Quarterly ResultMay 12, 2026, 07:37 AM
Xilio Therapeutics Q1 Net Loss $9.5M; Extends Cash Runway into Early 2028
AI Summary
Xilio Therapeutics reported its first quarter 2026 financial results, with a net loss of $9.5 million, an improvement from the $13.3 million loss in the prior year's quarter. The company's cash and cash equivalents stood at $150.3 million as of March 31, 2026, and its cash runway is now projected into early 2028, bolstered by a recent $6.0 million milestone from its AbbVie collaboration. Xilio also provided positive pipeline updates, including plans for an IND submission for XTX501 in mid-2026 and the presentation of new preclinical data for XTX601.
Key Highlights
- Cash and cash equivalents were $150.3 million as of March 31, 2026, up from $137.5 million on December 31, 2025.
- Collaboration and license revenue increased to $12.6 million for Q1 2026 from $2.9 million in Q1 2025.
- Net loss for Q1 2026 was $9.5 million, an improvement from $13.3 million in Q1 2025.
- Achieved a $6.0 million development milestone under the AbbVie collaboration in Q2 2026.
- Cash runway extended into early 2028, excluding potential additional milestone payments.
- XTX501 IND submission planned for mid-2026, with Phase 1 initiation in the second half of 2026.
- Presented new preclinical data for XTX601 at AACR, initiating IND-enabling activities in Q1 2026.
- Anticipates initiating IND-enabling activities for PSMA+STEAP1 program in Q2 2026.