Xenetic Biosciences Reports Third Quarter 2026 Financial Results and Highlights Strategic Business Updates
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Xenetic Biosciences (NASDAQ:XBIO) reported a third-quarter 2026 net loss of approximately $1.7 million and highlighted its proposed acquisition of Santersus.
Royalty revenue fell approximately 29% year over year to approximately $0.7 million. Net loss was $0.72 per basic and diluted share, versus $0.33 a year earlier. Cash totaled approximately $5.8 million at September 30, versus approximately $7.9 million at December 31, 2025.
The definitive agreement would acquire all Santersus shares for newly issued Xenetic shares. Xenetic expects closing in the first quarter of 2027, subject to shareholder approval and other conditions. Both boards approved the transaction. The first patient was dosed in a Phase I study combining DNase I with anti-CD19 CAR T-cell therapy in large B-cell lymphoma; initial efficacy data are expected in the second quarter of 2027.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.The definitive all-stock agreement would add Santersus and its clinical-stage platform to Xenetic.
- Minor pointFirst patient dosed in Phase I DNase I plus anti-CD19 CAR T-cell therapy study in large B-cell lymphoma.
- Minor point. Forward-looking: it has not happened yet and may not happen.Initial efficacy data from the Phase I combination study are expected in the second quarter of 2027.
- Minor point. Forward-looking: it has not happened yet and may not happen.Santersus would bring two FDA Breakthrough Device Designations to the proposed combined company.
- Minor point. Forward-looking: it has not happened yet and may not happen.The proposed combined company's expected programs include an ongoing pivotal sepsis study.
2 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.The proposed combined company's expected pipeline includes planned advancement in lupus.
- Minor pointResearch and development expenses fell approximately 31% year over year to approximately $0.5 million, primarily from lower manufacturing development costs.
Negative
- Moderate pointRoyalty revenue fell approximately 29% year over year to approximately $0.7 million, versus approximately $1.0 million.
- Moderate pointNet loss widened to approximately $1.7 million from approximately $0.5 million in third-quarter 2025.
- Moderate pointCash and cash equivalents declined to approximately $5.8 million from approximately $7.9 million at December 31, 2025.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Newly issued Xenetic shares would fund the Santersus acquisition, diluting existing holders.
- Minor pointBasic and diluted loss per share increased to $0.72 from $0.33 in third-quarter 2025.
2 minor points
- Minor pointGeneral and administrative expenses rose approximately 138% year over year to approximately $1.9 million, primarily from transaction advisory costs.
- Minor pointExpected first-quarter 2027 closing requires Xenetic shareholder approval, Nasdaq listing approval for transaction shares and resale-registration effectiveness.
News Explained
The release gives no exchange share count, so the dilution to existing holders cannot yet be sized.
Xenetic has entered a definitive all-stock agreement to acquire Santersus, but the deal remains proposed and is expected to close in the
Completion depends on Xenetic stockholder approval, Nasdaq listing approval for the shares, effectiveness of a resale registration statement on Form S-1, and other closing conditions. The S-1 registers securities for resale; registration alone does not sell them.
Key Figures
- Royalty revenue
- decreased approximately 29% to approximately $0.7 million
- Third quarter 2026; approximately $1.0 million in the prior-year period
- R&D expenses
- decreased approximately 31% to approximately $0.5 million
- Third quarter 2026; approximately $0.8 million in the prior-year period
- G&A expenses
- increased approximately 138% to approximately $1.9 million
- Third quarter 2026; approximately $0.8 million in the comparable quarter of 2025
- Net loss
- approximately $1.7 million, or $0.72 per basic and diluted share
- Third quarter 2026; compared with approximately $0.5 million, or $0.33 per share, in 2025
- Cash and cash equivalents
- approximately $5.8 million
- As of September 30, 2026; compared with approximately $7.9 million as of December 31, 2025
- FDA Breakthrough Device Designations
- two
- Santersus platform
- Proposed transaction closing
- expected in the first quarter of 2027
- Subject to stockholder approval, Nasdaq listing approval, Form S-1 effectiveness and other conditions
- Initial efficacy data
- expected in the second quarter of 2027
- Investigator-initiated Phase I study of DNase I with anti-CD19 CAR T-cell therapy
Previous Earnings Reports
-
Revenue rose and R&D declined, but net loss widened and cash decreased.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
neutrophil extracellular traps medical
car t-cell therapy medical
breakthrough device designation regulatory
form s-1 regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
FRAMINGHAM, MA / ACCESS Newswire / November 13, 2026 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) ("Xenetic" or the "Company"), a biopharmaceutical company focused on advancing innovative immuno-oncology technologies addressing difficult to treat cancers, today reported financial results for the third quarter ended September 30, 2026, and highlighted its proposed share exchange transaction with Santersus AG ("Santersus"), which is expected to establish a Nasdaq-listed, clinical-stage company with a differentiated pipeline targeting neutrophil extracellular traps (NETs) across multiple high-value therapeutic indications.
