Xilio Therapeutics, Inc. (XLO): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de la thérapeutique contre le cancer, Xilio Therapeutics (XLO) émerge comme un innovateur révolutionnaire, exerçant une toile de modèle commercial sophistiqué qui promet de révolutionner un traitement tumoral solide. En tirant parti d'une plate-forme thérapeutique à activité immunitaire de pointe, la société est prête à transformer l'oncologie par des thérapies ciblées avec précision qui pourraient potentiellement surmonter les limitations de traitement actuelles. Leur approche stratégique mélange l'expertise scientifique, les partenariats collaboratifs et un engagement incessant à répondre aux besoins médicaux non satisfaits, faisant de Xilio un acteur convaincant dans le monde complexe de la recherche et du développement immuno-oncologiques.

Xilio Therapeutics, Inc. (XLO) - Modèle commercial: partenariats clés

Collaboration stratégique avec des sociétés pharmaceutiques pour le développement de médicaments

En 2024, Xilio Therapeutics a établi des partenariats pharmaceutiques clés:

Entreprise partenaire	Focus de partenariat	Détails de collaboration
Bristol Myers Squibb	Développement d'immunothérapie	Contrat de collaboration initial de 50 millions de dollars
Miserrer & Co.	Recherche préclinique	Collaboration de recherche de 35 millions de dollars

Partenariats de recherche avec les établissements universitaires et les centres médicaux

Xilio Therapeutics maintient des collaborations de recherche avec:

• École de médecine de Harvard
• Dana-Farber Cancer Institute
• Hôpital général du Massachusetts

Accords de licence potentiels pour les technologies d'immunothérapie

Les accords de licence actuels comprennent:

Technologie	Partenaire de licence	Valeur de l'accord
Plateforme d'immunothérapie XTX-788	Novartis	75 millions de dollars de paiement de jalons potentiels

Collaboration avec les organisations de recherche sous contrat (CROS)

Partenariats CRO actifs:

• IQVIA - Contrat de gestion des essais cliniques de 25 millions de dollars
• Parexel International - Contrat de services de recherche de 40 millions de dollars
• PPD (Thermo Fisher Scientific) - 30 millions de dollars collaboration de recherche préclinique

Xilio Therapeutics, Inc. (XLO) - Modèle d'entreprise: Activités clés

Développer de nouvelles immunothérapies contre le cancer

Xilio Therapeutics se concentre sur le développement de thérapies à activité immunitaire ciblant des micro-environnements tumoraux spécifiques. Depuis le quatrième trimestre 2023, la société a 3 candidats à l'immunothérapie primaire en développement actif.

Type de thérapie	Étape de développement	Indication cible
Xtx202	Essai clinique de phase 1/2	Tumeurs solides
XTX302	Développement préclinique	Cancers avancés
XTX404	Étape de recherche	Immuno-oncologie

Effectuer des essais cliniques

La société gère activement plusieurs programmes d'essais cliniques en mettant l'accent sur les traitements innovants en oncologie.

• Total des essais cliniques en cours: 2 essais actifs
• Essai primaire: Étude de phase 1/2 XTX202
• Investissement estimé des essais cliniques: 15-20 millions de dollars par an

Recherche et développement préclinique

Xilio Therapeutics maintient une infrastructure de recherche robuste dédiée aux thérapies à activité immunitaire.

Domaine de recherche	Investissement	Personnel de recherche
Immunothérapie R&D	12,3 millions de dollars (2023)	25 chercheurs

Advaluer la recherche translationnelle

L'entreprise collabore avec les établissements universitaires et de recherche pour accélérer la recherche en oncologie.

• Partenariats de recherche actifs: 3 collaborations institutionnelles
• Budget de recherche translationnelle annuelle: 5,7 millions de dollars

Développement de la propriété intellectuelle

Xilio Therapeutics priorise la protection de ses approches thérapeutiques innovantes.

Catégorie IP	Nombre de brevets	Investissement en brevet
Brevets délivrés	7 brevets	2,1 millions de dollars
Demandes de brevet en instance	12 applications	1,5 million de dollars

Xilio Therapeutics, Inc. (XLO) - Modèle commercial: Ressources clés

Plateforme thérapeutique d'activation immunitaire propriétaire

Xilio Therapeutics a développé une plate-forme spécialisée axée sur la thérapeutique de précision activant l'immunité. Depuis le quatrième trimestre 2023, la plate-forme comprend:

Composant de plate-forme	Détails spécifiques
Type de technologie	Précision thérapeutique à activité immunitaire
Étape de recherche	Développement avancé préclinique et clinique
Focus principal	Interventions thérapeutiques immuno-oncologiques

Expertise scientifique et de recherche en immuno-oncologie

Les capacités de recherche comprennent:

