10-Q Filing

Xenetic Biosciences, Inc. CIK: 1534525 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001683168-23-005513`
Period End Date	20230630
Filing Date	20230810
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	xenetic_i10q-063023_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 56 Cash Flow Statement 36 Stockholders Equity 26

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$13.10M	USD	Point-in-time
Cash	`Cash`	$10.73M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$556.09K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.04M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.65M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.07M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$704.43K	USD	Point-in-time
Total assets	`Assets`	$14.72M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.52M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.54M	shares	Point-in-time
Total assets	`Assets`	$12.75M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.53M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.52M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$287.36K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$221.28K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$785.80K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$650.03K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$871.32K	USD	Point-in-time
Total liabilities	`Liabilities`	$871.32K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.07M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 10,000,000 shares authorized as of June 30, 2023 and December 31, 2022; 1,535,301 and 1,519,360 shares issued as of June 30, 2023 and December 31, 2022, respectively; 1,532,600 and 1,516,659 shares outstanding as of June 30, 2023 and December 31, 2022, respectively	`CommonStockValue`	$1.54K	USD	Point-in-time
Common stock, $0.001 par value; 10,000,000 shares authorized as of June 30, 2023 and December 31, 2022; 1,535,301 and 1,519,360 shares issued as of June 30, 2023 and December 31, 2022, respectively; 1,532,600 and 1,516,659 shares outstanding as of June 30, 2023 and December 31, 2022, respectively	`CommonStockValue`	$1.52K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$207.91M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$207.77M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-189.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-191.01M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$253.73K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$253.73K	USD	Point-in-time
Treasury stock	`TreasuryStockCommonValue`	$5.28M	USD	Point-in-time
Treasury stock	`TreasuryStockCommonValue`	$5.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.92M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$15.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.39M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.72M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.75M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Earnings Per Share, Basic	`EarningsPerShareBasic`	$-1.90	USD	1 Quarter
Earnings Per Share, Basic	`EarningsPerShareBasic`	$-1.25	USD	2 Qtrs
Earnings Per Share, Basic	`EarningsPerShareBasic`	$-0.69	USD	1 Quarter
Earnings Per Share, Basic	`EarningsPerShareBasic`	$-3.10	USD	2 Qtrs
Royalty revenue	`RoyaltyIncomeNonoperating`	$1.26M	USD	2 Qtrs
Royalty revenue	`RoyaltyIncomeNonoperating`	$805.70K	USD	2 Qtrs
Royalty revenue	`RoyaltyIncomeNonoperating`	$651.00K	USD	1 Quarter
Earnings Per Share, Diluted	`EarningsPerShareDiluted`	$-1.90	USD	1 Quarter
Earnings Per Share, Diluted	`EarningsPerShareDiluted`	$-0.69	USD	1 Quarter
Earnings Per Share, Diluted	`EarningsPerShareDiluted`	$-1.25	USD	2 Qtrs
Royalty revenue	`RoyaltyIncomeNonoperating`	$416.71K	USD	1 Quarter
Earnings Per Share, Diluted	`EarningsPerShareDiluted`	$-3.10	USD	2 Qtrs
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.52M	shares	1 Quarter
Total revenue	`Revenues`	$651.00K	USD	1 Quarter
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.38M	shares	2 Qtrs
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.41M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.52M	shares	2 Qtrs
Total revenue	`Revenues`	$1.26M	USD	2 Qtrs
Total revenue	`Revenues`	$805.70K	USD	2 Qtrs
Total revenue	`Revenues`	$416.71K	USD	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.52M	shares	2 Qtrs
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.41M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.52M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.38M	shares	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.08M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.50M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$903.24K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.18M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.93M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.03M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$945.95K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.87M	USD	2 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$1.85M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$3.10M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$5.11M	USD	2 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$3.37M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.31M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.20M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.69M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.11M	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.08K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$25.64K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$21.12K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-877.00	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$180.20K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$15.96K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$126.10K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$41.87K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$40.99K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$14.89K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$147.22K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$205.85K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-4.27M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.91M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.67M	USD	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.27M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.91M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.67M	USD	1 Quarter
Acquired in-process research and development	`ResearchAndDevelopmentsInProcess`	-	USD	2 Qtrs
Acquired in-process research and development	`ResearchAndDevelopmentsInProcess`	$1.30M	USD	2 Qtrs
Amortization of right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	-	USD	2 Qtrs
Amortization of right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$19.09K	USD	2 Qtrs
Share-based expense	`EmployeeBenefitsAndShareBasedCompensation`	$138.24K	USD	2 Qtrs
Share-based expense	`EmployeeBenefitsAndShareBasedCompensation`	$255.47K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInAccountsAndOtherReceivables`	$762.94K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-11.58K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-362.50K	USD	2 Qtrs
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-141.92K	USD	2 Qtrs
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-201.84K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.37M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.82M	USD	2 Qtrs
Net cash paid to acquire in-process research and development	`PaymentsToAcquireInProcessResearchAndDevelopment`	$500.00K	USD	2 Qtrs
Net cash paid to acquire in-process research and development	`PaymentsToAcquireInProcessResearchAndDevelopment`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-500.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.32M	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.37M	USD	2 Qtrs
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.10M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.24M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.73M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.93M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.10M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.24M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.73M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.93M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Issuance of common stock to acquire in-process research and development	`IssuanceOfCommonStockToAcquireInprocessResearchAndDevelopment`	-	USD	2 Qtrs
Issuance of common stock to acquire in-process research and development	`IssuanceOfCommonStockToAcquireInprocessResearchAndDevelopment`	$805.00K	USD	2 Qtrs

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$13.65M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$11.88M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$16.92M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$12.86M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$15.19M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$18.39M	USD	Point-in-time
Issuance of common stock in connection with purchase of in-process research and development	`IssuanceOfCommonStockInConnectionWithPurchaseOfInprocessResearchAndDevelopment`	$805.00K	USD	1 Quarter
Issuance of common stock in connection with purchase of in-process research and development	`IssuanceOfCommonStockInConnectionWithPurchaseOfInprocessResearchAndDevelopment`	$805.00K	USD	2 Qtrs
Issuance of common stock to adjust for reverse split rounding	`StockIssuedDuringPeriodValueReverseStockSplits`	0.00	shares	2 Qtrs
Issuance of common stock to adjust for reverse split rounding	`StockIssuedDuringPeriodValueReverseStockSplits`	0.00	shares	1 Quarter
Share-based expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$138.24K	USD	2 Qtrs
Share-based expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$135.87K	USD	1 Quarter
Share-based expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$69.39K	USD	1 Quarter
Share-based expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$255.47K	USD	2 Qtrs
Exercise of purchase warrants	`ExerciseOfPurchaseWarrantsValue`	-	USD	2 Qtrs
Exercise of purchase warrants	`ExerciseOfPurchaseWarrantsValue`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.27M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.91M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.67M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$13.65M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$11.88M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$16.92M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$12.86M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$15.19M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$18.39M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.