Xilio reports FY2023 net loss of $76.4M, Gilead licenses XTX301 for up to $604M

Xilio Therapeutics, Inc.

Cash and cash equivalents were $44.7M at Dec 31, 2023, down from $120.4M a year earlier.
Net loss was $17.7M for Q4 2023 and $76.4M for FY2023, vs $22.5M and $88.2M in 2022.
Gilead pays $43.5M upfront ($30M cash + $13.5M equity) for exclusive license to XTX301; Xilio eligible for up to $604M in milestones and tiered royalties.
Plans to initiate Phase 2 trial of XTX101 + atezolizumab in MSS CRC in Q3 2024, with initial data in Q4 2024.
Cash runway extended into Q2 2025 after Gilead upfront, $11.3M private placement, and workforce reduction of ~21%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.93

Xilio Therapeutics, Inc. reported financial results for fourth quarter and full year ended December 31, 2023.

Period: fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

Xilio Therapeutics, Inc. (Nasdaq: XLO), a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology therapies for people living with cancer, today announced pipeline progress and business updates and reported financial results for the fourth quarter and full year ended December 31, 2023.

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Xilio Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-004528

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