Xilio Therapeutics (XLO) AI Stock Analysis

• Market Cap: $36.89M
• Dividend Yield: N/A
• Average Volume (3M): 391.04K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.32
• Revenue Growth: 588.40%
• EPS Growth: 61.76%
• Country: US
• Employees: 64
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.11
• Shares Outstanding: 67,540,930
• 10 Day Avg. Volume: 573,107
• 30 Day Avg. Volume: 391,044
• PEG Ratio: 0.01
• Price to Book (P/B): 2.90
• Price to Sales (P/S): 8.06
• P/FCF Ratio: -2.78
• Enterprise Value/Market Cap: -1.88
• Enterprise Value/Revenue: -2.18
• Enterprise Value/Gross Profit: -4.29
• Enterprise Value/Ebitda: 1.22
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.3
• Revenue Forecast (FY): $37.80M

• Rating: 49 Neutral
• Price Target: $0.55 ▼(-6.78% Downside)

The score is primarily held back by weak financial fundamentals (large losses, ongoing cash burn, and negative equity) despite strong recent revenue growth. Technicals are mixed with a weak longer-term trend but neutral-to-stable near-term momentum. Corporate events improve the outlook by extending cash runway into 2027, while valuation is constrained by a negative P/E and no dividend data.

Positive Factors

Revenue Growth

Sustained double-digit organic revenue growth (TTM +112% to ~$31.8M) indicates improving partner traction and commercial validation of programs. Over 2–6 months this supports funding flexibility and commercial credibility as clinical milestones translate into collaboration revenue.

Extended Cash Runway

Receipt of $35.8M from warrant exercises and preliminary cash of ~$137.5M materially extends runway into Q2 2027. This durable funding window reduces near-term financing pressure, allowing execution of IND filings and early clinical work without immediate dilution.

Pipeline Progress & Partnerships

Advancing multiple masked cytokine and T-cell engager programs and an AbbVie milestone validates the masking platform and de-risks tech transfer. Candidate nominations and partnership milestones create durable optionality for licensing, co-development, and future milestone-driven revenue.

Negative Factors

Ongoing Cash Burn

Free cash flow remains negative (~-$17.6M TTM), meaning operations still consume cash. Even with extended runway, continued negative FCF requires either milestone-based partner inflows or further financings, raising dilution risk and limiting long-term self-sufficiency absent faster clinical progress.

Negative Stockholders' Equity

Equity erosion to negative (~-$8.1M) weakens the balance sheet and financial flexibility. Negative equity can constrain borrowing, complicate partnership negotiations, and magnify the impact of further losses or setbacks over the medium term if not corrected by cash inflows or improved profitability.

Large Operating Losses

Significant operating and net losses (EBIT ~- $43.8M; net ~- $58.5M) show the cost base far exceeds current revenue. Persistent heavy R&D and SG&A spending increases execution and funding risk until clinical programs deliver material value or partners assume development costs.

Xilio Therapeutics Business Overview & Revenue Model

Company Description

Xilio Therapeutics, Inc., a clinical-stage biotechnology company, develops immunotherapies to improve the immune system of cancer patients. Its checkpoint inhibitor program includes XTX101, a clinical-stage, tumor-selective anti-CTLA-4 mAb that is in Phase 1/2 clinical trials in patients with solid tumors. The company also develops cytokine programs, which comprises XTX202, a modified form of IL-2; XTX301, an IL-12 product candidate; and XTX401, an IL-15 product candidate that are masked with a protein domain to prevent binding activity until cleaved off by tumor microenvironment (TME)-associated proteases. Xilio Therapeutics, Inc. was founded in 2016 and is headquartered in Waltham, Massachusetts.

How the Company Makes Money

Xilio Therapeutics makes money primarily through the development and potential commercialization of its proprietary cancer therapies. The company invests in research and development to create innovative tumor-selective treatments, which it aims to bring to market either independently or through strategic partnerships with larger pharmaceutical companies. Revenue streams may include upfront payments, milestone payments, and royalties from licensing agreements, as well as eventual product sales pending successful clinical trials and regulatory approvals. Additionally, partnerships with other biotech or pharmaceutical firms can provide funding and resources to advance the development of its therapeutic candidates.

Xilio Therapeutics Financial Statement Overview

Summary

Revenue growth is strong (TTM up ~112% to ~$31.8M), but profitability is still very weak with large operating losses (EBIT about -$43.8M) and net loss (about -$58.5M). Cash burn has improved (TTM FCF about -$17.6M), but remains negative, and stockholders’ equity turned negative (about -$8.1M), increasing financial risk despite modest debt.

Income Statement

TTM (Trailing-Twelve-Months) revenue rose sharply to ~$31.8M (up ~112%), showing improving commercial/partner traction. However, profitability remains very weak: gross margin is ~40% while operating losses are large (EBIT about -$43.8M) and net income is about -$58.5M, indicating the cost structure is still far ahead of the current revenue base. Overall, growth is a positive signal, but losses and negative margins dominate the income profile.

Balance Sheet

Debt is modest in absolute terms in TTM (about $7.3M) and assets are sizable (~$133.7M), which helps reduce near-term balance sheet stress. The key concern is that stockholders’ equity turned negative in TTM (about -$8.1M) after being positive in 2024, which weakens financial flexibility and raises risk if losses continue. Leverage looks optically distorted due to negative equity, but the underlying issue is the erosion of the equity base.

