Xilio Therapeutics Inc ( (XLO) ) has released its Q2 earnings. Here is a breakdown of the information Xilio Therapeutics Inc presented to its investors.
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Xilio Therapeutics Inc. is a clinical-stage biotechnology company focused on developing tumor-activated immuno-oncology therapies aimed at improving cancer treatment outcomes.
In its latest earnings report, Xilio Therapeutics announced significant pipeline progress and business updates, including promising Phase 2 data for its investigational therapy, vilastobart, and a strong cash position that supports its strategic goals.
Key highlights from the report include a 26% objective response rate in a Phase 2 trial for vilastobart, demonstrating its potential as a combination therapy for metastatic colorectal cancer. The company also reported a substantial increase in collaboration and license revenue, driven by partnerships with AbbVie and Gilead. Additionally, Xilio completed a successful public offering, bolstering its cash reserves to $121.6 million.
Xilio’s financial results showed increased R&D expenses due to expanded clinical activities, resulting in a net loss of $15.8 million for the quarter. Despite this, the company remains optimistic about its cash runway extending through the third quarter of 2026.
Looking ahead, Xilio Therapeutics is poised to advance its pipeline with plans to nominate new development candidates and continue collaborations, positioning itself for potential growth and innovation in the immuno-oncology space.