Xilio Therapeutics (XLO) Q3 2026 earnings summary

Executive summary

• First patient dosed in the XTX501 Phase 1/2 trial for metastatic NSCLC and selected advanced solid tumors; initial data planned for Q4 2027.

• XTX602 and XTX701 IND submissions are planned for Q4 2027; efarindodekin alfa option data package for Gilead is expected in H1 2027.

• Cash and cash equivalents of $122.2M were expected to fund operations into Q1 2028, excluding potential warrant proceeds and contingent collaboration payments.

Financial highlights

• Q3 revenue was $10.0M vs. $19.1M; nine-month revenue was $41.324M vs. $30.080M, with the nine-month increase driven by higher AbbVie revenue, partly offset by lower Gilead revenue. Q3 revenue reflected lower recognition under AbbVie and Gilead agreements.

• Q3 operating expenses were $21.7M vs. $21.0M; nine-month expenses were $70.676M vs. $60.226M, reflecting increased R&D spending.

• Q3 net loss was $5.9M vs. $16.3M; nine-month net loss was $21.850M vs. $45.396M, with 2026 results benefiting from warrant fair-value gains.

• Nine-month operating cash use was $54.9M; financing provided $40.2M, and cash, cash equivalents and restricted cash ended at $124.0M.

Outlook and guidance

• Existing cash and cash equivalents were expected to fund operating expenses and capital expenditures into Q1 2028; the estimate excludes up to $36.2M gross from Series C warrant exercise.

• Up to $31.0M in near-term AbbVie milestones and option extension fees could be achieved through H1 2027; payments are contingent and excluded from the runway estimate.

• Initial XTX501 Phase 1 data and XTX602 and XTX701 IND submissions are planned for Q4 2027; the efarindodekin alfa option data package for Gilead is expected in H1 2027.