Xilio Therapeutics Announces Pipeline and Business Updates and Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Xilio Therapeutics announced promising updates regarding its pipeline, particularly the initial Phase 2 data for vilastobart, a tumor-activated anti-CTLA-4, showing a preliminary 27% objective response rate in patients without liver metastases [2][5] - The company is advancing multiple masked T cell engager programs, including a collaboration with AbbVie to develop novel tumor-activated immunotherapies [2][12] - Financial results for the fourth quarter and full year ended December 31, 2024, indicate a net loss of $13.1 million for Q4 2024, down from$17.7 million in Q4 2023, and a total net loss of $58.2 million for the year, compared to$76.4 million in 2023 [18][25] Pipeline and Business Updates - Vilastobart is designed to block CTLA-4 and deplete regulatory T cells when activated in the tumor microenvironment, with ongoing Phase 2 trials expected to report additional data in mid-2025 [3][15] - XTX301, another investigational product, aims to stimulate anti-tumor immunity and reprogram the tumor microenvironment of poorly immunogenic tumors [6][16] - The company is also advancing XTX501, a tumor-activated bispecific PD-1/IL-2, with plans to submit an IND application in mid-2026 [7] Collaboration and Financial Highlights - In February 2025, Xilio entered a collaboration agreement with AbbVie, receiving $52 million in upfront payments and potential total contingent payments of approximately$2.1 billion [12][18] - As of December 31, 2024, Xilio's cash and cash equivalents were $55.3 million, an increase from$44.7 million at the end of 2023, providing sufficient funds to support operations into Q1 2026 [14][18] - License revenue for Q4 2024 was $1.7 million, with total revenue for the year at$6.3 million, marking a significant increase from no revenue in 2023 [18][25]