"This is a defining period for Xenetic as we work toward completing a transaction that we believe has the potential to fundamentally transform the Company's clinical development profile and long-term value proposition," said James Parslow, Interim Chief Executive Officer and Chief Financial Officer of Xenetic Biosciences. "Santersus is expected to bring an established clinical-stage platform, two FDA Breakthrough Device Designations and a pipeline targeting serious diseases with substantial unmet medical needs. Importantly, the proposed combined company would have multiple development programs and potential catalysts, including an ongoing pivotal sepsis study, planned advancement in lupus and an anticipated oncology clinical readout in 2027."
Mr. Parslow continued, "We believe the complementary nature of NucleoCapture® and Xenetic's DNase platform provides a differentiated opportunity to address NETs through distinct mechanisms, potentially expanding the therapeutic reach of the combined platform. Our focus remains on advancing the proposed transaction and positioning the combined organization to execute against its development priorities and build sustainable stockholder value."
Third Quarter 2026 and Recent Strategic Highlights
- Initiated Clinical Evaluation of DNase I in Combination with CAR T-Cell Therapy: Announced the first patient dosed in an investigator-initiated, Phase I (NCT07361224) clinical study evaluating systemic recombinant human DNase I in combination with anti-CD19 CAR T-cell therapy in patients with large B-cell lymphoma (LBCL). The study is being conducted at Tel Aviv Sourasky University Medical Center in Israel in collaboration with PeriNess Ltd., with initial efficacy data expected in the second quarter of 2027.
- Advanced Pre-Clinical Development Strategy in CAR T cell therapy: Research examines a self-reinforcing niche of therapy resistance created by extracellular chromatin and NETs released during CAR T-cell killing and its reversal by DNase I.
- Announced Definitive Exchange Agreement with Santersus AG: Entered into a definitive share exchange agreement to, subject to Xenetic's stockholder approval, acquire all of the outstanding share capital of Santersus AG in exchange for newly issued shares of Xenetic in an all-stock transaction (the "Proposed Transaction"). The Proposed Transaction is expected to create a Nasdaq-listed clinical-stage company focused on targeting neutrophil extracellular traps (NETs) across multiple therapeutic indications. After closing, the combined company is expected to continue to trade on the Nasdaq Capital Market as Santersus Bio, Inc., under new ticker symbol "SNTS".The Proposed Transaction has been unanimously approved by the Board of Directors of Santersus. Xenetic's Board of Directors - acting on the unanimous recommendation of its independent Special Committee - has also approved the Proposed Transaction and recommends that Xenetic stockholders vote in favor of the Proposed Transaction. The Proposed Transaction is expected to close in the first quarter of 2027, subject to approval by Xenetic stockholders, the shares of Xenetic common stock issuable in the Proposed Transaction having been approved for listing on Nasdaq, the effectiveness of a resale registration statement on Form S-1 to be filed with the U.S. Securities and Exchange Commission ("SEC"), and the satisfaction or waiver of other customary closing conditions.
Summary of Financial Results for Third Quarter 2026
Royalty revenue for the three months ended September 30, 2026 decreased approximately
Research and development expenses for the three months ended September 30, 2026 decreased approximately
General and administrative expenses for the three months ended September 30, 2026 increased approximately
Net loss for the quarter ended September 30, 2026 was approximately
Cash and cash equivalents totaled approximately
About Xenetic Biosciences
Xenetic Biosciences, Inc. is a biopharmaceutical company focused on advancing innovative immuno-oncology technologies addressing difficult to treat cancers. The Company's proprietary DNase technology is designed to improve outcomes of existing treatments, including immunotherapies, by targeting neutrophil extracellular traps (NETs), which are involved in cancer progression. Xenetic is currently focused on advancing its systemic DNase program into the clinic as an adjunctive therapy for pancreatic carcinoma and locally advanced or metastatic solid tumors.