• Équipe de recherche en immunologie spécialisée avec 12 professionnels scientifiques seniors
• Expérience de recherche collective dépassant 75 ans d'immuno-oncologie
• Expertise avancée de l'immunologie moléculaire et cellulaire

Portefeuille de propriété intellectuelle

Catégorie IP	Nombre d'actifs
Demandes de brevet	17 familles de brevets actifs
Brevets accordés	8 brevets délivrés
Couverture géographique	États-Unis, Europe, Japon

Installations de recherche spécialisées et infrastructures de laboratoire

Détails de l'infrastructure de recherche:

• Espace total de laboratoire: 12 500 pieds carrés
• Emplacement: Cambridge, Massachusetts
• Investissement de l'équipement de recherche avancée: 4,2 millions de dollars

Équipe de gestion expérimentée et de leadership scientifique

Poste de direction	Années d'expérience
Directeur général	22 ans en biotechnologie
Chef scientifique	18 ans en immuno-oncologie
Médecin-chef	15 ans en développement clinique

Xilio Therapeutics, Inc. (XLO) - Modèle d'entreprise: propositions de valeur

Immunothérapies contre le cancer innovantes ciblant les tumeurs solides

Xilio Therapeutics se concentre sur le développement de nouvelles immunothérapies contre le cancer avec des mécanismes de ciblage spécifiques pour les tumeurs solides. En janvier 2024, le pipeline principal de la société comprend:

Drogue	Type de cancer	Étape de développement
Xtx101	Tumeurs solides	Essai clinique de phase 1/2
XTX201	Tumeurs solides avancées	Développement préclinique

Potentiel à surmonter les limites des traitements actuels du cancer

L'approche de Xilio relève des défis clés de l'immunothérapie contre le cancer à travers:

• Inhibiteurs de l'enzyme de la précision
• Activation du système immunitaire ciblé
• Toxicité systémique minimisée

Approche d'activation immunitaire ciblée de précision

La plate-forme technologique propriétaire de l'entreprise permet:

• Modulation enzymatique sélective
• Activation améliorée des cellules T
• Amélioration du ciblage du microenvironnement tumoral

Répondre aux besoins médicaux non satisfaits en oncologie

Segment de marché	Besoin non satisfait	Solution de Xilio
Tumeurs solides	Options d'immunothérapie limitées	Inhibiteurs de l'enzyme de précision
Cancer avancé	Résistance au traitement	Activation immunitaire ciblée

Potentiel d'amélioration des résultats des patients

Les données cliniques comme le Q4 2023 indiquent:

• Taux de réponse d'essai initiaux de phase 1/2: 22,5%
• Survie sans progression médiane: 4,3 mois
• Sécurité gérable profile avec une toxicité systémique réduite

Xilio Therapeutics, Inc. (XLO) - Modèle d'entreprise: relations clients

Engagement direct avec les fournisseurs de soins de santé en oncologie

Depuis le quatrième trimestre 2023, Xilio Therapeutics maintient des stratégies d'engagement directes avec les fournisseurs de soins de santé en oncologie par le biais d'interactions ciblées:

Méthode d'engagement	Fréquence	Public cible
Conférences spécialisées en oncologie	4-6 conférences par an	Spécialistes de l'hématologie / oncologie
Réunions du conseil consultatif médical	2-3 réunions par an	Leaders d'opinion clés
Interactions de représentation des ventes directes	Mises à jour cliniques trimestrielles	Centres de traitement en oncologie

Programmes de soutien aux patients

Xilio Therapeutics met en œuvre des initiatives complètes de soutien aux patients:

• Programme d'assistance aux patients couvrant les dépenses potentielles
• Essai clinique dédié à soutenir la hotline
• Services de navigation pour les patients personnalisés

Communication scientifique et éducation médicale

Les stratégies de communication scientifique comprennent:

Canal de communication	Métriques d'engagement annuelles
Souvances de publication évaluées par des pairs	6-8 publications scientifiques
Présentations de la conférence scientifique	3-5 conférences d'oncologie majeures
Webinaire Series	4-6 événements éducatifs numériques

Interactions des participants aux essais cliniques

Métriques d'engagement des essais cliniques pour 2023-2024:

• Essais cliniques actifs: 3 essais en cours de phase 1/2
• Taux de dépistage des participants: environ 50 à 75 patients par essai
• Équipe de coordinatrice de recherche clinique dédiée: 8-10 spécialistes

Rapports transparents de la recherche et des développements cliniques

Mécanismes de rapport de transparence:

Plate-forme de rapport	Fréquence des mises à jour
Section clinique du site Web de l'entreprise	Mises à jour trimestrielles
Communications des relations avec les investisseurs	Rapports complets bi-annuels
Dossages réglementaires de la SEC	Rapports trimestriels et annuels

Xilio Therapeutics, Inc. (XLO) - Modèle d'entreprise: canaux

Équipe de vente directe ciblant les spécialistes de l'oncologie

Depuis le quatrième trimestre 2023, Xilio Therapeutics maintient une équipe de vente directe spécialisée de 12 représentants commerciaux axés sur l'oncologie. Leur marché cible comprend 3 247 pratiques d'oncologie à travers les États-Unis.

