Xilio Therapeutics Inc ( (XLO) ) has released its Q3 earnings. Here is a breakdown of the information Xilio Therapeutics Inc presented to its investors.
Xilio Therapeutics, Inc., a clinical-stage biotechnology company, focuses on developing tumor-activated immuno-oncology therapies to improve cancer treatment outcomes.
In its recent earnings report for the third quarter of 2024, Xilio Therapeutics highlighted significant advancements in its pipeline, including the upcoming presentation of initial Phase 1C data for vilastobart in combination with atezolizumab at the SITC Annual Meeting and expected data releases for its other key programs in the fourth quarter.
Key financial highlights include a cash position of $61.3 million, increased license revenue of $2.3 million, and a narrowed net loss of $14.0 million compared to the previous year. The company continues to focus on its strategic clinical trials, notably advancing vilastobart and XTX301, while managing its research and development expenses, which saw a slight decline from the previous year.
Xilio is poised for further developments as it anticipates reporting initial Phase 2 data for vilastobart and Phase 1 data for XTX301 in the coming months, reflecting its commitment to advancing its clinical programs.
Looking ahead, Xilio’s management remains focused on achieving key data milestones and advancing its promising pipeline, with a cash runway sufficient to support operations through mid-2025.
