XLO · Xilio Therapeutics, Inc.

Xilio Therapeutics announced Q1 2026 results showing improved financials with collaboration and license revenue surging to $12.6 million from $2.9 million year-over-year, primarily from progress under AbbVie and Gilead agreements. This offset higher R&D spend of $19.8 million, up from $8.3 million, driven by IND-enabling manufacturing for XTX501, masked T cell engager programs, efarindodekin alfa clinical activities, and headcount growth. G&A expenses declined to $6.9 million from $8.5 million due to lower professional fees and personnel costs, resulting in a narrower net loss of $9.5 million versus $13.3 million last year. Cash position strengthened to $150.3 million from $137.5 million at December 31, 2025, bolstered by $37.3 million net proceeds from a February 2026 follow-on offering. A $6.0 million Q2 development milestone from AbbVie further extends runway into early 2028, excluding additional potential milestones up to $31.0 million through H1 2027 or warrant exercises. Pipeline momentum includes XTX501 bispecific PD-1/masked IL-2 advancing to IND mid-2026 and Phase 1 H2 2026, targeting NSCLC data H2 2027. XTX601 masked CLDN18.2 T cell engager showed tumor-selective activation and tolerability in AACR preclinical data, with IND-enabling started Q1 2026. PSMA+STEAP1 multi-specific program to begin IND-enabling Q2 2026, both INDs planned 2027. Efarindodekin alfa Phase 2 ongoing, with Gilead option data H1 2027. Board addition of Cheryl R. Blanchard enhances leadership. These updates signal pipeline productivity and financial stability for investors.