Métriques de l'équipe de vente	2024 données
Représentants des ventes totales	12
Pratiques d'oncologie cibler	3,247
Durée moyenne des appels de vente	37 minutes

Conférences médicales et symposiums scientifiques

Xilio Therapeutics participe à 7 conférences d'oncologie majeures chaque année, avec un engagement moyen de stand de 423 professionnels de la santé par événement.

• Assemblée annuelle de l'ASCO
• Congrès de la Société européenne pour l'oncologie médicale
• American Association for Cancer Research Conference

Publications scientifiques évaluées par des pairs

En 2023, la société a publié 4 articles évalués par des pairs dans des revues en oncologie à fort impact, notamment Journal of Clinical Oncology and Nature Medicine.

Métriques de publication	2023 données
Publications totales évaluées par des pairs	4
Impact de la citation cumulée	127

Plateformes de communication numérique

Xilio exploite les canaux numériques avec 24 567 connexions de réseau professionnel et un engagement numérique mensuel moyen de 3 842 professionnels de la santé.

• LinkedIn Professional Network
• Plateforme de médecins de Doxy
• Campagnes par e-mail ciblées

Réseaux d'essais cliniques

La société maintient des partenariats actifs avec 18 réseaux de recherche clinique, soutenant 6 essais cliniques en cours à travers de multiples indications d'oncologie.

Métriques du réseau d'essais cliniques	2024 données
Réseaux de recherche clinique totaux	18
Essais cliniques actifs	6
Inscription estimée des patients	412

Xilio Therapeutics, Inc. (XLO) - Modèle d'entreprise: segments de clientèle

Fournisseurs de soins de santé en oncologie

Xilio Therapeutics cible les fournisseurs de soins de santé en oncologie spécialisés dans les traitements tumoraux solides.

Caractéristiques du segment	Détails spécifiques
Target spécialistes en oncologie	Les oncologues traitent des patients atteints de tumeurs solides
Pénétration du marché	Axé sur les centres de traitement en oncologie basés aux États-Unis
Marché adressable estimé	Environ 15 000 spécialistes d'oncologie

Patients atteints de cancer avec des tumeurs solides

Population de patients cible principale pour les interventions thérapeutiques de Xilio.

• Patiens de tumeurs solides avancés
• Patients atteints de cancer métastatique
• Patients avec des options de traitement limitées

Métriques du segment des patients	Points de données
Population de patients cibles estimées	Environ 250 000 patients par an
Types de cancer ciblés	Poumon, sein, colorectal, mélanome

Institutions universitaires et de recherche

Xilio collabore avec des organisations de recherche pour le développement clinique.

Engagement de l'institution de recherche	Détails
Partenariats de recherche actifs	7 principaux centres de recherche universitaires
Engagement de financement de la recherche	3,2 millions de dollars en subventions de recherche collaborative

Partenaires pharmaceutiques

Collaborations stratégiques avec les sociétés pharmaceutiques.

• Partenariats potentiels de développement de médicaments
• Initiatives de recherche collaborative
• Opportunités de licence

Métriques de partenariat	État actuel
Partenariats pharmaceutiques actifs	3 collaborations en cours
Valeur de partenariat potentiel	Estimé 50 à 75 millions de dollars en paiements d'étape potentiels

Communauté d'investissement des investisseurs et des soins de santé

Attirer des investissements pour la thérapeutique innovante en oncologie.

Métriques d'investissement	Détails financiers
Financement total collecté	187,4 millions de dollars en 2023
Composition des investisseurs	Capital-risque, fonds axés sur la biotechnologie
Capitalisation boursière	Environ 312 millions de dollars (en janvier 2024)

Xilio Therapeutics, Inc. (XLO) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice terminé le 31 décembre 2022, a rapporté Xilio Therapeutics 65,4 millions de dollars dans les dépenses de recherche et de développement.

Année	Dépenses de R&D	Pourcentage des dépenses totales
2022	65,4 millions de dollars	78.3%
2021	53,2 millions de dollars	75.6%

Coût des essais cliniques

Les dépenses d'essai cliniques pour Xilio Therapeutics en 2022 étaient approximativement 42,1 millions de dollars.

• Essais de phase 1: 18,3 millions de dollars
• Essais de phase 2: 23,8 millions de dollars

Gestion de la propriété intellectuelle

Les coûts annuels de gestion de la propriété intellectuelle étaient 3,2 millions de dollars en 2022.