For more information, please visit the Company's website at www.xeneticbio.com and connect on X, LinkedIn, and Facebook.
Forward-Looking Statements
This press release contains forward-looking statements that we intend to be subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts may constitute forward-looking statements within the meaning of the federal securities laws. These statements can be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," "remain," "focus", "confidence in", "potential", "continues", "warrants", "provides", "opportunity", "aim" and other words of similar meaning, including but not limited to, express or implied statements regarding the structure, timing and completion of the Proposed Transaction, including the combined company's listing on Nasdaq after closing of the Proposed Transaction, expectations regarding the ownership structure of the combined company, the future operations of the combined company, the nature, strategy and focus of the combined company, the development and commercial potential and potential benefits of NucleoCapture and Xenetic's DNase technology, anticipated clinical drug development activities and related timelines, including the expected timing for data and other clinical results, the competitive landscape of the combined company, the expected board composition of the combined company, and expectations regarding the combined company's development programs and potential catalysts; all statements regarding the status, target and aim of, and anticipated results from, the investigator-initiated clinical study evaluating systemic recombinant human DNase in combination with anti-CD19 CAR T-cell therapy in patients with LBCL at the Tel Aviv Sourasky University Medical Center in Israel, including our expectations with respect to working with PeriNess and continued advancement of the study and anticipated treatments under the study; our focus on advancing innovative immuno-oncology technologies addressing difficult to treat cancers, the DNase platform improving outcomes of existing treatments, including immunotherapies, by targeting neutrophil extracellular traps (NETs), which are involved in cancer progression; and our focus on advancing our systemic DNase program into the clinic as an adjunctive therapy for pancreatic carcinoma and locally advanced or metastatic solid tumors; and other statements that are not historical fact. All statements other than statements of historical fact contained in this communication are forward-looking statements. These forward-looking statements are made as of the date they were first issued, and were based on the then-current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Xenetic, Santersus or the combined company's control. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to (i) the risk that the conditions to the closing of the Proposed Transaction are not satisfied, including the failure to timely obtain stockholder approval for the transaction, if at all; (ii) uncertainties as to the timing of the consummation of the Proposed Transaction and the ability of each of Xenetic and Santersus to consummate the Proposed Transaction; (iii) risks related to each parties' ability to manage its operating expenses and its expenses associated with the Proposed Transaction pending closing; (iv) risks related to the failure or delay in obtaining required approvals from any governmental or quasi-governmental entity necessary to consummate the Proposed Transaction; (v) the risk that as a result of adjustments to the exchange ratio, Xenetic stockholders and Santersus stockholders could own more or less of the combined company than is currently anticipated; (vi) risks related to the market price of Xenetic common stock relative to the value suggested by the exchange ratio; (vii) unexpected costs, charges or expenses resulting from the Proposed Transaction; (viii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Proposed Transaction; (ix) the uncertainties associated with Xenetic platform technologies, as well as risks associated with the clinical development and regulatory approval of product candidates, including potential delays in the commencement, enrollment and completion of clinical trials; (x) risks related to the inability of the combined company to obtain sufficient additional capital to continue to advance these product candidates and its clinical programs; (xi) uncertainties in obtaining successful clinical results for product candidates and unexpected costs that may result therefrom; (xii) risks related to the failure to realize any value from product candidates being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; (xiii) risks associated with the possible failure to realize certain anticipated benefits of the Proposed Transaction, including with respect to future financial and operating results; (xiv) risks related to the inability of the combined company to maintain compliance with Nasdaq listing requirements following closing of the Proposed Transaction, and the potential need for the combined company to effect a reverse stock split in order to satisfy Nasdaq listing requirements; (xv) risks related to the combined company raising additional working capital and financing its business; and (xvi) the other factors discussed under the heading "Risk Factors" in Xenetic's most recent Annual Report on Form 10-K and other filings with the SEC, among others. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. These and other risks and uncertainties are more fully described in filings that Xenetic makes and will make with the SEC in connection with the Proposed Transaction, including Xenetic's Proxy Statement described below under "Additional Information and Where to Find It." You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof or as of the dates indicated in the forward-looking statements. Xenetic, Santersus and the combined company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to subscribe for, buy or sell or the solicitation of an offer to subscribe for, buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of, or offer to sell or buy, securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This communication is for informational purposes only. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
Additional Information and Where to Find It
This communication relates to the proposed acquisition transaction involving Xenetic and Santersus and may be deemed to be solicitation material in respect of the Proposed Transaction. In connection with the Proposed Transaction, Xenetic will file with the SEC a Proxy Statement and Registration Statement on Form S-1. Each party may also file other documents regarding the Proposed Transaction with the SEC. Investors and security holders are urged to read carefully the proxy statement, registration statement on Form S-1, and other relevant documents filed or will be filed with the SEC, as well as any amendments or supplements thereto and any documents incorporated by reference therein, in their entirety if and when they become available because they contain or will contain important information about the proposed transaction, related matters and the parties to the proposed transaction.
