Announces Closing of $6.0 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules :: (XBIO)
Summary
Announces Closing of $6.0 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules FRAMINGHAM, MA / ACCESSWIRE / December 14, 2020 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) ("Xenetic" or the "Company"), a biopharmaceutical company focused on advancing XCART™, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens, announced today the closing of its previously announced registered direct offering with several institutional and accredited investors for 2,448,980 shares of the Companys common stock at a purchase price of $2.45 per share, priced at-the-market under Nasdaq rules. The gross proceeds to the Company totaled approximately $6.0 million before deducting placement agent fees and other related offering expenses payable by Xenetic. The Company is initially advancing cell-based therapeutics targeting the unique B-cell receptor on the surface of an individual patients malignant tumor cells for the treatment of B-cell lymphomas. These statements can be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including, but not limited to, statements regarding: our anticipated uses for the net proceeds of the offering; our plans to initially apply the XCART technology to advance cell-based therapeutics by targeting the unique B-cell receptor on the surface of an individual patients malignant tumor cells for the treatment of B-cell lymphomas; our expectations that XCART has the potential to fuel a robust pipeline of therapeutic assets targeting high-value oncology indications; our plans to leverage PolyXen® by partnering with biotechnology and pharmaceutical companies; and our expectation regarding receipt of royalty payments under the exclusive license agreement with Takeda Pharmaceuticals Co. Ltd. Any forward-looking statements contained herein are based on current expectations, and are subject to a number of risks and uncertainties. Important factors that could cause actual activities, performance, achievements, or results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the acquisition of XCART; (2) uncertainty of the expected financial performance of the Company following completion of the acquisition of XCART; (3) failure to realize the anticipated potential of the XCART or PolyXen technology; (4) the ability of the Company to implement its business strategy; (5) the Companys use of proceeds from the registered direct offering; and (6) other risk factors as detailed from time to time in the Companys reports filed with the SEC, including its annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC.