Xilio Therapeutics, Inc.

Listed Company

XLOCIK 0001840233NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$43.77M

Net Income

—

Total Assets

$154.69M

Equity

$35.27M

Shares Out

5.78M

Op. Cash Flow

$-4.99M

Business

Xilio Therapeutics, Inc. is a clinical-stage biotechnology company discovering and developing tumor-activated, or masked, immuno-oncology therapies designed to localize anti-tumor activity and reduce systemic toxicity. Its main products include masked antibodies, bispecifics, cytokines and immune cell engagers, with clinical-stage candidates vilastobart (anti-CTLA-4) and XTX301 (IL-12) and development-stage programs such as XTX501 and masked T cell engagers. Key business segments comprise discovery and preclinical research, clinical development and proprietary platform engineering, and collaboration and licensing arrangements with pharmaceutical partners. Xilio conducts global clinical trials and relies on partnerships, licensing agreements and third-party contract manufacturers for development and distribution.

Summary from filing dated 2025-03-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total Revenue	44	6	—	—	—
Research and development	56	41	52	59	51
General and administrative	30	25	27	30	24
Restructuring	—	937,000	—	—	—
Total operating expenses	86	67	79	89	75
Loss from operations	−42	−61	−79	−89	−75
Change in fair value of common stock warrant liabilities	6	—	—	—	—
Other income, net	1	2	3	927,000	−756,000
Total other income, net	7	2	3	927,000	−756,000
Net loss and comprehensive loss	−35	−58	−76	−88	−76
Net loss per share, basic (in dollars per share)	−4.19	−15.24	−2.78	−3.22	−13.52
Net loss per share, diluted (in dollars per share)	−4.19	−15.24	−2.78	−3.22	−13.52
Weighted average common shares outstanding, basic (in shares)	8	4	27	27	6
Weighted average common shares outstanding, diluted (in shares)	8	4	27	27	6

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	138	55	45	120	198
Collaboration and license agreement receivable	5	—	—	—	—
Prepaid expenses and other current assets	2	5	3	4	4
Total current assets	145	60	48	124	203
Restricted cash	2	2	2	2	2
Property and equipment, net	4	4	6	7	8
Operating lease right-of-use asset	4	5	5	6	6
Total assets	155	71	61	139	218
Accounts payable	3	3	1	3	3
Accrued expenses	12	10	10	10	9
Deferred revenue, current portion	40	14	—	—	—
Operating lease liability, current portion	1	1	1	918,000	801,000
Total current liabilities	56	27	16	21	13
Deferred revenue, net of current portion	21	19	—	—	—
Operating lease liability, net of current portion	6	7	8	9	10
Common stock warrant liabilities	30	—	—	—	—
Liabilities to issue common stock	7	—	—	—	—
Total liabilities	119	53	24	34	33
Commitments and contingencies (Note 8)	—	—	—	—	—
Preferred stock, $0.0001 par value; 5,000,000 shares authorized, no shares issued or outstanding	—	—	—	—	—
Additional paid-in capital	454	401	362	355	346
Accumulated deficit	−419	−384	−326	−249	−161
Total stockholders' equity	35	18	37	106	185
Total liabilities and stockholders' equity	155	71	61	139	218

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−35	−58	−76	−88	−76
Depreciation and amortization	2	2	2	2	1
Stock-based compensation expense	7	6	7	8	5
Issuance costs allocated to common stock warrant liabilities	2	—	—	—	—
Loss on disposal of property and equipment	—	3,000	3,000	1,000	19,000
Collaboration and license agreement receivable	−5	—	—	—	—
Prepaid and other assets	3	−981,000	688,000	344,000	−3
Accounts payable	152,000	2	−2	485,000	−3
Accrued expenses and other liabilities	−979,000	−2	175,000	2	−6
Deferred revenue	28	33	—	—	—
Net cash used in operating activities	−5	−18	−69	−76	−81
Purchases of property and equipment	−518,000	−36,000	−486,000	−2	−1
Net cash used in investing activities	−518,000	−36,000	−486,000	−2	−1
Proceeds from issuance of prefunded warrants and common stock warrants in connection with a follow-on offering, net of issuance costs	47	—	—	—	—
Proceeds from the issuance of common stock, prefunded warrants and liabilities to issue common stock in connection with the exercise of Series B warrants, net of issuance costs	36	—	—	—	—
Proceeds from issuance of common stock under employee stock purchase plan	76,000	68,000	194,000	—	—
Proceeds from exercise of stock options	10,000	5,000	8,000	16,000	283,000
Repayments of debt principal	—	−3	−7	—	−1
Payments of finance lease	—	−49,000	−85,000	−85,000	−85,000
Net cash provided by financing activities	88	29	−7	−69,000	261
Increase in cash, cash equivalents and restricted cash	82	11	−76	−78	179
Cash paid for interest	—	62,000	573,000	555,000	492,000
Transfer of finance lease asset to property and equipment	—	85,000	—	—	—
Capital expenditures included in accounts payable or accrued expenses	443,000	—	—	19,000	539,000
Issuance costs included in accounts payable or accrued expenses	2	—	—	—	—

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