---
title: "Xenetic Biosciences | 10-K: FY2025 Revenue: USD 2.976 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278943945.md"
datetime: "2026-03-12T21:03:34.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278943945.md)
  - [en](https://longbridge.com/en/news/278943945.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278943945.md)
---

# Xenetic Biosciences | 10-K: FY2025 Revenue: USD 2.976 M

Revenue: As of FY2025, the actual value is USD 2.976 M.

EPS: As of FY2025, the actual value is USD -1.58, beating the estimate of USD -2.04.

EBIT: As of FY2025, the actual value is USD -2.983 M.

#### Segment Revenue

-   Xenetic Biosciences, Inc. operates as a single segment.
-   Royalty revenue was $2,976,411 for the year ended December 31, 2025, an increase of 19.0% from $2,500,284 in 2024.

#### Operational Metrics

-   **Research and Development (R&D) Expenses**: R&D expenses decreased by 6.8% to - $3,065,484 in 2025 from - $3,288,332 in 2024. Excluding a $0.7 million impairment charge in 2024, adjusted R&D expenses increased by 18.6% to $3.1 million in 2025 from $2.6 million in 2024, driven by increased consulting, pre-clinical, manufacturing development, and DNase exploratory studies.
-   **General and Administrative Expenses**: These expenses decreased by 19.6% to - $2,745,509 in 2025 from - $3,416,380 in 2024, primarily due to reduced severance and benefits expenses, partially offset by higher legal and accounting costs.
-   **Total Operating Costs and Expenses**: Total operating costs and expenses decreased by 13.3% to - $5,810,993 in 2025 from - $6,704,712 in 2024.
-   **Loss from Operations**: Loss from operations decreased by 32.6% to - $2,834,582 in 2025 from - $4,204,428 in 2024.
-   **Net Loss**: The net loss for 2025 was - $2,680,860, a 32.3% decrease from - $3,960,275 in 2024.
-   **Accumulated Deficit**: The accumulated deficit was - $199.9 million as of December 31, 2025, compared to - $197.2 million at December 31, 2024.

#### Other Income (Expense)

-   Other income (expense) was $5,725 in 2025, compared to - $5,708 in 2024, mainly due to favorable changes in foreign currency exchange rates.
-   Net interest income decreased to $147,997 in 2025 from $249,861 in 2024, attributed to lower average invested funds.

#### Cash Flow and Liquidity

-   **Cash Flows Used in Operating Activities**: Cash flows used in operating activities totaled - $2,286,651 in 2025, compared to - $2,817,478 in 2024.
-   **Cash Flows from Financing Activities**: Cash flows from financing activities were $4,004,715 in 2025, representing net proceeds from an underwritten public common stock offering, with no financing activities in 2024.
-   **Cash Balance**: The company’s cash balance was $7.9 million at December 31, 2025, up from $6.2 million at December 31, 2024.
-   **Working Capital**: Working capital increased by approximately $1.4 million to $7.1 million at December 31, 2025, from $5.7 million at December 31, 2024.

#### Outlook / Guidance

Xenetic Biosciences, Inc. has initiated a formal strategic review process to maximize shareholder value, considering options such as asset sales or business combinations, including a reverse merger. While an independent committee is in preliminary discussions with third parties, there is no definitive timetable or guarantee of a transaction. The company expects continued operating losses and will require additional capital in the long-term to fund its business initiatives, despite current resources being adequate for at least twelve months from the financial statements’ issuance date.

### Related Stocks

- [XBIO.US](https://longbridge.com/en/quote/XBIO.US.md)

## Related News & Research

- [Xenetic Biosciences Reports First Quarter 2026 Financial Results and Highlights Continued Advancement of DNase Oncology Platform | XBIO Stock News](https://longbridge.com/en/news/286257227.md)
- [Xenetic Biosciences' Q1 royalty revenue rises, net loss narrows](https://longbridge.com/en/news/286258667.md)