Xenetic Biosciences is AIMing to succeed where Robbie Williams and Marks & Spencer have failed before it – by becoming a hit on both sides of the Atlantic.
The drug developer, which delisted from AIM in January to move to the more biotech-friendly US, has already picked up fans across the pond.
Respected Wall Street analyst Ray Dirks and his team are among them, having issued a bullish note on the company, now listed on the over-the-counter marketplace OTCBB and with plans to join the NASDAQ.
Ray Dirks Research notes the group is “unique” in that its largest shareholders are some of the leading commercial biotech companies on the planet – namely SynBio, Baxter and the Serum Institute of India.
“The shareholder list is one of the most impressive of all the biotech companies I have seen,” he says.
Its portfolio of 15 next-generation drugs, cancer therapies and vaccines means the company is far less reliant on a single hit as most biotechs are, he adds.
“Specifically, we think that those who take positions in Xenetic in the 200 to 250 million dollar market capitalization area, have a good chance of seeing their investment advance in price by 5 to 7 times over the next 3 to 5 years,” he argues.
The company completed its relocation from London today after opening its new headquarters in Lexington, Massachusetts.