Xenetic Biosciences (XBIO) 10-Q 13 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 09, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-37937
Entity Registrant Name	XENETIC BIOSCIENCES, INC.
Entity Central Index Key	0001534525
Entity Tax Identification Number	45-2952962
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	945 Concord Street
Entity Address, City or Town	Framingham
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01701
City Area Code	781
Local Phone Number	778-7720
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	XBIO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,542,139

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 7,298,597	$ 8,983,046
Prepaid expenses, receivables and other	716,381	603,828
Total current assets	8,014,978	9,586,874
Other assets	1,018,352	1,018,352
Total assets	9,033,330	10,605,226
Current liabilities:
Accounts payable	283,586	240,832
Accrued expenses and other current liabilities	1,304,016	568,753
Total current liabilities	1,587,602	809,585
Total liabilities	1,587,602	809,585
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value; 10,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 1,543,802 and 1,543,385 shares issued as of June 30, 2024 and December 31, 2023, respectively; 1,541,101 and 1,540,684 shares outstanding as of June 30, 2024 and December 31, 2023, respectively	1,544	1,544
Additional paid in capital	208,173,105	208,053,935
Accumulated deficit	(195,703,279)	(193,234,196)
Accumulated other comprehensive income	253,734	253,734
Treasury stock	(5,281,180)	(5,281,180)
Total stockholders' equity	7,445,728	9,795,641
Total liabilities and stockholders' equity	9,033,330	10,605,226
Series B Preferred Stock [Member]
Stockholders' equity:
Preferred Stock, Value, Issued	$ 1,804	$ 1,804

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Shares, Issued	1,543,802	1,543,385
Common Stock, Shares, Outstanding	1,541,101	1,540,684
Series B Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Issued	1,804,394	1,804,394
Preferred Stock, Shares Outstanding	1,804,394	1,804,394

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Royalty revenue	$ 726,404	$ 651,005	$ 1,237,221	$ 1,256,849
Total revenue	726,404	651,005	1,237,221	1,256,849
Operating costs and expenses:
Research and development	(933,771)	(903,243)	(1,878,092)	(1,498,519)
General and administrative	(1,130,029)	(945,950)	(1,964,939)	(1,871,693)
Total operating costs and expenses	(2,063,800)	(1,849,193)	(3,843,031)	(3,370,212)
Loss from operations	(1,337,396)	(1,198,188)	(2,605,810)	(2,113,363)
Other income (expense):
Other (expense) income	(21)	21,122	31	25,642
Interest income, net	63,447	126,103	136,696	180,204
Total other income	63,426	147,225	136,727	205,846
Net loss	$ (1,273,970)	$ (1,050,963)	$ (2,469,083)	$ (1,907,517)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Earnings Per Share, Basic	$ (0.83)	$ (0.69)	$ (1.60)	$ (1.25)
Earnings Per Share, Diluted	$ (0.83)	$ (0.69)	$ (1.60)	$ (1.25)
Weighted Average Number of Shares Outstanding, Basic	1,540,799	1,524,717	1,540,741	1,520,710
Weighted Average Number of Shares Outstanding, Diluted	1,540,799	1,524,717	1,540,741	1,520,710

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member]	Total
Beginning balance, value at Dec. 31, 2022	$ 2,774	$ 1,520	$ 207,769,904	$ (189,099,618)	$ 253,734	$ (5,281,180)	$ 13,647,134
Beginning balance, shares at Dec. 31, 2022	2,774,394	1,519,360
Share-based expense			138,241				138,241
Net loss				(1,907,517)			(1,907,517)
Issuance of common stock to adjust for reverse split rounding		$ 16	(16)
Issuance of common stock to adjust for reverse split rounding, shares		15,941
Ending balance, value at Jun. 30, 2023	$ 2,774	$ 1,536	207,908,129	(191,007,135)	253,734	(5,281,180)	11,877,858
Ending balance, shares at Jun. 30, 2023	2,774,394	1,535,301
Beginning balance, value at Mar. 31, 2023	$ 2,774	$ 1,520	207,838,756	(189,956,172)	253,734	(5,281,180)	12,859,432
Beginning balance, shares at Mar. 31, 2023	2,774,394	1,519,360
Share-based expense			69,389				69,389
Net loss				(1,050,963)			(1,050,963)
Issuance of common stock to adjust for reverse split rounding		$ 16	(16)
Issuance of common stock to adjust for reverse split rounding, shares		15,941
Ending balance, value at Jun. 30, 2023	$ 2,774	$ 1,536	207,908,129	(191,007,135)	253,734	(5,281,180)	11,877,858
Ending balance, shares at Jun. 30, 2023	2,774,394	1,535,301
Beginning balance, value at Dec. 31, 2023	$ 1,804	$ 1,544	208,053,935	(193,234,196)	253,734	(5,281,180)	9,795,641
Beginning balance, shares at Dec. 31, 2023	1,804,394	1,543,385
Issuance of common stock in connection with restricted stock
Issuance of common stock in connection with restricted stock, shares		417
Share-based expense			119,170				119,170
Net loss				(2,469,083)			(2,469,083)
Ending balance, value at Jun. 30, 2024	$ 1,804	$ 1,544	208,173,105	(195,703,279)	253,734	(5,281,180)	7,445,728
Ending balance, shares at Jun. 30, 2024	1,804,394	1,543,802
Beginning balance, value at Mar. 31, 2024	$ 1,804	$ 1,544	208,131,009	(194,429,309)	253,734	(5,281,180)	8,677,602
Beginning balance, shares at Mar. 31, 2024	1,804,394	1,543,385
Issuance of common stock in connection with restricted stock
Issuance of common stock in connection with restricted stock, shares		417
Share-based expense			42,096				42,096
Net loss				(1,273,970)			(1,273,970)
Ending balance, value at Jun. 30, 2024	$ 1,804	$ 1,544	$ 208,173,105	$ (195,703,279)	$ 253,734	$ (5,281,180)	$ 7,445,728
Ending balance, shares at Jun. 30, 2024	1,804,394	1,543,802

