vitebsk Regional Clinical Oncological Center in Minsk, Belarus, and will enrol adult B-Cell NHL patients. The collaborations being leveraged in the XCART development program may be expanded to include the development and qualification of manufacturing processes for producing autologous XCART T-Cells. The work being performed under these collaborations is expected to position the Company to conduct IND-enabling studies in the United States.

      XBIO Q4 & FY 2020 financial results

      On March 17, 2021, Xenetic Biosciences, Inc announced its financial results for the fourth quarter and full-year 2020.

      FY 2020 financial highlights

      • The company suffered a net loss of approximately $10.9 million in FY 2020.
      • For FY 2020, R&D expenses were $1.7 million compared to $4.9 million for the year ended December 31, 2019.
      • General and administrative expenses were $3.4 million from $4.7 million in the comparable period in 2019.
      • Working capital was approximately $11.4 million in FY 2020 compared to $9.7 million on December 31, 2019.
      • The Company ended the year with approximately $11.5 million of cash.

      Conclusion

      The recent Monday pre-market and Friday surge of XBIO stock has no grounds. There is no recent news or development which could be linked with Friday’s performance. We hope that it will commence the new week in a positive mode.

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