On February 14, 2014 Xenetic Biosciences, Inc. (OTCBB:XBIO), a biopharmaceutical company focused on developing next-generation biologic drugs and novel oncology therapeutics, reported that its common stock has commenced trading under new ticker symbol "XBIO" on the OTC Bulletin Board (OTCBB). Since changing its name in January, the Company has traded on the OTCBB under the ticker symbol "GAIFD (Press release, Xenetic Biosciences, FEB 14, 2014, View Source [SID1234537822])."
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Scott Maguire, CEO of Xenetic said, "We are pleased with our new ticker, which is more shareholder friendly and better represents Xenetic. This new XBIO ticker, together with our recent announcements regarding the appointment to our Board of Directors of Dr. Tim Coté, the former Director of the U.S. Food and Drug Administration Office of Orphan Products Development, and our recent agreement with Baxter Healthcare SA, which included an upfront $10 million equity investment and $100 million in potential future cash milestones, represent a major step toward making Xenetic a significant drug development player in the U.S. markets."
Xenetic currently has a total of 146,740,691 shares of common stock issued and outstanding, taking into account the Baxter investment in January, which resulted in the issuance of an additional 10,695,187 shares of common stock.