Xilio Therapeutics Revenue Falls to $9.984 Million in Third Quarter
Key Facts
Xilio Therapeutics reported results on November 10, 2026, for the third quarter ended September 30, posting collaboration and license revenue of $9.984 million. That revenue fell from $19.066 million in the same quarter of 2025, according to the company's filing with the U.S. Securities and Exchange Commission. The company attributed the decline to lower revenue recognized under its agreements with AbbVie and Gilead. Meanwhile, net loss narrowed to $5.948 million from $16.287 million a year earlier. The results therefore combined lower revenue with an improved net loss year over year.
Research and development expenses were $14.805 million in the third quarter, compared with $14.321 million in the same period a year earlier. The company said the increase was primarily related to preclinical activities for its proprietary T-cell engager programs, the start of the XTX501 trial, and higher personnel costs. General and administrative expenses rose to $6.928 million from $6.674 million a year earlier. The company attributed the increase in this item primarily to higher stock-based compensation expense. These items reflect higher research, development and administrative spending during the period, alongside lower collaboration and license revenue.
The company said the improvement in quarterly net loss included a $4.8 million gain from a decline in the fair value of equity warrant liabilities. Its disclosures attributed the change primarily to a lower share price. For the first nine months of 2026, collaboration and license revenue was $41.324 million, compared with $30.080 million in the same period of 2025. Net loss for the period narrowed to $21.850 million from $45.396 million. These figures for the nine-month period show a different trend from the third quarter, with revenue higher and loss lower than in the first nine months of the previous year.
Cash and cash equivalents totaled $122.2 million on September 30, 2026, compared with $137.5 million on December 31, 2025. Net cash used in operating activities during the first nine months of 2026 was about $54.9 million, compared with $3.0 million in the same period of 2025. The company said it expects its available cash to fund operating expenses and capital expenditures through the first quarter of 2028, based on its current operating plans. In the results filing, XLO's closing share price on November 9, 2026, before the results announcement, was $9. That was the closing price in the session before the company announced its results the following day.
On clinical development, Xilio said the first patient had been dosed in the first part of the Phase 1/2 trial of XTX501. The company aims to report preliminary Phase 1 data in patients with metastatic non-small cell lung cancer in the fourth quarter of 2027. It also plans to submit an investigational new drug application for each of XTX602 and XTX701 in the fourth quarter of 2027. The company said the studies needed to submit both applications are underway for each program. These dates set out the timeline the company has identified for the next steps in its clinical programs.
For its efarindodekin alfa program, the company expects to deliver an option data package to Gilead during the first half of 2027. Xilio continues to evaluate the drug as a monotherapy in a Phase 2 trial for advanced solid tumors. The package timing is tied to the agreement with Gilead, while the company continues to evaluate the drug in the cited trial. This work is proceeding alongside the announced fourth-quarter 2027 plans for XTX501, XTX602 and XTX701. The company has thus set its next timelines for clinical data and regulatory applications during 2027.