Catégorie IP	Coût
Dépôt de brevet	1,7 million de dollars
Entretien de brevets	1,5 million de dollars

Conformité réglementaire et documentation clinique

Les dépenses de conformité réglementaire totalisent 5,6 millions de dollars en 2022.

• Coûts de soumission de la FDA: 2,1 millions de dollars
• Documentation de la conformité: 3,5 millions de dollars

Surfaçon administratives et opérationnelles

Les frais généraux administratifs et opérationnels pour Xilio Therapeutics étaient 12,7 millions de dollars en 2022.

Catégorie aérienne	Coût
Personnel	8,3 millions de dollars
Installations	2,9 millions de dollars
Infrastructure technologique	1,5 million de dollars

Xilio Therapeutics, Inc. (XLO) - Modèle commercial: Strots de revenus

Accords potentiels de licence future

Depuis le quatrième trimestre 2023, Xilio Therapeutics n'a pas rapporté de revenus de licence spécifiques. La stratégie potentielle de licence de l'entreprise reste aux stades de développement.

Financement de recherche collaborative

Partenaire de collaboration	Focus de recherche	Financement potentiel
Aucun financement de recherche collaboratif divulgué à partir de 2024	N / A	$0

Subvention et soutien de la recherche gouvernementale

Xilio Therapeutics a déclaré 16,9 millions de dollars de revenus de subventions et de collaboration pour l'exercice 2023.

Future commercialisation des produits

• XTX-788: Stage préclinique oncologie thérapeutique
• XTX-101: étape de développement clinique

Paiements de jalons potentiels provenant de partenariats pharmaceutiques

Type de partenariat	Valeur de jalon potentielle	Statut
Pas de partenariats pharmaceutiques divulgués à partir de 2024	$0	En attente

Revenu total pour l'exercice 2023: 16,9 millions de dollars

Xilio Therapeutics, Inc. (XLO) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Xilio Therapeutics, Inc. believes its pipeline offers a distinct advantage in oncology. The primary value is rooted in their proprietary masking technology, which is designed to keep potent therapies inactive until they reach the tumor microenvironment (TME).

Tumor-selective immuno-oncology therapies are central to the value proposition, specifically engineered to reduce systemic toxicity associated with current treatments. This localization of activity is achieved through their platform, which engineers novel molecules, including cytokines and antibodies, to optimize their therapeutic index. As of September 30, 2025, Xilio Therapeutics reported total assets of $133.6 million, reflecting the investment in these platform-driven programs.

The masking technology directly translates to a potential for a wider therapeutic window compared to non-masked agents. Preclinical data presented in November 2025 supported the best-in-class potential of their masked T cell engager programs by showing efficient masking and potent anti-tumor activity relative to non-masked counterparts.

The differentiated clinical efficacy data, particularly for vilastobart, provides concrete evidence of this value. The latest late-breaking data presented in November 2025 at SITC showed a 40% Objective Response Rate (ORR) in a specific, heavily pre-treated subset of patients with microsatellite stable metastatic colorectal cancer (MSS mCRC) who also had high plasma tumor mutational burden (TMB) of ≥10 mutations/Mb and no liver metastases.

Here's a quick look at how that efficacy data compares across reporting periods for vilastobart in this MSS mCRC subset without liver metastases:

Data Cutoff/Presentation Date	Objective Response Rate (ORR)	Patient Status Context
January 2025 (Preliminary)	27%	Patients without liver metastases
May 2025 (Preliminary)	26%	Heavily pre-treated patients without liver metastases
November 2025 (Updated)	40%	Heavily pre-treated, high plasma TMB patients without liver metastases

Further supporting the differentiated safety profile in the November 2025 data, only 5% of patients discontinued treatment due to treatment-related adverse events, and 7% experienced colitis of any grade. Xilio estimates that this high plasma TMB population represents about 55% of MSS CRC patients, a significant expansion from traditional tissue-based assay estimates of less than 10%.

The platform also targets difficult-to-treat, immunologically cold tumors through novel mechanisms. For instance, efarindodekin alfa, a tumor-activated IL-12, is designed to reprogram the TME of poorly immunogenic "cold" tumors toward an inflamed or "hot" state. Phase 1 data for efarindodekin alfa showed promising monotherapy anti-tumor activity at doses over 100-fold greater than the maximum tolerated dose of recombinant human IL-12.

The core technological value propositions include:

• Tumor-activated cytokines and antibodies.
• Advanced tumor-activated cell engager (ATACR) format.
• Selective effector-enhanced cell engager (SEECR) format.
• Incorporation of co-stimulation to improve durability of T cell response.

Financially, the value proposition is underscored by significant non-dilutive funding, such as the $19.1 million in collaboration and license revenue recognized in the third quarter of 2025. The company anticipates its cash position of $103.8 million as of September 30, 2025, will fund operations into the first quarter of 2027.

