Xenetic Biosciences Shares Edge Down Ahead of ASCO Update
Xenetic Biosciences shares slipped 4 cents to $2.90 in thin early Nasdaq trading Friday, with only 144 shares changing hands. The company holds $7.3 million in cash and is set to present cancer drug research at an ASCO poster session on June 1. Xenetic is still considering strategic alternatives. First-quarter royalty revenue rose 36% to $807,000, while net loss narrowed to $456,000.