Xenetic Biosciences Inc 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number: 001-37937 XENETIC BIOSCIENCES, INC.(Exact name of registrant as specified in its charter) 945 Concord StreetFramingham, Massachusetts 01701(Address of principal executive offices and zip code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days:Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files):Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act: Large accelerated filerNon-accelerated filer Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):Yes☐No☒ As of May 8, 2026, the number of outstanding shares of the registrant’s common stock was 2,291,056. XENETIC BIOSCIENCES, INC.FORM 10-QQUARTERLY PERIOD ENDED MARCH 31, 2026 PART IFINANCIAL INFORMATIONItem 1Condensed Consolidated Financial Statements:3Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20253Condensed Consolidated Statements of Operations (Unaudited) for the three months ended March 31, 2026 and20254Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) for the three months ended March 31,2026 and 20255Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended March 31, 2026 and20256Notes to Condensed Consolidated Financial Statements (Unaudited)7Item 2Management’s Discussion and Analysis of Financial Condition and Results of Operations14Item 3Quantitative and Qualitative Disclosures About Market Risk20Item 4Controls and Procedures20PART IIOTHER INFORMATIONItem 1Legal Proceedings21Item 1ARisk Factors21Item 2Unregistered Sales of Equity Securities and Use of Proceeds21Item 3Defaults Upon Senior Securities21Item 4Mine Safety Disclosures21Item 5Other Information21Item 6Exhibits22Signatures23 PART I – FINANCIAL INFORMATION XENETIC BIOSCIENCES, INC.CONDENSED CONSOLIDATED BALANCE SHEETS XENETIC BIOSCIENCES, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited) XENETIC BIOSCIENCES, INC.CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY(Unaudited) THREE MONTHS ENDED MARCH 31, 2026 THREE MONTHS ENDED MARCH 31, 2025 XENETIC BIOSCIENCES, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) XENETIC BIOSCIENCES, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1.The Company Background XeneticBiosciences,Inc.(“Xenetic”or the“Company”),incorporated in the state of Nevada and based in Framingham,Massachusetts, is a biopharmaceutical company focused on advancing innovative immune-oncology technologies addressing difficultto treat cancers. The Company’s proprietary Deoxyribonuclease (“DNase”) technology is designed to improve outcomes of existingtreatments, including immunotherapies, by targeting neutrophil extracellular traps (“NETs”), which are involved in cancer progression.Xenetic is currently focused on advancing its systemic DNase program into the clinic as an adjunctive therapy for pancreaticcarcinoma and locally advanced or metastatic solid tumors. As used in this Quarterly Report on Form 10-Q (“Quarterly Report”), unless otherwise indicated, all references herein to “Xenetic,”the “Company,” “we” or “us” refer to Xenetic Biosciences, Inc. and its wholly-owned subsidiaries. The Company, directly or indirectly, through its wholly-owned subsidiaries, Hesperix S.A. (“Hesperix”) and Xenetic Biosciences(U.K.) Limited (“Xenetic UK”), and the wholly-owned subsidiaries of Xenetic UK, Lipoxen Technologies Limited (“Lipoxen”),Xenetic Bioscience, Incorporated and SymbioTec, GmbH (“SymbioTec”), own various United States (“U.S.”