XBIO - Xenetic Bio cut to Neutral at H.C. Wainwright on lack of catalysts
2023-05-16 11:27:04 ET
- Cell therapy company Xenetic Biosciences ( NASDAQ: XBIO ) trended lower Tuesday after H.C. Wainwright downgraded its shares to Neutral from Buy, citing concerns on the biotech’s catalysts path.
- Despite the company’s recently-announced reverse stock split, XBIO shares will continue to fall as investors react to the reverse, Xenetic’s ( XBIO ) second in four years, as well as a lack of upcoming catalysts, the analyst Joseph Pantginis argued.
- Specifically, Pantginis seeks clarity on when the company can bring its lead DNase-based oncology program into the clinic and updates on its initial progress. However, according to the analyst, the reverse stock split is not a concern given the volatile healthcare markets.
- In April, Xenetic ( XBIO ) announced a research and development collaboration with The Scripps Research Institute amid plans to proceed with a first-in-human study for DNase combined with immune checkpoint inhibitors or chemotherapy.
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Xenetic Bio cut to Neutral at H.C. Wainwright on lack of catalysts