Brief: Xilio Therapeutics Announces $11.3 Million Private Placement Equity Financing

Xilio Therapeutics

28/03/2024 11:10

March 28 (Reuters) - Xilio Therapeutics Inc  XLO.O :
    * XILIO THERAPEUTICS ANNOUNCES $11.3 MILLION PRIVATE
PLACEMENT
EQUITY FINANCING
    * ANTICIPATES CASH RUNWAY INTO Q2 2025
    * REPORTS ADDITIONAL PHASE 2 DATA FOR XTX202,
TUMOR-ACTIVATED,
BETA-GAMMA BIASED IL-2, SUPPORTING POTENTIAL AS COMBINATION
THERAPY
    * STRATEGIC PORTFOLIO REPRIORITIZATION FOCUSED ON RAPID
ADVANCEMENT OF CLINICAL-STAGE PROGRAMS FOR XTX301, IL-12, AND
XTX101
    * UNDERTAKE EFFORTS TO FURTHER REDUCE ITS EXPENSES AND
STREAMLINE
ITS OPERATIONS, INCLUDING A REDUCTION IN HEADCOUNT OF 15
EMPLOYEES
    * COMPANY ESTIMATES THAT WORKFORCE REDUCTION WILL BE
SUBSTANTIALLY
COMPLETED IN FIRST HALF OF 2024.
    * PLANS TO DISCONTINUE FURTHER INVESTMENT IN XTX202 AS A
MONOTHERAPY

Source text for Eikon:  ID:nGNX3CWqNp 
Further company coverage:  XLO.O 

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