Xilio Therapeutics Files Q3 2024 10-Q
Ticker: XLO · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1840233
Sentiment: neutral
Topics: 10-Q, biotech, financials, stock-offering
TL;DR
Xilio's Q3 10-Q is in. Stock and warrant activity detailed, including Gilead deal.
AI Summary
Xilio Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial condition and business operations, including details on its stock and warrant issuances. Key events include the Private Placement Gilead Stock Purchase Agreement and the Private Placement Certain Accredited Investors March 2024, impacting its Additional Paid-In Capital and Common Stock.
Why It Matters
This filing provides investors with an update on Xilio Therapeutics' financial health and operational activities for the third quarter of 2024, crucial for understanding the company's current standing and future prospects.
Risk Assessment
Risk Level: medium — As a clinical-stage biotechnology company, Xilio Therapeutics faces inherent risks related to drug development, regulatory approvals, and market adoption.
Key Numbers
- 20240930 — Period End Date (The 10-Q covers financial and operational data up to this date.)
- 20241107 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Xilio Therapeutics, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- Gilead (company) — Participant in stock purchase agreement
- 828 WINTER STREET, WALTHAM, MA 02451 (address) — Company's business and mailing address
FAQ
What was the total cash and cash equivalents as of September 30, 2024?
The provided text does not contain specific financial figures like cash and cash equivalents for the period ending September 30, 2024.
What were the total revenues for the three and nine months ended September 30, 2024?
The provided text does not specify the total revenues for the periods ended September 30, 2024.
What is the status of Xilio's clinical trials mentioned in the filing?
The provided text does not detail the status of Xilio's clinical trials.
What were the net losses for the three and nine months ended September 30, 2024?
The provided text does not include information on net losses for the specified periods.
What are the terms of the Private Placement Gilead Stock Purchase Agreement?
The provided text indicates the existence of a 'PrivatePlacementGileadStockPurchaseAgreementMember' for the period of 2024-01-01 to 2024-09-30, but does not detail the specific terms.
Filing Stats: 4,456 words · 18 min read · ~15 pages · Grade level 19.5 · Accepted 2024-11-07 09:25:32
Key Financial Figures
- $0.0001 — ch registered Common stock, par value $0.0001 per share XLO Nasdaq Global Select
Filing Documents
- xlo-20240930x10q.htm (10-Q) — 1844KB
- xlo-20240930xex31d1.htm (EX-31.1) — 13KB
- xlo-20240930xex31d2.htm (EX-31.2) — 13KB
- xlo-20240930xex32d1.htm (EX-32.1) — 8KB
- 0001558370-24-014775.txt ( ) — 6173KB
- xlo-20240930.xsd (EX-101.SCH) — 42KB
- xlo-20240930_cal.xml (EX-101.CAL) — 36KB
- xlo-20240930_def.xml (EX-101.DEF) — 212KB
- xlo-20240930_lab.xml (EX-101.LAB) — 372KB
- xlo-20240930_pre.xml (EX-101.PRE) — 326KB
- xlo-20240930x10q_htm.xml (XML) — 713KB
Financial Statements (unaudited)
Financial Statements (unaudited) 7 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 7 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 8 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 9 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 11 Notes to Condensed Consolidated Financial Statements 12 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 39 Part II Other Information 40 Item 1A.
Risk Factors
Risk Factors 40 Item 5. Other Information 109 Item 6. Exhibits 110
Signatures
Signatures 6 Table of Contents
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements XILIO THERAPEUTICS, INC. Condensed Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) September 30, December 31, 2024 2023 ASSETS Current assets Cash and cash equivalents $ 61,259 $ 44,704 Prepaid expenses and other current assets 2,050 3,423 Total current assets 63,309 48,127 Restricted cash 1,775 1,587 Property and equipment, net 4,845 5,942 Operating lease right-of-use asset 4,729 5,125 Other non-current assets — 145 Total assets $ 74,658 $ 60,926 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 972 $ 1,050 Accrued expenses 9,793 10,497 Deferred revenue, current portion 26,105 — Operating lease liability, current portion 1,152 1,047 Note payable, current portion — 3,315 Other current liabilities — 48 Total current liabilities 38,022 15,957 Deferred revenue, net of current portion 8,399 — Operating lease liability, net of current portion 7,263 8,142 Total liabilities 53,684 24,099 Commitments and contingencies (Note 7) Stockholders' equity Preferred stock, $ 0.0001 par value; 5,000,000 shares authorized, no shares issued or outstanding — — Common stock, $ 0.0001 par value; 200,000,000 shares authorized at September 30, 2024 and December 31, 2023; 43,958,074 shares issued and outstanding at September 30, 2024; 27,613,263 shares issued and 27,607,646 shares outstanding at December 31, 2023 4 3 Additional paid-in capital 391,630 362,336 Accumulated deficit ( 370,660 ) ( 325,512 ) Total stockholders' equity 20,974 36,827 Total liabilities and stockholders' equity $ 74,658 $ 60,926 The accompanying notes are an integral part of these condensed consolidated financial statements. 7 Table of Contents XILIO THERAPEUTICS, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per s