Cash Flow

Cash burn remains material but has improved versus prior years: TTM operating cash flow is about -$17.2M and free cash flow is about -$17.6M, much better than 2021–2023 levels. Free cash flow was also less negative than the prior annual period (positive growth rate), suggesting better expense control and/or timing benefits. That said, cash flow is still negative overall, so the business likely remains dependent on funding until it approaches breakeven.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	31.80M	6.34M	0.00	0.00	0.00	0.00
Gross Profit	16.13M	6.34M	0.00	0.00	-1.50M	-1.06M
EBITDA	-56.54M	-58.00M	-77.23M	-87.30M	-73.70M	-53.55M
Net Income	-58.49M	-58.24M	-76.40M	-88.22M	-75.80M	-55.22M
Balance Sheet
Total Assets	133.69M	71.08M	60.93M	139.16M	221.60M	36.32M
Cash, Cash Equivalents and Short-Term Investments	103.76M	55.29M	44.70M	120.39M	198.05M	19.24M
Total Debt	7.26M	8.14M	11.46M	19.94M	20.74M	21.89M
Total Liabilities	141.79M	53.48M	24.10M	33.52M	36.17M	41.60M
Stockholders Equity	-8.10M	17.60M	36.83M	105.65M	185.43M	-5.29M
Cash Flow
Free Cash Flow	-17.58M	-18.41M	-69.11M	-77.59M	-81.85M	-38.28M
Operating Cash Flow	-17.15M	-18.38M	-68.62M	-75.72M	-80.75M	-36.09M
Investing Cash Flow	-429.00K	-36.00K	-486.00K	-1.87M	-1.10M	-2.19M
Financing Cash Flow	60.11M	29.20M	-6.55M	-69.00K	260.67M	10.03M

Xilio Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XLO, the sentiment is Negative. The current price of 0.59 is below the 20-day moving average (MA) of 0.63, below the 50-day MA of 0.67, and below the 200-day MA of 0.73, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 24.54 is Positive, neither overbought nor oversold. The STOCH value of 27.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for XLO.

Xilio Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FBRX	56 Neutral	$401.36M	-6.48	-110.72%	―	―	77.08%
CNTB	53 Neutral	$130.26M	-8.13	―	―	―	―
XFOR	52 Neutral	$336.63M	-0.37	-156.87%	―	2925.73%	-294.29%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
OKYO	51 Neutral	$73.72M	-15.15	―	―	―	―
LTRN	50 Neutral	$32.99M	-1.46	-104.58%	―	―	1.18%
XLO	49 Neutral	$36.89M	―	-908.28%	―	588.40%	61.76%

Xilio Therapeutics Corporate Events

Xilio Therapeutics Announces Leadership Transition and Pipeline Updates

On January 8, 2026, Xilio Therapeutics reported a series of corporate and pipeline updates, including the receipt of $35.8 million in gross proceeds in the fourth quarter of 2025 from the exercise of Series B warrants, which extended its estimated cash runway into the second quarter of 2027 and brought preliminary year-end 2025 cash and cash equivalents to about $137.5 million. The company also achieved a development milestone in its masked antibody-based immunotherapy program under its AbbVie collaboration, nominated a development candidate for a wholly owned masked T cell engager targeting CLDN18.2—relevant for gastric, pancreatic, esophageal and lung cancers—and laid out a roadmap of key clinical and regulatory milestones through 2027, including an IND filing and initial Phase 1 data for XTX501, candidate nomination for a STEAP1 program, and advancing at least two masked T cell engager programs into IND-enabling studies. Governance changes were highlighted with the appointment of longtime director and experienced biotech finance executive Sara M. Bonstein as chair of the board following the January 6, 2026 retirement of former chair Paul Clancy, a transition presented as orderly and non-contentious that is expected to reinforce financial and strategic oversight as Xilio seeks to translate its masking platform into value-generating clinical assets and partnership-driven growth.

The most recent analyst rating on (XLO) stock is a Hold with a $0.62 price target. To see the full list of analyst forecasts on Xilio Therapeutics stock, see the XLO Stock Forecast page.

Xilio Therapeutics Extends Cash Runway Into 2027

In June 2025, Xilio Therapeutics issued 66,676,000 Series B warrants and 66,676,000 Series C warrants as part of a follow-on public offering. By December 31, 2025, 48,207,815 Series B warrants had been exercised, resulting in the issuance of 8,202,815 shares of common stock and 40,005,000 prefunded warrants, and generating $35.8 million in gross proceeds before transaction costs. As a result of the warrant activity and prior prefunded warrant exercises, Xilio had 67,540,930 shares of common stock outstanding as of January 2, 2026, while 48,207,815 Series C warrants remained outstanding and 18,468,185 Series C warrants expired in line with the lapse of unexercised Series B warrants. The company indicated that, based on its current operating plans and the net proceeds from the Series B warrant exercises, its cash and cash equivalents are expected to fund operating expenses and capital expenditures into the second quarter of 2027, strengthening its near- to medium-term financial runway and providing additional visibility for investors and other stakeholders.

The most recent analyst rating on (XLO) stock is a Hold with a $0.62 price target. To see the full list of analyst forecasts on Xilio Therapeutics stock, see the XLO Stock Forecast page.

Xilio Therapeutics Approves 2025 Stock Incentive Plan

On November 21, 2025, Xilio Therapeutics held a special meeting where stockholders approved the 2025 Stock Incentive Plan and a one-time repricing of certain employee stock options. The repricing adjusted the exercise price of stock options for key executives, impacting the company’s operational and financial strategies by potentially enhancing employee retention and motivation.

The most recent analyst rating on (XLO) stock is a Buy with a $2.00 price target. To see the full list of analyst forecasts on Xilio Therapeutics stock, see the XLO Stock Forecast page.