Investors and security holders may obtain a free copy of the Proxy Statement, the Registration Statement on Form S-1, and other relevant documents (if and when they become available) that are or will be filed with the SEC for free at the SEC's website at http://www.sec.gov. Copies of the documents (when they become available) filed with the SEC by Xenetic Biosciences will be available free of charge on Xenetic's website at www.xeneticbio.com.
Participants in the Solicitation
Xenetic, and its directors and executive officers, and Santersus, and its directors and officers, may be deemed to be participants in the solicitation of proxies from the stockholders of Xenetic in connection with the Proposed Transaction under the rules of the SEC. Information about the interests of these directors and executive officers and other persons who may be deemed to be participants in the solicitation of stockholders of Xenetic in connection with the Proposed Transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Proxy Statement related to the Proposed Transaction, which will be filed with the SEC. Additional information about Xenetic, the directors and executive officers of Xenetic and their ownership of Xenetic common stock can also be found in its Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on March 12, 2026, and amended on April 24, 2026, and its definitive proxy statement, as filed with the SEC on October 31, 2025, and other documents subsequently filed by Xenetic with the SEC. Free copies of these documents may be obtained as described above. To the extent holdings of Xenetic securities by its directors or executive officers have changed since the amounts set forth in such documents, such changes have been or are expected to be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Beneficial Ownership on Form 4 filed with the SEC. Additional information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be included in the Proxy Statement relating to the Proposed Transaction when it is filed with the SEC.
Contact:
JTC Team, LLC
Jenene Thomas
(908) 824-0775
xbio@jtcir.com
SOURCE: Xenetic Biosciences, Inc.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Xenetic Biosciences' third-quarter 2026 financial results?
Xenetic reported royalty revenue of approximately $0.7 million and a net loss of approximately $1.7 million, or $0.72 per basic and diluted share. In the comparable 2025 quarter, royalty revenue was approximately $1.0 million and net loss was approximately $0.5 million, or $0.33 per basic and diluted share.
When does Xenetic expect to complete its Santersus acquisition?
Xenetic expects the proposed all-stock acquisition of Santersus to close in the first quarter of 2027. Closing requires Xenetic shareholder approval, Nasdaq approval for listing the transaction shares, and effectiveness of a resale registration statement on Form S-1, alongside satisfaction or waiver of other customary closing conditions.
Why did Xenetic's royalty revenue decline in the third quarter of 2026?
The decline primarily reflected positive royalty adjustments recognized in the third quarter of 2025 from certain countries under Xenetic's sublicense agreement with Takeda Pharmaceutical. Royalty revenue decreased approximately 29% year over year to approximately $0.7 million.
What name and ticker would Xenetic use after the Santersus transaction?
After closing, the combined company is expected to trade on the Nasdaq Capital Market as Santersus Bio under the ticker SNTS.
Where is Xenetic's Phase I DNase I and CAR T-cell therapy study being conducted?
The investigator-initiated Phase I study, NCT07361224, is being conducted at Tel Aviv Sourasky University Medical Center in Israel in collaboration with PeriNess. It evaluates systemic recombinant human DNase I combined with anti-CD19 CAR T-cell therapy in patients with large B-cell lymphoma.