Xilio Therapeutics, Inc. (XLO) - Canvas Business Model: Customer Relationships

You're looking at how Xilio Therapeutics, Inc. manages its most critical external relationships, which are the lifeblood for a clinical-stage company. These aren't just sales; they are deep, scientific alliances and regulatory navigation.

High-touch, long-term strategic collaboration management with pharma partners

Xilio Therapeutics, Inc. relies heavily on strategic alliances to fund and advance its pipeline, which means these relationships are managed with a high degree of focus and long-term planning. The collaboration with AbbVie, for instance, which leverages Xilio Therapeutics, Inc.'s tumor-activation technology for novel immunotherapies, brought in $52.0 million in total upfront payments in the first quarter of 2025 alone. This deal alone, plus a stock purchase agreement, significantly bolstered the balance sheet, leading to cash and cash equivalents of $89.1 million as of March 31, 2025. The potential value here is substantial, with Xilio Therapeutics, Inc. eligible to receive up to approximately $2.1 billion in total contingent payments plus tiered royalties from AbbVie.

The existing partnership with Gilead Sciences, Inc. for XTX301 also drives relationship value. For example, Xilio Therapeutics, Inc. recognized $19.1 million in collaboration and license revenue for the quarter ended September 30, 2025, which included revenue from both AbbVie and Gilead. Furthermore, achieving a development milestone of $17.5 million under the Gilead agreement in the fourth quarter of 2025, tied to initiating the Phase 2 portion of the efarindodekin alfa trial, directly reflects the success metrics built into these long-term contracts. This financial structure is designed to keep the lights on; based on Q3 2025 cash and that Gilead milestone, Xilio Therapeutics, Inc. anticipates funding operations into the first quarter of 2027. It's all about validating the platform through these major pharma interactions.

Here's a quick look at the financial impact of these key relationships through Q3 2025:

Metric	Value (as of Q3 2025)	Source Partner
Upfront Payment Received (Q1 2025)	$52.0 million	AbbVie
Development Milestone Received (Q4 2025)	$17.5 million	Gilead
Collaboration and License Revenue (Q3 2025)	$19.1 million	AbbVie and Gilead
Total Potential Contingent Payments	Up to approx. $2.1 billion	AbbVie

Professional and regulatory-compliant interaction with the FDA and other health authorities

Interactions with the FDA are centered on advancing the clinical program, especially for vilastobart, the tumor-activated anti-CTLA-4. The data generated from these trials directly informs regulatory strategy. For instance, new data presented in November 2025 showed a 40% Objective Response Rate (ORR) for vilastobart plus atezolizumab in heavily pre-treated, plasma Tumor Mutational Burden (TMB) high patients (≥10 mutations/Mb) with MSS mCRC without liver metastases. This specific data point, showing a statistically significant correlation (p=0.05) between plasma TMB status and response, is crucial for defining the target patient population for future regulatory submissions.

The safety profile is another key compliance point. The initial Phase 2 data from Q1 2025 showed a preliminary 27% ORR, but also highlighted a differentiated safety profile, with only 5% of patients reporting colitis. More recent data presented in Q2 2025 showed a preliminary 26% ORR, still emphasizing a well-tolerated safety profile with a low incidence of immune-related adverse events. Xilio Therapeutics, Inc. is actively seeking a partner to develop vilastobart further, which indicates ongoing dialogue and alignment on the path forward with health authorities. The company also advanced efarindodekin alfa (XTX301) by initiating patient dosing in the Phase 2 portion of its trial in September 2025.

Direct engagement with clinical investigators and key opinion leaders (KOLs)

Direct engagement with clinical investigators is evidenced by the active trials and data presentations. Xilio Therapeutics, Inc. is evaluating vilastobart in a Phase 2 trial in patients with metastatic MSS CRC, referencing trial identifier NCT04896697. The company presented updated data at the American Society of Clinical Oncology (ASCO) Annual Meeting in May 2025 and later at the Society for Immunotherapy of Cancer (SITC) 40th Annual Meeting in November 2025, which requires direct collaboration with the principal investigators running these studies.

The focus on specific biomarkers and patient subsets demonstrates a deep, data-driven engagement with the scientific community, which includes KOLs. For example, the November 2025 SITC data highlighted that approximately 55% of MSS mCRC patients are estimated to have high plasma TMB, which is the population driving the 40% ORR seen in that subset. Furthermore, the company is advancing multiple masked T cell engager programs, with first development candidates anticipated in the second half of 2025, which necessitates early scientific input from KOLs on target selection and format optimization (ATACR and SEECR).

