Xenetic Biosciences: Rises as Maxim starts coverage with "buy"

Xenetic Biosciences

08/01/2020 13:50

** Shares of biopharma company  XBIO.O  rise 4% to $1.53
premarket 
    ** Maxim Group starts coverage with "buy" rating and PT of
$2.50, which represents a 70% upside to stock's last close of
$1.47
    ** Brokerage says XBIO is an early stage CAR (chimeric
antigen receptor) company with long-term potential; CAR is a
type of treatment in which a patient's T cells — a type of
immune system cell — are changed in the laboratory to attack
cancer cells
    ** "While it is early days for Xenetic, incremental
catalysts should drive a modestly higher valuation over 2020
while we await potential inflection in late 2021/2022 when XCART
moves into the clinic" - Maxim
    ** Stock lost 92% in 2019
             

 (Reporting by Susan Mathew in Bengaluru;)
 ((Reuters Messaging:
susan.mathew.thomsonreuters.com@reuters.net))