Home Financial Markets Xenetic Biosciences Inc. (NASDAQ:XBIO) stock surged in the afterhours trading session; here’s...

Xenetic Biosciences Inc. (NASDAQ:XBIO) stock surged in the afterhours trading session; here’s why

At the time of writing, Xenetic Biosciences Inc. (XBIO) stock had surged by 7.69% to the price of $2.1 in the after-market trading session. XBIO stock previously closed the session at $1.95 losing -0.51%. The XBIO stock volume traded for 0.26 million shares. The current trade volume for the past 3 months has been 321.36K. In the past year up-to-date, XBIO stock jumped up by 126.74%. In the past week, the shares have moved down by -3.94%. In the past three and six months, the XBIO stock lost -20.73% while it gained 133.64% respectively. Furthermore, Xenetics Biosciences Inc. is currently valued in the market at $17.80 million and has 8.75 million outstanding shares.

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What we know about Xenetic Biosciences Inc.

Xenetic Biosciences, Inc., a biopharmaceutical company with a focus on discovering, researching, and developing of novel treatments and therapy products which include biologic drugs and novel oncology therapeutics. The company is headquartered in Framingham, Massachusetts.

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XBIO stock has a proprietary drug delivery system which it created through partnerships with biotechnology and pharmaceutical companies. This drug delivery platform is known as PolyXen.The product offering of the company also includes drug platform which includes the chimeric antigen receptor T cell which has been personalized (CAR T) and developed for the targeting of specific tumor neoantigens in the patients. This system is known as XCART. The malignant tumor cells are targeted through their B-cell receptors and provide treatment to the B-cell lymphomas.

XBIO’s leading drug platform XCART received approval for exploratory study

On 29th March 2021, the company announced that it has initiated the advancement of its drug platform of chimeric antigen receptor T cell for targeting specific tumor neoantigens known as XCART. This plan of action was decided right after Xenetic Biosciences Inc. received approval to for XCART’s exploratory study; initiating the exploratory patient biopsy which it was aiming to apply in the Eastern Europe.

From a preclinical point of view, this is a crucial step in the right direction for the development program to progress in and now NHL patients will be taken under evaluation for their treatment at study site or the samples of tumor are taken on which experimental and exploratory evaluation is done.

Potential for the study’s advancement means good news for XBIO stock

The study has been structured in such a format that Xenetic states it will allow them to potentially study the phase 1 in the future; evaluation of dosing of patients with the autologous CAR T products as well as other certain clinical parameters that are associated with the study. This study also has the potential to position the company into US IND-enabling programs.

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Xenetic Biosciences Inc. is collaborating with Scripps Research as well as PJSC Pharmasenthez for studying the XCART platform as they had previously done so on preclinical development stages of XCART and were co-inventors of this technology. The platform is specifically being studied in collaboration for finding ways to advance the development of B-cell malignancies.

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