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,273,970)	$ (1,050,963)	$ (2,469,083)	$ (1,907,517)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based expense	42,096	69,389	119,170	138,241
Changes in operating assets and liabilities:
Prepaid expenses, receivables and other			(112,553)	(762,941)
Other assets			0	362,500
Accounts payable, accrued expenses and other liabilities			778,017	(201,841)
Net cash used in operating activities			(1,684,449)	(2,371,558)
Net change in cash			(1,684,449)	(2,371,558)
Cash at beginning of period			8,983,046	13,097,265
Cash at end of period	$ 7,298,597	$ 10,725,707	7,298,597	10,725,707
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest			$ 0	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (1,273,970)	$ (1,050,963)	$ (2,469,083)	$ (1,907,517)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

The Company

The Company	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	1. The Company Background Xenetic Biosciences, 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 hard to treat cancers. The Company’s proprietary Deoxyribonuclease (“DNase”) platform is designed to improve outcomes of existing treatments, including immunotherapies, by targeting neutrophil extracellular traps (“NETs”), which have been implicated in cancer progression and resistance to cancer treatments. Xenetic is currently focused on advancing its systemic DNase program into the clinic as an adjunctive therapy for pancreatic carcinoma and locally advanced or metastatic solid tumors. Additionally, Xenetic has partnered with biotechnology and pharmaceutical companies to develop its proprietary drug delivery platform, PolyXen ® 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.”) federal trademark registrations and applications along with unregistered trademarks and service marks, including but not limited to XCART™, OncoHist™, PolyXen, ErepoXen™, and ImuXen™, which may be used throughout this Quarterly Report. All other company and product names may be trademarks of the respective companies with which they are associated. Going Concern and Management’s Plan Management evaluates whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The Company has incurred substantial losses since its inception and expects to continue to incur operating losses in the near-term. The Company believes that its existing resources will be adequate to fund the Company’s operations for a period of at least twelve months from the date of the issuance of these financial statements. However, the Company anticipates it will need additional capital in the long-term to pursue its business initiatives. While the Company believes it has access to capital resources through possible public or private equity offerings, debt financings, corporate collaborations, related party funding, or other means to continue as a going concern, the terms, timing and extent of any future financing will depend upon several factors, including the achievement of progress in its product development programs, its ability to identify and enter into licensing or other strategic arrangements, its continued listing on the Nasdaq Stock Market (“Nasdaq”), and factors related to financial, economic, geo-political, industry and market conditions, many of which are beyond its control. The capital markets for the biotech industry can be highly volatile, which make the terms, timing and extent of any future financing uncertain.

