Xenetic Biosciences Q2 royalty revenue rises on Takeda sublicense - XBIO News | RalliesXenetic Biosciences Q2 royalty revenue rises on Takeda sublicense
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XBIO• Key details
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| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Net Loss | | $900,000 | |
Result drivers
- Royalty revenue - Q2 royalty revenue rose 12% yr/yr, mainly due to increased receipts from Takeda sublicense
- R&D spending - Research and development expenses fell 16% due to lower manufacturing development efforts and reduced consulting costs
- Legal costs - General and administrative expenses rose 64%, mainly due to higher legal expenses related to strategic review process
Quarterly overview
- US biopharma firm's Q2 royalty revenue rose 12% yr/yr, driven by Takeda sublicense
- Q2 net loss widened to $0.9 mln from $0.7 mln a year earlier
- R&D expenses fell 16%, while G&A expenses rose 64% on higher legal costs
