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Xenetic Biosciences Q3 royalty revenue falls 29% ahead of Santersus deal

By Reuters News


Overview

  • US biopharma firm's Q3 royalty revenue fell 29% yr/yr due to prior-year royalty adjustments

  • Q3 net loss widened to $1.7 mln, with higher costs tied to proposed Santersus deal

  • Company announced definitive share exchange agreement with Santersus AG, expected to close Q1 2027


Outlook

  • Company expects proposed Santersus transaction to close in Q1 2027, pending approvals

  • Combined company anticipates oncology clinical readout in 2027

  • Company highlights ongoing pivotal sepsis study and planned advancement in lupus for combined entity


Result Drivers

  • ROYALTY REVENUE DECLINE - Co said Q3 royalty revenue fell due to positive royalty adjustments recognized in the prior-year period under its Takeda sublicense agreement

  • HIGHER TRANSACTION COSTS - Co attributed increase in general and administrative expenses to legal and financial advisory costs related to proposed Santersus deal

  • LOWER R&D SPEND - Co said research and development expenses fell due to lower manufacturing development costs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Loss

$1.7 mln


Reuters Recommended Reads

  • Nov 12 - SELLAS Life Sciences Q3 net loss widens on higher R&D costs

  • Nov 12 - Kodiak Sciences Q3 net loss widens as R&D expenses rise

  • Nov 12 - Pliant Therapeutics Q3 net loss narrows on lower expenses


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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