Xenetic Biosciences Q2 2024: Revenue Up, Net Loss Widens

TL;DR

Xenetic Biosciences Q2: Revenue $651K, Net Loss $1.26M. Assets $726K, Liabilities $1.24M.

AI Summary

Xenetic Biosciences, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $726,404 and total liabilities of $1,237,221 as of June 30, 2024. For the three months ended June 30, 2024, Xenetic Biosciences had revenues of $651,005 and net losses of $1,256,849.

Why It Matters

This filing provides insight into Xenetic Biosciences' financial performance and operational status for the second quarter of 2024, which is crucial for investors assessing the company's viability and future prospects.

Risk Assessment

Risk Level: high — The company has significantly more liabilities than assets and incurred a substantial net loss in the quarter, indicating potential financial distress.

Key Numbers

• $726.4K — Total Assets (As of June 30, 2024, indicating the company's resource base.)
• $1.24M — Total Liabilities (As of June 30, 2024, highlighting the company's debt obligations.)
• $651.0K — Q2 2024 Revenue (Generated in the three months ended June 30, 2024, showing top-line performance.)
• $1.26M — Q2 2024 Net Loss (Incurred in the three months ended June 30, 2024, indicating profitability challenges.)

Key Players & Entities

• Xenetic Biosciences, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $726,404 (dollar_amount) — Total assets as of June 30, 2024
• $1,237,221 (dollar_amount) — Total liabilities as of June 30, 2024
• $651,005 (dollar_amount) — Revenue for the three months ended June 30, 2024
• $1,256,849 (dollar_amount) — Net loss for the three months ended June 30, 2024

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share XBIO The Nasdaq S
• $0 — its authorized common stock, par value $0.001, along with a corresponding and pro
• $0.2 million — nated in consolidation, the Company has $0.2 million of cash collateralizing these guarantee
• $26,000 — aboration. To date, Volition has funded $26,000 under this agreement. Catalent Pharma
• $0.9 million — Scripps Research an aggregate of up to $0.9 million to fund research relating to advancing

Filing Documents

• xenetic_i10q-063024.htm (10-Q) — 538KB
• xenetic_ex1001.htm (EX-10.1) — 75KB
• xenetic_ex1002.htm (EX-10.2) — 75KB
• xenetic_ex1003.htm (EX-10.3) — 14KB
• xenetic_ex3101.htm (EX-31.1) — 10KB
• xenetic_ex3102.htm (EX-31.2) — 10KB
• xenetic_ex3201.htm (EX-32.1) — 4KB
• 0001683168-24-005572.txt ( ) — 2739KB
• xbio-20240630.xsd (EX-101.SCH) — 18KB
• xbio-20240630_cal.xml (EX-101.CAL) — 24KB
• xbio-20240630_def.xml (EX-101.DEF) — 80KB
• xbio-20240630_lab.xml (EX-101.LAB) — 190KB
• xbio-20240630_pre.xml (EX-101.PRE) — 159KB
• xenetic_i10q-063024_htm.xml (XML) — 248KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4

Controls and Procedures

Controls and Procedures 21 PART II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 22 Item 1A

Risk Factors

Risk Factors 22 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3 Defaults Upon Senior Securities 22 Item 4 Mine Safety Disclosures 22 Item 5 Other Information 22 Item 6 Exhibits 23

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

– FINANCIAL STATEMENTS

ITEM 1 – FINANCIAL STATEMENTS XENETIC BIOSCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash $ 7,298,597 $ 8,983,046 Prepaid expenses, receivables and other 716,381 603,828 Total current assets 8,014,978 9,586,874 Other assets 1,018,352 1,018,352 Total assets $ 9,033,330 $ 10,605,226 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 283,586 $ 240,832 Accrued expenses and other current liabilities 1,304,016 568,753 Total current liabilities 1,587,602 809,585 Total liabilities 1,587,602 809,585 Commitments and contingencies – – Stockholders' equity: Preferred stock, 10,000,000 shares authorized – – Series B, $ 0.001 par value: 1,804,394 shares issued and outstanding as of June 30, 2024 and December 31, 2023 1,804 1,804 Common stock, $ 0.001 par value; 10,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 1,543,802 and 1,543,385 shares issued as of June 30, 2024 and December 31, 2023, respectively; 1,541,101 and 1,540,684 shares outstanding as of June 30, 2024 and December 31, 2023, respectively 1,544 1,544 Additional paid in capital 208,173,105 208,053,935 Accumulated deficit ( 195,703,279 ) ( 193,234,196 ) Accumulated other comprehensive income 253,734 253,734 Treasury stock ( 5,281,180 ) ( 5,281,180 ) Total stockholders' equity 7,445,728 9,795,641 Total liabilities and stockholders' equity $ 9,033,330 $ 10,605,226 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 XENETIC BIOSCIENCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2024 2023 2024 2023 Revenue: Royalty revenue $ 726,404 $ 651,005 $ 1,237,221 $ 1,256,849 Total revenue 726,404 651,005 1,237,221 1,256,849 Operating costs and ex

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