Risks and Uncertainties

Risks and Uncertainties	6 Months Ended
	Jun. 30, 2024
Risks and Uncertainties [Abstract]
Risks and Uncertainties	2. Risks and Uncertainties Impact of Global Conflicts on Operations The short and long-term implications of Russia’s invasion of Ukraine and conflict in the Middle East are difficult to predict at this time. The imposition of current and future sanctions and counter sanctions may have an adverse effect on the economic markets generally and could impact our business, financial condition, and results of operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Preparation of Interim Financial Statements The accompanying condensed consolidated interim financial statements were prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the results of the interim periods shown. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such SEC rules and regulations. Management believes that the disclosures made are adequate to make the information presented not misleading. The results for the interim periods are not necessarily indicative of results for the full year. The condensed consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 21, 2024, and amended on April 26, 2024. On May 15, 2023, the Company effected a reduction, on a 1-for-10 basis Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of Hesperix, Xenetic UK and Xenetic UK’s wholly owned subsidiaries: Lipoxen, Xenetic Bioscience, Incorporated, and SymbioTec. Certain of the Company’s subsidiaries require guarantees of support from Xenetic. While all intercompany balances and transactions have been eliminated in consolidation, the Company has $0.2 million of cash collateralizing these guarantees. Basic and Diluted Net Loss per Share The Company computes basic net loss per share by dividing net loss applicable to common stockholders by the weighted-average number of shares of the Company’s common stock outstanding during the period. The Company computes diluted net loss per share after giving consideration to the dilutive effect of stock options that are outstanding during the period, except where such non-participating securities would be anti-dilutive. For the three and six months ended June 30, 2024 and 2023, basic and diluted net loss per share are the same in each respective period due to the Company’s net loss position. Potentially dilutive, non-participating securities have not been included in the calculations of diluted net loss per share, as their inclusion would be anti-dilutive.

Significant Strategic Collabora

Significant Strategic Collaborations	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Significant Strategic Collaborations	4. Significant Strategic Collaborations Takeda Pharmaceutical Co. Ltd. (together with its wholly-owned subsidiaries, “Takeda”) In October 2017, the Company granted to Takeda the right to grant a non-exclusive sublicense to certain patents related to the Company’s PolyXen technology that were previously exclusively licensed to Takeda in connection with products related to the treatment of blood and bleeding disorders. Royalty payments of approximately $ 0.7 million 1.2 million 0.7 million 1.3 million Belgian Volition SARL Limited (“Volition”) Collaboration On August 2, 2022, the Company announced a research and development collaboration with Volition to develop NETs-targeted adoptive cell therapies for the treatment of cancer. The collaboration is an early exploratory program to evaluate the potential combination of Volition’s Nu.Q ® Catalent Pharma Solutions LLC (“Catalent”) On June 30, 2022, the Company entered into a Statement of Work (the “SOW”) with Catalent to outline the general scope of work, timeline, and pricing pursuant to which Catalent will provide certain services to the Company to perform cGMP manufacturing of the Company’s recombinant protein, Human DNase I. The parties agreed to enter into a Master Services Agreement that will contain terms and conditions to govern the project contemplated by the SOW and that will supersede the addendum to the SOW containing Catalent's standard terms and conditions. The Company has paid Catalent approximately $ 2.5 million 28,000 0.1 million 49,000 no 0.3 million Scripps Research Institute (“Scripps Research”) On March 17, 2023, the Company and Scripps Research entered into a Research Funding and Option Agreement (the “Agreement”), pursuant to which the Company has agreed to provide Scripps Research an aggregate of up to $0.9 million to fund research relating to advancing the pre-clinical development of the Company’s DNase oncology platform technology. Under the Agreement, the Company has the option to acquire a worldwide exclusive license to Scripps Research’s rights in the Technology or Patent Rights (as defined in the Agreement), as well as a non-exclusive, royalty-free, non-transferrable license to make and use TSRI Technology (as defined in the Agreement) solely for the Company’s internal research purposes during the performance of the research program contemplated by the Agreement. During the second quarter of 2024, the Company amended the Agreement to extend the term to October 31, 2024 with no additional funding required. The Company has paid Scripps Research approximately $ 0.9 million 0.1 million 0.4 million University of Virginia (“UVA”) On December 21, 2023, the Company entered into a Research Funding and Material Transfer Agreement with UVA (the “UVA Agreement”) to advance the development of our systemic DNase program. Under the terms of the UVA Agreement, n addition to advancing our existing intellectual property, we have an option to acquire an exclusive license to any new intellectual property arising from the DNase research program. Allan Tsung, MD, a member of the Company’s Scientific Advisory Board and will oversee the research conducted under the UVA Agreement. 0.2 million no Other Agreements The Company has also entered into various research, development, license and supply agreements with Serum Institute of India (“Serum Institute”), PJSC Pharmsynthez (“Pharmsynthez”) and SynBio LLC (“SynBio”), a wholly owned subsidiary of Pharmsynthez. The Company and its collaborative partners continue to engage in research and development activities with no resultant commercial products through June 30, 2024. No

