Xilio Therapeutics, Inc. (XLO) Bundle
A Brief History of Xilio Therapeutics, Inc.
Xilio Therapeutics, Inc. has undergone significant developments in its history leading up to 2024. The company is focused on advancing cancer therapies through innovative approaches, particularly in the area of tumor-activated interleukin-12 (IL-12) therapies.
Founding and Early Developments
Xilio was founded in 2018 with a mission to develop therapies that activate the immune system to fight cancer. The company initially focused on its lead product candidate, vilastobart (XTX101), which is designed to target tumors selectively.
Financial Milestones
As of September 30, 2024, Xilio reported a total revenue of $4.6 million for the nine months ended September 30, 2024, primarily from a licensing agreement with Gilead Sciences, Inc.. This represented a significant increase from previous years, as the company had no revenue reported for the same period in 2023.
Recent Business Developments
In March 2024, Xilio entered into a license agreement with Gilead, granting them exclusive global rights to develop and commercialize XTX301, another promising product candidate. This agreement included an upfront payment of $30 million and additional milestone payments.
Stockholder Equity and Market Performance
As of September 30, 2024, Xilio had a total stockholders' equity of $20.974 million. The company had a weighted average of 63,465,063 shares outstanding, reflecting its growth trajectory and capital raising efforts, including public offerings and private placements.
Research and Development Expenditures
Xilio's research and development expenses for the nine months ended September 30, 2024, amounted to $32.375 million, down from $40.400 million in the same period of the prior year. This decrease was attributed to strategic portfolio prioritization and a reduction in workforce.
Net Loss and Financial Health
The net loss for the nine months ended September 30, 2024, was $45.148 million, which showed an improvement compared to a net loss of $58.749 million for the same period in 2023. The company’s ability to reduce its losses reflects ongoing efforts to streamline operations and focus on key projects.
Cash Flow and Funding
As of September 30, 2024, Xilio had cash and cash equivalents of $61.3 million, which it expects will fund operations through mid-2025. The company has raised approximately $430.5 million in gross proceeds from various financing activities since its inception.
Table: Summary of Financial Performance (As of September 30, 2024)
| Metric | Value |
|---|---|
| Total Revenue | $4.6 million |
| Net Loss | $45.148 million |
| Research and Development Expenses | $32.375 million |
| Total Stockholders' Equity | $20.974 million |
| Cash and Cash Equivalents | $61.3 million |
| Weighted Average Shares Outstanding | 63,465,063 |
Future Outlook
Looking ahead, Xilio Therapeutics aims to leverage its recent partnerships and capital to advance its pipeline of innovative therapies while managing its cash flow effectively to sustain operations through its development milestones and into future phases of clinical trials.
A Who Owns Xilio Therapeutics, Inc. (XLO)
Ownership Structure
As of September 30, 2024, Xilio Therapeutics, Inc. has a total of 43,958,074 shares of common stock issued and outstanding. This represents a significant increase from the previous balance of 27,607,646 shares at December 31, 2023.
| Type of Stock | Shares Outstanding | Amount | Additional Paid-In Capital | Accumulated Deficit | Stockholders’ Equity |
|---|---|---|---|---|---|
| Common Stock | 43,958,074 | $4 | $391,630 | ($370,660) | $20,974 |
Major Shareholders
As of the latest reports, the following investors have significant ownership stakes in Xilio Therapeutics:
- Gilead Sciences, Inc. - Through a stock purchase agreement, Gilead has acquired 7,345,473 shares, which contributes to a significant portion of the ownership structure.
- Institutional Investors - Various institutional investors hold a substantial percentage of shares, reflecting confidence in the company's future potential.
- Insider Ownership - Company executives and board members maintain a portion of shares, aligning their interests with those of the shareholders.
Recent Transactions Affecting Ownership
In 2024, notable transactions include:
- Issuance of common stock and prefunded warrants in connection with the Gilead stock purchase agreement, net of issuance costs amounting to $7,605 thousand.
- Issuance of common stock in a private placement, netting $9,908 thousand.
- At-the-market offerings generated $6,825 thousand.
