Xenetic Biosciences Q2 royalty revenue rises on Takeda sublicense
Xenetic Biosciences Q2 royalty revenue rises on Takeda sublicense
Overview
US biopharma firm's Q2 royalty revenue rose 12% yr/yr, driven by Takeda sublicense
Q2 net loss widened to $0.9 mln from $0.7 mln a year earlier
R&D expenses fell 16%, while G&A expenses rose 64% on higher legal costs
Result Drivers
ROYALTY REVENUE - Q2 royalty revenue rose 12% yr/yr, mainly due to increased receipts from Takeda sublicense
R&D SPENDING - Research and development expenses fell 16% due to lower manufacturing development efforts and reduced consulting costs
LEGAL COSTS - General and administrative expenses rose 64%, mainly due to higher legal expenses related to strategic review process
Company press release: ID:nACSVDKH0a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Loss |
| $900,000 |
|
Reuters Recommended Reads
Aug 5 - Royalty Pharma Q2 adjusted EBITDA beats estimates
Aug 5 - Biopharma firm Xencor's Q2 revenue beats on royalty revenue, milestone payments
Aug 6 - Agenus Q2 revenue rises on access and royalty income
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.)