Xilio Therapeutics Inc ( (XLO) ) has released its Q4 earnings. Here is a breakdown of the information Xilio Therapeutics Inc presented to its investors.
Xilio Therapeutics Inc. is a clinical-stage biotechnology company focused on developing tumor-activated immuno-oncology therapies to improve cancer treatment outcomes. The company recently reported its financial results for the fourth quarter and full year of 2024, alongside updates on its pipeline and business operations.
Xilio highlighted significant progress in its pipeline, including promising initial Phase 2 data for vilastobart, a tumor-activated anti-CTLA-4 therapy, in combination with atezolizumab for treating metastatic microsatellite stable colorectal cancer. The company also announced a strategic collaboration with AbbVie to develop novel tumor-activated immunotherapies, which provided a substantial upfront payment.
Key financial metrics from the report include a cash position of $55.3 million at the end of 2024, bolstered by a $52.0 million upfront payment from AbbVie. The company reported a net loss of $13.1 million for the fourth quarter and $58.2 million for the full year, showing a reduction from the previous year’s losses. Research and development expenses decreased due to strategic shifts in project focus.
Looking ahead, Xilio plans to continue advancing its pipeline, with additional data from ongoing trials expected in 2025. The company remains focused on leveraging its tumor-activation technology to enhance the efficacy and safety of its therapies, with sufficient funding anticipated to support operations into early 2026.
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