Xenetic Biosciences, Inc. (NASDAQ:XBIO) Files An 8-K Other Events
Item 8.01. Other Events.
As previously reported, Xenetic Biosciences, Inc. (the “Company”) received a written notification on April 20, 2020 from the NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
On June 22, 2020, the Company received a letter from Nasdaq notifying the Company that it has regained compliance with NASDAQ Listing Rule 5550(a)(2) as a result of the closing bid price of the Company’s common stock being at $1.00 per share or greater for the 10 consecutive business days from June 8, 2020 through June 19, 2020 and that this matter is now closed.
About Xenetic Biosciences, Inc. (NASDAQ:XBIO)
Xenetic Biosciences, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the research and development of certain pharmaceutical products for use in humans that includes the use of the Company’s platform technologies that enables the creation of drug therapies primarily for orphan indications. The Company’s technologies include PolyXen, Virexxa, OncoHist and ImuXen. The Company is focused primarily on developing its lead product candidates, including ErepoXen, Virexxa and OncoHist, and PolyXen technology. The Company’s lead product candidate ErepoXen, a polysialylated form of erythropoietin (EPO) for the treatment of anemia in pre-dialysis patients with chronic kidney disease, and Food and Drug Administration (FDA) orphan designated oncology therapeutics Virexxa and OncoHist for the treatment of progesterone receptor negative endometrial cancer and refractory Acute Myeloid Leukemia, respectively. It is also developing PSA-FVIII.