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	5. Accrued Expenses and Other Current Liabilities On June 19, 2024, the Company entered into a confidential separation agreement and general release with each of Jeffrey F. Eisenberg, the Company’s former Chief Executive Officer (the “Eisenberg Separation Agreement”), and Curtis Lockshin, the Company’s former Chief Scientific Officer (the “Lockshin Separation Agreement” and together, the “Separation Agreements”) pursuant to which Messrs. Eisenberg and Lockshin were each eligible for certain severance payments and benefits consistent with the terms of their existing employment agreements as described under “Employment Agreements with our Named Executive Officers” in the Amendment No. 1 to Annual Report on Form 10-K/A filed by the Company with the Securities and Exchange Commission on April 26, 2024. In addition, the Eisenberg Separation Agreement provides for accelerated vesting of all of the unvested stock options held by Mr. Eisenberg as of May 16, 2024. As of June 30, 2024, the Company expensed approximately $ 0.8 million 13,000 0.8 million

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements Accounting Standards Codification Topic 820, Fair Value Measurement,

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders’ Equity	7. Stockholders’ Equity Common Stock Each share of the Company’s common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to dividends when and if declared by the Board of Directors. In the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Company, the holders of common stock are entitled to share ratably in the assets of the Company available for distribution. On May 11, 2023, the Company filed a Certificate of Change to the Company’s Articles of Incorporation with the Secretary of State of Nevada to effect the Reverse Stock Split. The Reverse Stock Split was effective at 12:01 a.m., Eastern Time, on May 15, 2023. No fractional shares were issued as a result of the Reverse Stock Split and any remaining share fractions were rounded up to the nearest whole share, resulting in 15,941 Warrants The Company has warrants to purchase approximately 462,963 33.00 February 23, 2025 No In addition, the Company had publicly traded warrants to purchase approximately 2,100 130.00 July 19, 2024 None The Company also has warrants to purchase approximately 800 outstanding 29.09 July 3, 2026 None

Share-Based Expense

Share-Based Expense	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Expense	8. Share-Based Expense Total share-based expense related to stock options and RSU’s was approximately $42,000 and $0.1 million for the three months ended June 30, 2024 and 2023, respectively, and approximately $0.1 million and $0.1 million for each of the six months ended June 30, 2024 and 2023. Share-based expense is classified in the condensed consolidated statements of operations as follows: Schedule of share-based compensation expense Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Research and development expenses $ (3,804 ) $ 13,778 $ 11,433 $ 27,466 General and administrative expenses 45,900 55,611 107,737 110,775 $ 42,096 $ 69,389 $ 119,170 $ 138,241 Employee Stock Options and RSU’s During the three and six months ended June 30, 2024, 20,000 No No 42,000 0.1 million 0.1 million 417 No 11,667 No Non-Employee Stock Options There were no

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes During the three and six months ended June 30, 2024 and 2023, there was no 40.4 million 39.7 million As of June 30, 2024 and December 31, 2023, the Company did no

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	10. Related Party Transactions The Company has entered into various research, development, license and supply agreements with Serum Institute and Pharmsynthez, each a related party whose relationship has not materially changed from that disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 21, 2024, as amended on April 26, 2024. During the fourth quarter of 2019, the Company entered into a loan agreement with Pharmsynthez (the “Pharmsynthez Loan”), pursuant to which the Company advanced Pharmsynthez an aggregate principal amount of up to $ 500,000 Pharmsynthez paid all obligations due under the Pharmsynthez Loan in May 2023, and no further amounts are due under the Pharmsynthez Loan. As a result, no 65,000 40,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Preparation of Interim Financial Statements	Preparation of Interim Financial Statements The accompanying condensed consolidated interim financial statements were prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the results of the interim periods shown. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such SEC rules and regulations. Management believes that the disclosures made are adequate to make the information presented not misleading. The results for the interim periods are not necessarily indicative of results for the full year. The condensed consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 21, 2024, and amended on April 26, 2024. On May 15, 2023, the Company effected a reduction, on a 1-for-10 basis
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of Hesperix, Xenetic UK and Xenetic UK’s wholly owned subsidiaries: Lipoxen, Xenetic Bioscience, Incorporated, and SymbioTec. Certain of the Company’s subsidiaries require guarantees of support from Xenetic. While all intercompany balances and transactions have been eliminated in consolidation, the Company has $0.2 million of cash collateralizing these guarantees.
Basic and Diluted Net Loss per Share	Basic and Diluted Net Loss per Share The Company computes basic net loss per share by dividing net loss applicable to common stockholders by the weighted-average number of shares of the Company’s common stock outstanding during the period. The Company computes diluted net loss per share after giving consideration to the dilutive effect of stock options that are outstanding during the period, except where such non-participating securities would be anti-dilutive. For the three and six months ended June 30, 2024 and 2023, basic and diluted net loss per share are the same in each respective period due to the Company’s net loss position. Potentially dilutive, non-participating securities have not been included in the calculations of diluted net loss per share, as their inclusion would be anti-dilutive.

