Xilio Therapeutics, Inc.

Xilio Therapeutics, Inc. announced that it granted non-qualified stock options to purchase 107,060 shares of its common stock to three new employees, effective July 1, 2026. The options have an exercise price of $9.22 per share, matching the closing price on the grant date. These options will vest 25% on the first anniversary of employment, with the remaining 75% vesting in 36 equal monthly installments thereafter, subject to continued service.

Xilio Therapeutics, Inc. announced the appointment of Ben Harshbarger as its new chief legal officer. Mr. Harshbarger brings over 20 years of executive leadership and legal expertise within the biopharmaceutical industry, having previously served as chief legal officer at Astria Therapeutics, Inc. and held senior legal roles at other companies. CEO René Russo stated that Harshbarger's experience will be crucial as Xilio advances its pipeline of next-generation, multi-specific immuno-oncology therapies.

Xilio Therapeutics, Inc. stockholders approved the Amended and Restated 2021 Stock Incentive Plan at the 2026 Annual Meeting, which includes adding shares underlying prefunded warrants to the annual evergreen increase calculation. Additionally, Daniel Curran, M.D., was re-appointed as a Class III director to achieve a more equal balance among the board's three classes. Stockholders also elected four Class II directors and ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026.

Xilio Therapeutics reported a narrowed net loss of $9.5 million for the first quarter of 2026, a significant improvement from the $13.3 million loss in the prior year. This was driven by a substantial increase in collaboration and license revenue, which reached $12.6 million. The company maintains a strong liquidity position with $150.3 million in cash and cash equivalents, projected to fund operations for at least the next twelve months, and anticipates further proceeds from warrant exercises.

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.

Xilio Therapeutics announced significant pipeline progress and business updates, alongside its first quarter 2026 financial results. The company is on track for XTX501's IND submission in mid-2026 and Phase 1 initiation in the second half of 2026, and presented new preclinical data for XTX601. Xilio also achieved a $6.0 million development milestone under its AbbVie collaboration, extending its cash runway into early 2028. For Q1 2026, the company reported $12.6 million in collaboration and license revenue and a net loss of $9.5 million.

Xilio Therapeutics, Inc. announced that it granted non-qualified stock options to purchase 1,982 shares of its common stock to one new employee. The grant was made effective May 1, 2026, under the company's 2022 Inducement Stock Incentive Plan. The options have an exercise price of $8.32 per share, equal to the closing price on the grant date, and will vest over a four-year period. This action was taken as an inducement material to the individual's employment, in accordance with Nasdaq Listing Rule 5635(c)(4).

Xilio Therapeutics, Inc. filed its definitive proxy statement for the 2026 Annual Meeting of Stockholders, scheduled virtually for June 10, 2026. Stockholders will vote on the election of four Class II directors, the ratification of Ernst & Young LLP as the independent auditor for fiscal year 2026, and the approval of the Amended and Restated 2021 Stock Incentive Plan. The board also intends to rebalance its class structure following the election.

Xilio Therapeutics announced new positive preclinical data for XTX601, a masked T cell engager targeting CLDN18.2, at the AACR Annual Meeting. The data highlighted XTX601's protease-dependent, tumor-selective activation and potent anti-tumor activity across multiple preclinical models. The drug was well tolerated in non-human primates, showing a favorable therapeutic index and supporting its potential to overcome systemic toxicities. Xilio plans to advance XTX601 into IND-enabling studies and submit an IND application in 2027.

Xilio Therapeutics, Inc. announced the election of Cheryl R. Blanchard, Ph.D., as a Class III director to its Board of Directors, effective April 15, 2026. Her term will expire at the Company's 2027 annual meeting of stockholders. Dr. Blanchard was also appointed as chair of the Compensation Committee and a member of the Audit Committee, receiving standard non-employee director compensation including cash fees and stock options.