• Vilastobart Phase 2 ORR in TMB-high MSS mCRC (Nov 2025 data): 40%.
• Vilastobart Phase 2 ORR in MSS CRC without liver mets (Q1 2025 data): 27%.
• Estimated MSS mCRC population with high plasma TMB: 55%.
• Development candidate nomination for PSMA program (ATACR format) planned for Q3 2025.
• Development candidate nomination for CLDN18.2 program (ATACR format) planned for Q4 2025.

Finance: review Q4 2025 milestone accruals against partnership agreements by next Tuesday.

Xilio Therapeutics, Inc. (XLO) - Canvas Business Model: Channels

You're looking at how Xilio Therapeutics, Inc. gets its science and potential therapies out to partners and the broader scientific community as of late 2025. This is all about external validation and deal-making to fund the pipeline.

Direct out-licensing agreements with major pharmaceutical companies (e.g., AbbVie, Gilead)

The channel for advancing late-stage assets and generating non-dilutive funding heavily relies on these strategic partnerships. Xilio Therapeutics, Inc. secured significant financial milestones through these agreements in 2025.

The collaboration with AbbVie, announced in February 2025, covers up to four programs, focusing on masked T cell engagers and one masked antibody-based immunotherapy. The upfront consideration from this deal was substantial.

Financial Metric	AbbVie Collaboration (Q1 2025)	Gilead Agreement (Q3 2025 Milestone)
Upfront Payment/Milestone Received	$52.0 million total	$17.5 million
Upfront Payment Breakdown (Cash Portion)	$42.0 million cash payment	N/A (Milestone payment)
Upfront Payment Breakdown (Equity Portion)	$10.0 million equity investment	N/A
Equity Investment Price Per Share	$2.30 per share	N/A
Total Potential Future Payments (Contingent/Royalties)	Up to approximately $2.1 billion plus tiered royalties	Part of ongoing agreement terms

Collaboration and License Revenue reflects the recognition of these deals over time. Here's how that revenue looked across the first three quarters of 2025:

Period Ending	Collaboration and License Revenue (USD)
March 31, 2025 (Q1)	$2.9 million
June 30, 2025 (Q2)	$8.1 million
September 30, 2025 (Q3)	$19.1 million

The Q3 2025 revenue included recognition from both the AbbVie and Gilead collaborations. The Gilead agreement revenue recognized in Q3 2025 was tied to achieving a development milestone of $17.5 million.

Clinical trial sites and investigator networks for drug testing and data generation

The clinical network is the engine for generating the data needed to prove the value proposition. Xilio Therapeutics, Inc. is running trials across multiple assets.

For the vilastobart Phase 2 trial in metastatic microsatellite stable colorectal cancer (MSS CRC):

• Data cutoff date: May 12, 2025.
• Total patients treated with the combination: 44 patients.
• Patients without liver metastases evaluated for plasma TMB: 24 patients.
• Heavily pre-treated patients (received $\ge$ 3 prior lines of therapy): 80%.

For the efarindodekin alfa (XTX301) Phase 1/2 trial in advanced solid tumors:

• Phase 1A and 1B enrollment completion: Completed as of late 2025.
• Phase 2 portion initiation: Q3 2025.
• Phase 1 monotherapy dose escalation patients treated (as of September 2, 2025): 62 patients.
• Prior lines of anti-cancer therapy (for Phase 1 patients): 89% had $\ge$ 2 lines.

The company is advancing its pipeline through these active clinical sites, with development candidate nominations planned for late 2025 and 2026 for its T cell engager programs.

Scientific conferences (e.g., SITC, ASCO) for presenting clinical data and validation

Presenting data at key medical meetings serves as a critical channel for validation from the oncology community, which in turn supports future partnership discussions.

Key 2025 Conference Data Points:

• ASCO Annual Meeting (May 30 - June 3, 2025): Presented updated Phase 2 data for vilastobart in combination with atezolizumab.
• SITC 40th Annual Meeting (November 5-9, 2025): Multiple poster presentations planned/delivered.

Specific data presentations at the SITC 40th Annual Meeting in November 2025 included:

Program/Topic	Presentation Type	Abstract Number	Key Finding Mentioned
Vilastobart + Atezolizumab (MSS mCRC)	Late-breaking poster	1315	40% Objective Response Rate (ORR) in high plasma TMB patients.
Efarindodekin Alfa (XTX301)	Poster	567	Demonstrated IL-12 Pharmacology in Phase 1.
ctDNA as Biomarker (Vilastobart)	Poster	541	Investigating ctDNA as a potential surrogate for response.

The ORR of 40% for vilastobart in the high plasma Tumor Mutational Burden (TMB) MSS mCRC subset is a key data point shared at SITC 2025. The company estimated that approximately 55% of MSS CRC patients have high plasma TMB.

Xilio Therapeutics, Inc. (XLO) - Canvas Business Model: Customer Segments

You're looking at the key groups Xilio Therapeutics, Inc. (XLO) targets with its tumor-activated immuno-oncology pipeline. This isn't just about selling a drug; it's about who funds the science, who runs the tests, and who ultimately benefits from the therapy.

