Xilio Therapeutics Announces Pipeline and Business Updates and First Quarter 2025 Financial Results

Core Insights - Xilio Therapeutics announced progress in its pipeline, particularly highlighting the Phase 2 data for vilastobart, a tumor-activated anti-CTLA-4 monoclonal antibody, in combination with atezolizumab for treating metastatic microsatellite stable colorectal cancer (MSS CRC) [1][2][5] - The company is advancing multiple masked T cell engager programs and anticipates the first development candidates in the second half of 2025 [1][2] Pipeline and Business Updates - Vilastobart is designed to block CTLA-4 and deplete regulatory T cells when activated in the tumor microenvironment, currently evaluated in Phase 1C and Phase 2 trials [3][14] - Initial Phase 2 data showed a 27% objective response rate in late-line MSS CRC patients without liver metastases, with a favorable safety profile [2][5] - XTX301, a tumor-activated IL-12, is in Phase 1 trials, with a partnership established with Gilead for its development [6][15] - XTX501, a masked PD-1/IL-2 bispecific, is in IND-enabling studies, with an IND application planned for mid-2026 [7][9] Corporate Updates - Xilio entered a collaboration agreement with AbbVie, receiving $52 million upfront and potential total payments of approximately $2.1 billion [10] - The company reported cash and cash equivalents of $89.1 million as of March 31, 2025, an increase from $55.3 million at the end of 2024 [11][20] Financial Results - Collaboration and license revenue for Q1 2025 was $2.9 million, with R&D expenses at $8.3 million, down from $10.4 million in Q1 2024 [17][22] - General and administrative expenses increased to $8.5 million from $6.1 million year-over-year [17][22] - The net loss for Q1 2025 was $13.3 million, compared to $17.2 million in the same quarter of 2024 [17][22]