Xenetic Biosciences Q3 royalty revenue falls 29% ahead of Santersus deal
XBIO•Xenetic Biosciences said third-quarter royalty revenue fell 29% year over year due to prior-year royalty adjustments, while its net loss widened to $1.7 million. The company signed a definitive share exchange agreement with Santersus AG, which it expects to close in the first quarter of 2027, pending approvals.
1. Quarterly results
Xenetic Biosciences’ third-quarter royalty revenue fell 29% year over year, which the company attributed to positive royalty adjustments recognized in the prior-year period under its Takeda sublicense agreement. Its net loss widened to $1.7 million, while general and administrative expenses rose because of legal and financial advisory costs for the proposed Santersus deal. Research and development expenses fell on lower manufacturing development costs.
2. Santersus agreement
The company announced a definitive share exchange agreement with Santersus AG and expects the transaction to close in the first quarter of 2027, pending approvals. The combined company anticipates an oncology clinical readout in 2027 and highlights an ongoing pivotal sepsis study and planned advancement in lupus.
