H.C. Wainwright Reaffirms Their Hold Rating on Xenetic Biosciences (XBIO)Valuation and risks to price target achievement. We maintain our Neutral rating. We look to potentially reassess our valuation of Xenetic pending visibility, in part, on timelines for entry of its lead DNase I asset into the clinic and initial path forward. Factors that could impact our valuation of the company include failed or inconclusive clinical trials, inability to raise sufficient funding to progress its programs, and commercialization risks. H.C. WAINWRIGHT & CO.