Financial Performance and Implications for Ownership
Xilio Therapeutics has reported a net loss of $45,148 thousand for the nine months ended September 30, 2024, compared to a net loss of $58,749 thousand for the same period in 2023. This improvement indicates a reduction in losses, which may positively influence investor confidence and ownership dynamics within the company.
| Financial Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Loss | ($45,148) | ($58,749) |
| Total Revenue | $4,620 | $0 |
| Research and Development Expenses | $32,375 | $40,400 |
| General and Administrative Expenses | $18,261 | $20,603 |
Future Ownership Outlook
With a current cash position of $61.3 million as of September 30, 2024, Xilio Therapeutics has sufficient liquidity to support ongoing operations through mid-2025. The company anticipates further fundraising efforts, which may impact ownership distribution and control dynamics among existing and new investors.
As per projections, Xilio Therapeutics is expected to continue its focus on advancing clinical trials for its product candidates, which could enhance its market valuation and attract additional investment, further shaping its ownership landscape.
Xilio Therapeutics, Inc. (XLO) Mission Statement
Company Overview
Xilio Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing innovative therapies for cancer treatment. The company is committed to leveraging its proprietary technology platform to create tumor-activated therapies that selectively target cancer cells while minimizing damage to normal tissues.
Mission Statement
The mission of Xilio Therapeutics is to transform the treatment of cancer by developing therapies that harness the body’s immune system to fight cancer more effectively. The company aims to deliver innovative, safe, and effective treatments to patients with significant unmet medical needs.
Core Values
- Innovation: Continuously advancing research and development to create breakthrough therapies.
- Integrity: Upholding ethical standards in all aspects of business operations.
- Collaboration: Partnering with leading organizations to enhance the development of therapies.
- Patient-Centricity: Prioritizing patient needs and outcomes in every decision.
Financial Overview
As of September 30, 2024, Xilio Therapeutics reported an accumulated deficit of $370.7 million. The company generated $4.6 million in license revenue during the nine months ended September 30, 2024, primarily from its agreement with Gilead Sciences, Inc.
Recent Financial Performance
| Financial Metric | September 30, 2024 (in thousands) | September 30, 2023 (in thousands) | Change |
|---|---|---|---|
| Net Loss | $45,148 | $58,749 | $13,601 |
| Total Revenue | $4,620 | $0 | $4,620 |
| Research and Development Expenses | $32,375 | $40,400 | ($8,025) |
| General and Administrative Expenses | $18,261 | $20,603 | ($2,342) |
Liquidity and Capital Resources
As of September 30, 2024, Xilio Therapeutics had cash and cash equivalents totaling $61.3 million. The company anticipates that its existing cash will be sufficient to fund its operating expenses through the end of the second quarter of 2025. However, with an accumulated deficit of $370.7 million, the company continues to seek additional capital through equity or debt financing and strategic collaborations to support its ongoing operations and development programs.
Future Outlook
Moving forward, Xilio Therapeutics is focused on advancing its pipeline of tumor-activated therapies and expects to continue incurring operating losses as it invests in research and development activities. The company remains dedicated to its mission of transforming cancer treatment through innovative therapeutic approaches.
Key Collaborations
In March 2024, Xilio entered into a license agreement with Gilead Sciences, granting Gilead an exclusive global license to develop and commercialize XTX301, a tumor-activated IL-12 product candidate. This partnership is crucial for accelerating the development of Xilio's innovative therapies.
Research and Development Focus
Xilio Therapeutics is currently focusing on several key product candidates:
- XTX101 (vilastobart)
- XTX301
- XTX202
| Product Candidate | Research and Development Expenses (9 months ended September 30, 2024) | Research and Development Expenses (9 months ended September 30, 2023) |
|---|---|---|
| XTX101 | $7,160 | $509 |
| XTX301 | $4,176 | $5,088 |
| XTX202 | $3,364 | $7,242 |
Conclusion
Xilio Therapeutics is committed to its mission of delivering innovative cancer therapies. With a focus on research, collaboration, and patient needs, the company aims to make a significant impact in oncology.
How Xilio Therapeutics, Inc. (XLO) Works
Company Overview
Xilio Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing tumor-activated immuno-oncology therapies. The company aims to improve cancer treatment outcomes while minimizing systemic side effects associated with current therapies. As of December 31, 2023, Xilio was incorporated in Delaware and headquartered in Waltham, Massachusetts.
