TD Cowen analyst Marc Frahm has maintained their bullish stance on XLO stock, giving a Buy rating on August 7.
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Marc Frahm has given his Buy rating due to a combination of factors that highlight Xilio Therapeutics’ promising future prospects. The company has reported a significant cash reserve of $121.6 million, which includes proceeds from a recent follow-on offering. This financial position supports Xilio’s ongoing and future development initiatives, particularly in advancing their pipeline of masked-TCE candidates targeting PSMA, CLDN18.2, and STEAP1, with expected nominations in the coming years.
Furthermore, Xilio’s recent data from their Phase II trial of vilastobart combined with atezolizumab in advanced colorectal cancer (CRC) patients is encouraging. The trial demonstrated a consistent overall response rate and promising durability with no new safety concerns, leading to the expansion of the trial to include a higher dosage cohort. These developments, along with the strategic focus on bispecific molecules and the advancement of XTX501, position Xilio well for future growth and potential partnerships, underpinning Frahm’s positive outlook on the stock.
In another report released on August 7, Leerink Partners also initiated coverage with a Buy rating on the stock with a $2.00 price target.