Xenetic Biosciences, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Xenetic Biosciences, Inc. has filed its 2023 10-K report detailing its financial performance and business operations.</b>

AI Summary

Xenetic Biosciences, Inc. (XBIO) filed a Annual Report (10-K) with the SEC on March 21, 2024. Xenetic Biosciences, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business is in Pharmaceutical Preparations (SIC code 2834). Xenetic Biosciences, Inc. was formerly known as General Sales & Leasing, Inc. and GENERAL AIRCRAFT INC. The company's principal executive offices are located at 945 Concord St., Framingham, MA 01701.

Why It Matters

For investors and stakeholders tracking Xenetic Biosciences, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Xenetic Biosciences' financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. Understanding the company's historical financial data, including changes in equity and debt, as presented in the 10-K, is essential for evaluating its stability and growth potential in the pharmaceutical sector.

Risk Assessment

Risk Level: medium — Xenetic Biosciences, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains detailed financial information and risk factors, but lacks specific performance metrics or forward-looking statements in the provided snippet, necessitating further review of the full document for a definitive risk assessment.

Analyst Insight

Review the full 10-K filing to understand Xenetic Biosciences' financial performance, R&D activities, and identified risks to assess investment potential.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-03-21 — Filing Date (Date filed)
• 2834 — SIC Code (Standard Industrial Classification for Pharmaceutical Preparations)
• NV — State of Incorporation (State where Xenetic Biosciences, Inc. is incorporated)

Key Players & Entities

• Xenetic Biosciences, Inc. (company) — Filer name
• 2023 (date) — Fiscal year end
• 2024-03-21 (date) — Filing date
• 0001683168-24-001594 (other) — Accession number
• General Sales & Leasing, Inc. (company) — Former company name
• GENERAL AIRCRAFT INC. (company) — Former company name
• Framingham, MA (location) — Business address city and state
• 781-778-7720 (phone) — Business phone number

FAQ

Industry Context

Xenetic Biosciences operates within the Pharmaceutical Preparations industry, a sector characterized by significant research and development, regulatory oversight, and market competition.

Regulatory Implications

Companies in the pharmaceutical sector are subject to stringent regulations from bodies like the FDA regarding drug development, manufacturing, and marketing.

What Investors Should Do

1. Thoroughly review the financial statements and management's discussion and analysis (MD&A) in the 10-K for detailed financial performance.
2. Examine the 'Risk Factors' section of the 10-K to understand potential challenges and threats to the company's business.
3. Investigate any disclosed legal proceedings or regulatory actions that could impact Xenetic Biosciences.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-21: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing snippet for the 2023 10-K; comparative data from the previous year's filing is not available in this extract.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share XBIO The Nasdaq C
• $3 — e Nasdaq Capital Market on that date of $3.28, was approximately $ 5,026,928 . For

Filing Documents

• xenetic_i10k-123123.htm (10-K) — 1349KB
• xenetic_ex0401.htm (EX-4.1) — 20KB
• xenetic_ex2101.htm (EX-21.1) — 3KB
• xenetic_ex2301.htm (EX-23.1) — 3KB
• xenetic_ex3101.htm (EX-31.1) — 10KB
• xenetic_ex3102.htm (EX-31.2) — 10KB
• xenetic_ex3201.htm (EX-32.1) — 5KB
• xenetic_ex9701.htm (EX-97.1) — 27KB
• image_002.jpg (GRAPHIC) — 42KB
• 0001683168-24-001594.txt (&nbsp;) — 5828KB
• xbio-20231231.xsd (EX-101.SCH) — 37KB
• xbio-20231231_cal.xml (EX-101.CAL) — 42KB
• xbio-20231231_def.xml (EX-101.DEF) — 241KB
• xbio-20231231_lab.xml (EX-101.LAB) — 343KB
• xbio-20231231_pre.xml (EX-101.PRE) — 322KB
• xenetic_i10k-123123_htm.xml (XML) — 667KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 23 Item 1B Unresolved Staff Comments 52 Item 1C Cybersecurity 52 Item 2

Properties

Properties 53 Item 3

Legal Proceedings

Legal Proceedings 53 Item 4 Mine Safety Disclosures 53 PART II 54 Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 54 Item 6 [Reserved] 54 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 54 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 62 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 63 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 64 Item 9A

Controls and Procedures

Controls and Procedures 64 Item 9B Other Information 65 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 65 PART III 66 Item 10 Directors, Executive Officers and Corporate Governance 66 Item 11

Executive Compensation

Executive Compensation 66 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 66 Item 13 Certain Relationships and Related Transactions, and Director Independence 66 Item 14 Principal Accounting Fees and Services 66 PART IV 67 Item 15 Exhibits and Financial Statement Schedules 67 Item 16 Form 10-K Summary 67 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Annual Report") contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended. All statements contained in this Annual Report other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, future revenues, projected costs, prospects and our objectives for future operations, are forward-looking events, including the conflicts in the Ukraine and the Middle East and associated sanctions imposed by the United States ("U.S.") and other countries in response; our plans to develop our proposed drug candidates; our expectations regarding the nature, timing and extent of clinical trials and proposed clinical trials; our expectations regarding the timing for proposed submissions of regulatory filings, including but not limited to, any Investigational New Drug ("IND") filing or any New Drug Application ("NDA"); the nature, timing and extent of collaboration arrangements; the expected results pursuant to collaboration arrangements, including the receipts of future payments that may arise pursuant to collaboration arrangements; the outcome of our plans to obtain regulatory approval of our drug candidates; the outcome of our plans for the commercialization of our drug candi

– BUSINESS

ITEM 1 – BUSINESS Overview We are a biopharmaceutical company focused on advancing innovative immune-oncology technologies addressing hard to treat cancers. Our proprietary DNase platform is designed to improve outcomes of existing treatments, including immunotherapies, by targeting NETs, which have been implicated in cancer progression and resistance to cancer treatments. The DNase platform is designed to target NETs, which are weblike structures composed of extracellular chromatin coated with histones and other proteins. NETs are expelled by activated neutrophils, in response to microbial or pro-inflammatory challenges. However, excessive production or reduced clearance of NETs can lead to aggravated inflammatory, hypercoagulability and autoimmune pathologies, as well as creation of pro-tumorigenic niches in the case of cancer growth and metastasis. We are focused on advancing the development of our DNase platform toward a first-in-human, multicenter, dose escalation and dose-expansion study of IV rhDNase I in subjects with locally advanced or metastatic solid tumors. Our systemic DNase program is initially targeting multi-billion-dollar indications including pancreatic cancer (which includes pancreatic ductal adenocarcinoma ("PDAC")), colorectal carcinoma ("CRC") and other gastrointestinal cancers. These are all cancer indications with significant unmet need, and with opportunities for substantial improvement of the currently available therapeutic options. PDAC has a low rate of early diagnosis, a high mortality rate and a poor five-year survival prognosis. Symptoms are usually non-specific and as a result, PDAC is often not diagnosed until it reaches an advanced stage. Once the disease has metastasized, or spread to other organs, it becomes especially hard to treat. Each year, about 185,000 individuals globally are diagnosed with this condition; and in 2021, the Surveillance, Epidemiology and End Results program, or SEER, of the National Cancer Institute e

View Full Filing

View this 10-K filing on SEC EDGAR