Xilio Therapeutics (XLO) Q4 2025 earnings summary

Executive summary

• Advanced XTX501, a bispecific PD-1/masked IL-2, toward IND submission in mid-2026 and Phase 1 initiation in H2 2026.

• Progressed multi-specific masked T cell engager programs targeting PSMA/STEAP1 and CLDN18.2, with new preclinical data to be presented at AACR 2026.

• Extended cash runway through end of 2027, supported by recent financings and milestone payments.

Financial highlights

• Cash and cash equivalents rose to $137.5M as of Dec 31, 2025, from $55.3M a year earlier.

• Collaboration and license revenue was $13.7M for Q4 2025 (vs $1.7M Q4 2024) and $43.8M for FY 2025 (vs $6.3M FY 2024), driven by AbbVie and Gilead agreements.

• R&D expenses increased to $18.1M in Q4 2025 (vs $8.8M Q4 2024) and $56.0M for FY 2025 (vs $41.2M FY 2024), reflecting pipeline advancement.

• Net income of $10.4M in Q4 2025 (vs net loss of $13.1M Q4 2024); net loss of $35.0M for FY 2025 (vs $58.2M FY 2024).

• Total assets at year-end 2025 were $154.7M, with stockholders' equity of $35.3M.

Outlook and guidance

• Cash runway expected through end of 2027, excluding potential future milestone or warrant proceeds.

• IND submissions for masked T cell engager programs targeting PSMA/STEAP1 and CLDN18.2 planned for 2027.

• Initial Phase 1 data for XTX501 anticipated in H2 2027, pending IND clearance.

• Efarindodekin alfa Phase 2 data package for Gilead expected in H1 2027.