Xilio Therapeutics initiated with an Outperform at Leerink

Leerink initiated coverage of Xilio Therapeutics (XLO) with an Outperform rating and $72 price target The company’s lead program vilastobart, a conditionally masked CTLA-4 antagonist, has shown proof-of-concept efficacy in relapsed / refractory microsatellite stable non-liver metastatic colorectal cancer, a large indication, the analyst tells investors in a research note. The firm believes Xilio is among the industry leaders of developing protease-masked biologics.