Share-Based Expense (Tables)

Share-Based Expense (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of share-based compensation expense	Schedule of share-based compensation expense Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Research and development expenses $ (3,804 ) $ 13,778 $ 11,433 $ 27,466 General and administrative expenses 45,900 55,611 107,737 110,775 $ 42,096 $ 69,389 $ 119,170 $ 138,241

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative)	May 15, 2023
Accounting Policies [Abstract]
Stockholders' Equity, Reverse Stock Split	1-for-10 basis

Significant Strategic Collabo_2

Significant Strategic Collaborations (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended	16 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jun. 30, 2024
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty income	$ 726,404	$ 651,005	$ 1,237,221	$ 1,256,849
Research and development expenses	933,771	903,243	1,878,092	1,498,519
Prepaid expenses and other current assets	716,381		716,381		$ 603,828	$ 716,381
Revenues	726,404	651,005	1,237,221	1,256,849
Collaborative Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues	0	$ 0	0	$ 0
Catalent Pharma Solutions [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expenses			2,500,000
Prepaid expenses and other current assets	28,000		28,000		100,000	28,000
Accrued expenses and other current liabilities	49,000		49,000		0	49,000
Other assets	300,000		300,000		300,000	300,000
Scripps Research [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expenses						900,000
Prepaid expenses and other current assets	$ 100,000		100,000		400,000	$ 100,000
University Of Virginia [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expenses			$ 200,000		$ 0

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Offsetting Assets [Line Items]
Share based compensation	$ 42,096	$ 69,389	$ 119,170	$ 138,241
Separation Agreements [Member]
Offsetting Assets [Line Items]
Labor and related expenses			800,000
Share based compensation			13,000
Accrued expenses and other current liabilities	$ 800,000		$ 800,000

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - $ / shares		3 Months Ended		6 Months Ended
	May 11, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Publicly Traded Warrants [Member]
Class of Stock [Line Items]
Warrant Outstanding		2,100		2,100		2,100
Exercise price		$ 130		$ 130
Maturity date		Jul. 19, 2024		Jul. 19, 2024
Other Warrants [Member]
Class of Stock [Line Items]
Warrant Outstanding		800		800		800
Exercise price		$ 29.09		$ 29.09
Maturity date		Jul. 03, 2026		Jul. 03, 2026
Warrants exercised		0	0	0	0
Warrants forfeited		0	0	0	0
Common Stock [Member]
Class of Stock [Line Items]
Issuance of common stock to adjust for reverse split rounding, shares	15,941
Series A Warrants [Member]
Class of Stock [Line Items]
Warrant Outstanding		462,963		462,963		462,963
Exercise price		$ 33		$ 33
Maturity date		Feb. 23, 2025		Feb. 23, 2025
Warrants exercised		0	0	0	0
Warrants forfeited		0	0	0	0
Publicly Traded Warrants [Member]
Class of Stock [Line Items]
Warrants exercised		0	0	0	0
Warrants forfeited		0	0	0	0

Share-Based Expense (Details -

Share-Based Expense (Details - Share based expense) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 42,096	$ 69,389	$ 119,170	$ 138,241
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	(3,804)	13,778	11,433	27,466
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 45,900	$ 55,611	$ 107,737	$ 110,775

Share-Based Expense (Details Na

Share-Based Expense (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	$ 42,096	$ 69,389	$ 119,170	$ 138,241
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted	20,000	0	20,000	0
Share based compensation	$ 42,000	$ 100,000	$ 100,000	$ 100,000
Options exercised	0	0	0	0
Options forfeited	11,667		11,667
Options expired		0		0
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Other than options granted, shares	0	0	0	0
Stock issued for RSU's	417		417
Non Employee Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted	0	0	0	0
Options exercised	0	0	0	0

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 0	$ 0	$ 0	$ 0
Deferred tax valuation allowance	40,400,000		40,400,000		$ 39,700,000
Unrecognized tax positions	$ 0		$ 0		$ 0

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - Pharmsynthez [Member] - Co Development Agreement [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Dec. 31, 2019	Jun. 30, 2023
Related Party Transaction [Line Items]
Payments to Acquire Notes Receivable		$ 500,000
Interest and Other Income	$ 65,000
Interest Income Only [Member]
Related Party Transaction [Line Items]
Interest and Other Income			$ 40,000