Xilio Therapeutics, Inc. Earnings Per Share Disclosure
11. Net Loss Per Share
The Company calculates basic net loss per share by dividing net loss by the weighted average number of shares of common stock outstanding. The weighted average number of shares of common stock used in the basic and diluted net loss per share calculation includes prefunded warrants to purchase common stock that were outstanding during the years ended December 31, 2025 and 2024, as the prefunded warrants are exercisable at any time for nominal cash consideration. As of December 31, 2025, 524,033 prefunded warrants have been exercised and 8,502,224 prefunded warrants are outstanding.
The following table sets forth the outstanding shares of common stock equivalents, presented based on amounts outstanding at each period end, that were excluded from the calculation of diluted net loss per share for the periods indicated because including them would have been anti-dilutive:
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Year Ended |
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December 31, |
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2025 |
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2024 |
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Unvested restricted stock units |
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23,866 |
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31,818 |
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Outstanding stock options |
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2,785,102 |
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595,074 |
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Common stock warrants |
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8,206,109 |
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188 |
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Unvested employee stock purchase plan shares |
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4,983 |
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3,338 |
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Total common stock equivalents |
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11,020,060 |
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630,418 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 23, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
| 2023 | Apr 1, 2024 | |
| 2022 | Mar 2, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.