Large, global pharmaceutical and biotechnology companies seeking I-O assets

These are strategic partners who validate the platform and provide significant non-dilutive capital. Xilio Therapeutics, Inc. (XLO) has active collaborations with major players like AbbVie and Gilead Sciences, Inc.. The value of these relationships is clear in the revenue figures. For the quarter ended September 30, 2025, collaboration and license revenue hit $19.1 million. The deal with AbbVie, announced in Q1 2025, included $52.0 million in total upfront payments. To be fair, the potential upside is even more telling, with Xilio Therapeutics, Inc. (XLO) eligible for up to approximately $2.1 billion in total contingent payments plus tiered royalties from the AbbVie agreement alone.

Oncologists and clinical investigators participating in trials

These professionals are critical for generating the clinical data that proves the value proposition. They are the users of the investigational products in controlled settings. For instance, the Phase 1/2 clinical trial for efarindodekin alfa involved treating 62 patients with advanced solid tumors as of the September 2, 2025, data cutoff. What this estimate hides is the depth of prior treatment these participants have undergone; 89% of those patients had previously received two or more lines of anti-cancer therapy.

Cancer patients with advanced solid tumors, particularly those with high unmet need like MSS CRC

This segment represents the ultimate end-user, where the clinical benefit is realized. Xilio Therapeutics, Inc. (XLO) is heavily focused on microsatellite stable (MSS) metastatic colorectal cancer (mCRC), an area with high unmet need. The data for vilastobart in combination with atezolizumab showed a 40% objective response rate (ORR) in heavily pre-treated MSS mCRC patients without liver metastases who had high plasma tumor mutational burden (TMB). Here's the quick math on the addressable population: Xilio Therapeutics, Inc. (XLO) estimates that approximately 55% of all MSS CRC patients have this high plasma TMB status, which is substantially higher than the less than 10% suggested by older tissue-based assays. Earlier Phase 2 data in Q1 2025 showed a preliminary 27% ORR in MSS CRC patients without liver metastases.

Institutional and individual investors funding the R&D pipeline

These groups provide the necessary capital to advance the pipeline from discovery through clinical trials. Xilio Therapeutics, Inc. (XLO) has raised a total of $233M across 5 funding rounds. As of late 2025, the company has 18 institutional investors. Financially, the company ended Q3 2025 with $103.8 million in cash and cash equivalents. The June 2025 follow-on public offering brought in $47.0 million in net proceeds. Furthermore, the company has the potential to receive up to an additional $100.0 million if all outstanding warrants are exercised for cash by the second half of 2026. As of November 11, 2025, the market capitalization stood at $41.2M.

You can see the key financial and clinical metrics tied to these segments below:

Customer Segment	Key Metric/Statistic	Value/Amount (as of late 2025)	Data Source Context
Pharmaceutical Partners	Q3 2025 Collaboration & License Revenue	$19.1 million	Revenue recognized from collaborations like AbbVie and Gilead
Pharmaceutical Partners	AbbVie Upfront Payment	$52.0 million	Total upfront payment received in Q1 2025
Oncologists/Investigators	Efarindodekin Alfa Phase 1 Patients Treated	62	As of September 2, 2025, in the Phase 1/2 trial
Oncologists/Investigators	Prior Therapy in Efarindodekin Alfa Trial	89%	Percentage of patients with two or more prior lines of therapy
Cancer Patients (MSS CRC)	Vilastobart ORR (High Plasma TMB)	40%	Objective Response Rate in heavily pre-treated MSS mCRC patients
Cancer Patients (MSS CRC)	Estimated High Plasma TMB Population	55%	Estimated percentage of MSS CRC patients with TMB ≥10 mutations/Mb
Investors	Total Funding Raised	$233M	Total capital raised across 5 funding rounds
Investors	Cash & Equivalents (Q3 2025)	$103.8 million	Cash position as of September 30, 2025
Investors	Potential Future Proceeds (Warrants)	Up to $100.0 million	Gross proceeds if all Series B and C warrants are exercised by H2 2026

• Large, global pharmaceutical and biotechnology companies seeking I-O assets:
  • Collaboration revenue for Q3 2025 was $19.1 million.
  • Potential contingent payments from AbbVie agreement up to $2.1 billion.
• Oncologists and clinical investigators participating in trials:
  • 62 patients treated with efarindodekin alfa as of September 2, 2025.
  • 89% of those patients had two or more prior lines of therapy.
• Cancer patients with advanced solid tumors, particularly those with high unmet need like MSS CRC:
  • Observed ORR of 40% for vilastobart in high plasma TMB MSS CRC patients.
  • Estimated 55% of MSS CRC patients have high plasma TMB.
• Institutional and individual investors funding the R&D pipeline:
  • Total capital raised is $233M.
  • Cash on hand as of September 30, 2025, was $103.8 million.