Financial Performance
For the nine months ended September 30, 2024, Xilio reported a net loss of $45.1 million, a decrease from a net loss of $58.7 million for the same period in 2023. The company's total revenue for the same period was $4.6 million, all derived from license revenue under a recent agreement with Gilead Sciences, Inc.
| Financial Metric | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Net Loss | $(45.1) million | $(58.7) million |
| Total Revenue | $4.6 million | $0 million |
| Research and Development Expenses | $32.4 million | $40.4 million |
| General and Administrative Expenses | $18.3 million | $20.6 million |
Cash Flow Analysis
During the nine months ended September 30, 2024, Xilio's cash flows from operating activities were $(4.2) million, reflecting the company's ongoing investment in research and development. The company experienced a significant increase in cash from financing activities, totaling $21.0 million, primarily from stock issuances.
| Cash Flow Category | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Net Cash from Operating Activities | $(4.2) million | $(55.2) million |
| Net Cash from Investing Activities | $(0.03) million | $(0.5) million |
| Net Cash from Financing Activities | $21.0 million | $(4.9) million |
| Net Increase in Cash | $16.7 million | $(60.6) million |
Research and Development Focus
Xilio's R&D expenses were primarily allocated to its product candidates, with key investments in the following:
| Program | 2024 R&D Expenses | 2023 R&D Expenses |
|---|---|---|
| Vilastobart (XTX101) | $7.2 million | $0.5 million |
| XTX301 | $4.2 million | $5.1 million |
| XTX202 | $3.4 million | $7.2 million |
| Other Programs | $5.7 million | $11.7 million |
Balance Sheet Position
As of September 30, 2024, Xilio reported total assets of $74.7 million, with cash and cash equivalents amounting to $61.3 million. The company's liabilities totaled $53.7 million, reflecting a significant increase from $24.1 million as of December 31, 2023.
| Balance Sheet Item | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Assets | $74.7 million | $60.9 million |
| Cash and Cash Equivalents | $61.3 million | $44.7 million |
| Total Liabilities | $53.7 million | $24.1 million | Stockholders' Equity | $21.0 million | $36.8 million |
Future Outlook
Xilio anticipates that its current cash resources will fund its operations through the second quarter of 2025. The company continues to focus on advancing its clinical programs and may require additional capital to support its ongoing operations and development efforts.
How Xilio Therapeutics, Inc. (XLO) Makes Money
License Revenue
License Revenue
Xilio Therapeutics, Inc. recognized $4.6 million in license revenue for the nine months ended September 30, 2024, derived from a licensing agreement with Gilead entered into in March 2024. In the three months ended September 30, 2024, the company recognized $2.3 million in license revenue.
Operating Expenses
The operating expenses for Xilio Therapeutics were as follows for the nine months ended September 30, 2024:
| Operating Expense Category | Amount (in thousands) |
|---|---|
| Research and Development | $32,375 |
| General and Administrative | $18,261 |
| Restructuring | $937 |
| Total Operating Expenses | $51,573 |
In comparison, for the nine months ended September 30, 2023, total operating expenses were $61,003 million, indicating a decrease of $9.430 million year-over-year.
Net Loss
Xilio reported a net loss of $45.1 million for the nine months ended September 30, 2024, compared to a net loss of $58.7 million for the same period in 2023. This represents an improvement of $13.6 million in net loss.
Cash Flow Overview
As of September 30, 2024, Xilio had cash and cash equivalents of $61.3 million. The cash flows from operating activities for the nine months ended September 30, 2024 were negative at ($4.2 million), compared to ($55.2 million) for the same period in 2023.
Financing Activities
Net cash provided by financing activities for the nine months ended September 30, 2024 was $20.994 million, primarily from the issuance of common stock and prefunded warrants.
Research and Development Expenses
The breakdown of research and development expenses for the nine months ended September 30, 2024 is as follows:
| Research and Development Program | Amount (in thousands) |
|---|---|
| vilastobart (XTX101) | $7,160 |
| XTX301 | $4,176 |
| XTX202 | $3,364 |
| Other early programs | $5,695 |
| Personnel-related | $11,980 |
| Total R&D Expenses | $32,375 |
In comparison, total research and development expenses for the nine months ended September 30, 2023 were $40.4 million.
General and Administrative Expenses
General and administrative expenses for the nine months ended September 30, 2024 were $18.261 million, down from $20.603 million in the same period of 2023.
Deferred Revenue
As of September 30, 2024, Xilio had recorded deferred revenue of $34.5 million, primarily related to the license agreement with Gilead.
Liquidity and Capital Resources
Xilio has raised an aggregate of $430.5 million since inception through various financing activities, including private placements and its IPO. As of September 30, 2024, the company’s total liabilities amounted to $53.7 million.
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Resources:
- Xilio Therapeutics, Inc. (XLO) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Xilio Therapeutics, Inc. (XLO)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Xilio Therapeutics, Inc. (XLO)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.