secwatch.observer — SEC 8-K summary
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Issuer:     Xilio Therapeutics, Inc. (XLO)
CIK:        0001840233
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001558370-24-004528
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840233/000155837024004528/0001558370-24-004528-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840233/000155837024004528/xlo-20240401x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-004528

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer