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Xilio Therapeutics, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing details Xilio's financial condition, reporting a net loss of $14,020,000 for the three months ended September 30, 2024, compared to a net loss of $16,748,000 for the same period in 2023.
Xilio's revenue for the quarter was $2,263,000, derived from license agreements, compared to no revenue in the same quarter last year.
Research and development expenses were $10,759,000, slightly down from $11,051,000 in the previous year, reflecting ongoing clinical trials and development activities.
General and administrative expenses remained stable at $6,307,000, compared to $6,310,000 in the previous year.
Xilio reported $742,000 in other income, primarily from interest income, marking an increase from $613,000 the previous year.
The company ended the quarter with cash and cash equivalents of $61,259,000, expecting these funds to support operations through the second quarter of 2025.
Xilio continues to advance its clinical-stage product candidates, including vilastobart (XTX101) and XTX301, in various trials, with plans to report further data in the coming quarters.
The filing also highlights Xilio's strategic reprioritization and workforce reduction efforts aimed at optimizing resources and extending its cash runway.
Xilio acknowledges substantial doubt about its ability to continue as a going concern without securing additional capital or implementing further cost reductions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Xilio Therapeutics Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.