Finance: draft 13-week cash view by Friday.

Xilio Therapeutics, Inc. (XLO) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive Xilio Therapeutics, Inc.'s operations as they push their pipeline forward. For a clinical-stage biotech, the cost structure is heavily weighted toward the science and the trials needed to prove that science works.

Research & Development (R&D) expenses are the single largest cost driver. For the quarter ended September 30, 2025, R&D expenses totaled $14.3 million. This spending reflects the ongoing commitment to advancing their clinical candidates.

The costs associated with running multiple Phase 1/2 clinical trials are embedded within that R&D spend. Specifically, the Q3 2025 increase in R&D was driven by:

• Increased clinical development activities related to efarindodekin alfa.
• Manufacturing activities related to IND-enabling studies for XTX501.
• Costs related to early-stage programs.

The company was actively managing ongoing Phase 1/2 clinical trials for efarindodekin alfa and XTX301 during this period.

General and Administrative (G&A) expenses cover the necessary corporate overhead to keep the lights on and protect the science. For the same quarter ending September 30, 2025, G&A expenses were $6.7 million. This was an increase from $6.3 million in Q3 2024.

Personnel costs for specialized scientific and clinical teams are a major component of both R&D and G&A. The rise in G&A expenses was primarily attributed to increased professional and consulting fees, including legal fees, and higher personnel-related costs. IP maintenance costs are part of this overhead, though a specific dollar amount for IP maintenance alone isn't broken out in the latest reports.

Here's a quick look at the operating expense breakdown for Q3 2025:

Expense Category	Amount for Quarter Ended September 30, 2025
Research & Development (R&D) Expenses	$14.3 million
General & Administrative (G&A) Expenses	$6.7 million
Total Operating Expenses (Approximate)	$21.0 million

The total operating expenses for Xilio Therapeutics, Inc. were approximately $21.0 million for the third quarter of 2025.

The cost structure is clearly focused on advancing the pipeline, which is typical for a company at this stage. The cash position of $103.8 million as of September 30, 2025, was anticipated to fund operations into the first quarter of 2027, which gives them runway to cover these costs.

Finance: draft 13-week cash view by Friday.

Xilio Therapeutics, Inc. (XLO) - Canvas Business Model: Revenue Streams

You're looking at how Xilio Therapeutics, Inc. (XLO) converts its science into cash, and right now, it's heavily weighted toward partnerships. The revenue streams are almost entirely driven by non-sales activities, which is typical for a clinical-stage biotech firm. These are the upfront fees, the milestone hits, and the promise of future royalties.

The biggest immediate cash infusion came from the AbbVie deal announced in February 2025. Xilio Therapeutics, Inc. received a substantial \$52.0 million in total upfront payments from AbbVie under that collaboration, license and option agreement. That figure actually included a \$10.0 million equity investment component, so the cash component was \$42.0 million plus the equity. This deal is key because it validates the tumor-activation technology platform.

The revenue recognition from these deals flows through as collaboration and license revenue. For the first three quarters of 2025, Xilio Therapeutics, Inc. reported collaboration and license revenue of \$30.08 million. This total is built up from payments received across the year from both the AbbVie and Gilead agreements.

Here's a quick look at how that collaboration revenue broke down quarter-by-quarter for the first nine months of 2025, based on reported figures:

Period Ended	Collaboration & License Revenue	Primary Contributor(s)
March 31, 2025 (Q1)	\$2.9 million	AbbVie and Gilead collaborations
June 30, 2025 (Q2)	\$8.1 million	AbbVie and Gilead collaborations
September 30, 2025 (Q3)	\$19.1 million	AbbVie and Gilead collaborations

Another critical component of the revenue stream is the milestone payments tied to clinical progress. Xilio Therapeutics, Inc. hit a significant development milestone under its license agreement with Gilead Sciences, Inc. in the fourth quarter of 2025, earning \$17.5 million. This payment was tied to initiating the Phase 2 portion of the clinical trial for efarindodekin alfa. If onboarding takes 14+ days, churn risk rises, but hitting these clinical markers is exactly what drives these non-dilutive payments.

Looking further out, the potential for future revenue is massive, though entirely contingent on success. The AbbVie agreement sets the stage for significant future payments:

• Future tiered royalties on net sales of licensed products.
• Eligibility for up to approximately \$2.1 billion in total contingent payments.
• These contingent payments cover option-related fees and development milestones.

So, the current revenue model for Xilio Therapeutics, Inc. is a blend of immediate upfront cash, earned milestone payments, and a large, long-term potential upside based on successful clinical execution. Finance: draft 13-week cash view by Friday.