Xenetic Biosciences Inc (OTCMKTS:XBIO) Slips On High Volume

[[tagnumber 0]][[tagnumber 1]]Xenetic Biosciences Inc (OTCMKTS:XBIO) rarely records any big volumes and we see the stock making small percentile movements daily. The ticker surged back in the middle of February after it was announced that Dr. Frost’s Opko Health Inc (NYSE:OPK) had acquired a 6.3% interest in the company.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The hype quickly dissipated and the volumes returned to their regular lows. March was almost uneventful and the ticker moved sideways, but [[tagnumber 6]]XBIO[[tagnumber 7]] began slowly sliding in the beginning of this month. One of the reasons for this might be the numbers that were contained in the company’s annual report that was filed on March 30.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $132 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $4.19 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $7.34 million[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]net loss: $12.50 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those numbers certainly don’t look all that well in the balance sheet of a biotech company and it is no wonder that [[tagnumber 6]]XBIO’s[[tagnumber 7]] $35 million market cap seems modest compared to other pennystocks in the industry.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]While [[tagnumber 6]]XBIO[[tagnumber 7]] has been sliding down the charts we have seen some sessions with increased volumes. Meanwhile, the company hasn’t issued any press releases recently and the investor message boards also seem pretty quiet.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yesterday the ticker took a hit out of nowhere, as it fell 12.65% and closed at $0.2351. The volume was nearly five times the 30–day average, but the 378 thousand shares that changed their owners at these prices generated only $94 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]XBIO[[tagnumber 7]] is doing a bit better in today’s session, but the lack of news means that its direction can hardly be predicted. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]