Xilio Therapeutics, Inc. develops masked immuno-oncology therapies for people living with cancer. Company news centers on its proprietary masking technology, which is designed to localize anti-tumor activity within the tumor microenvironment, and on pipeline updates for masked biologics and multi-specific I-O molecules.
Recurring developments include preclinical data for programs such as XTX601, a masked T cell engager targeting CLDN18.2, updates on XTX501, a bispecific PD-1 / masked IL-2 program, and disclosures involving masked T cell engager programs targeting PSMA and STEAP1. News also covers financial results, scientific conference presentations, inducement equity grants, board composition, and capital-structure actions.
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Xilio Therapeutics (Nasdaq: XLO) announced the grant of a non-qualified stock option for 55,000 shares to Kevin Brennan, the newly appointed Senior Vice President of Finance and Accounting, effective April 1, 2023. This stock option has an exercise price of $3.17 per share, matching the closing price on March 31, 2023, and will vest in increments over four years. This action is in accordance with Nasdaq Listing Rule 5635(c)(4) and aims to incentivize Mr. Brennan's role in the company. Xilio is focused on developing tumor-activated immuno-oncology therapies to improve treatment outcomes for cancer patients.
Xilio Therapeutics, Inc. (Nasdaq: XLO) reported progress in its clinical pipeline and financial results for 2022. The company ended 2022 with $120.4 million in cash, expected to fund operations into Q2 2024. XTX202, a tumor-activated IL-2, showed promising early results in a Phase 1 trial, with plans to initiate a Phase 2 trial in April 2023. XTX301 and XTX101 are also in development, with preliminary data anticipated in 2023. However, net losses increased to $88.2 million for the year, up from $75.8 million in 2021, driven by R&D expenses, which grew to $59.2 million.