CLS Therapeutics Advocates for Management Overhaul at Xenetic Biosciences (XBIO) Following Stockholder Opposition to Executive Compensation

Key Summary:  On March 18, 2024, CLS Therapeutics, LLC, holding a 14% stake, sent a letter to the board's Corporate Secretary expressing dissatisfaction with the current management.

Market Cap: $7 million | Xenetic Biosciences, Inc., a biopharmaceutical company, focuses on advancing XCART, a personalized chimeric antigen receptor T cell (CAR T) platform technology engineered to target patient-specific tumor neoantigens. 

On March 18, 2024, CLS Therapeutics, LLC (14%) expressed its dissatisfaction with the management in a letter to the Corporate Secretary for the board of directors. This letter followed the stockholders' vote on December 6, 2023, which opposed the compensation of the Company’s named executive officers. CLS Therapeutics' concerns with the current management prompted them to call for changes in the senior management. Source