24/7 Market News Snapshot 19 December, 2024 – Xilio Therapeutics, Inc. Common Stock (NASDAQ:XLO)

December 19, 2024

DENVER, Colo., 19 December, 2024 (247marketnews.com) – (NASDAQ:XLO) are discussed in this article.
Xilio Therapeutics, Inc. has experienced remarkable momentum in the financial markets, with its stock opening at $0.947 and witnessing a surge to $1.547, representing an increase of 78.53%. This remarkable activity was highlighted by a trading volume of 1.64 million shares, reflecting heightened investor interest and confidence in the company’s innovative approach within the biotech sector.

In parallel to this market enthusiasm, Xilio has made significant strides in its clinical research initiatives, particularly in immuno-oncology therapies designed for cancer treatment. The company recently disclosed promising preliminary data from its Phase 1 trial for XTX301, an investigational tumor-activated IL-12. The findings indicate a favorable tolerability profile compared to existing therapies, notably without any dose-limiting toxicities. This positions XTX301 as a potential game-changer in enhancing anti-tumor immunity.

Moreover, Xilio will present initial Phase 2 trial data for vilastobart (XTX101), an Fc-enhanced anti-CTLA-4 monoclonal antibody, in conjunction with atezolizumab (Tecentriq®), at the upcoming ASCO Gastrointestinal Cancers Symposium from January 23-25, 2025. This combination therapy holds promise for patients with metastatic microsatellite stable colorectal cancer, indicating new possibilities in treatment regimens.

Katarina Luptakova, M.D., Chief Medical Officer of Xilio, expressed optimism regarding the early data for both XTX301 and vilastobart, highlighting their potential impact on previously treatment-resistant cancers and eagerly anticipating the opportunity to share comprehensive results at the symposium.

In a strategic move to accelerate its research initiatives, Xilio has also finalized a private placement with Gilead Sciences for approximately $8.2 million. This transaction serves to bolster Xilio’s financial foundation, ensuring the continuation of operations and clinical trials through the third quarter of 2025, as the company remains steadfast in its mission to innovate cancer care through targeted therapies.

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