$XLO
Xilio Therapeutics Inc

2024 Q2 Form 10-Q Financial Statement

#000155837024008068 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $2.357M $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.815M $6.139M
YoY Change -15.7% -16.98%
% of Gross Profit
Research & Development $11.22M $10.40M
YoY Change -15.15% -35.53%
% of Gross Profit
Depreciation & Amortization $445.0K $443.0K
YoY Change -9.55% -11.22%
% of Gross Profit
Operating Expenses $17.06M $17.49M
YoY Change -15.19% -25.67%
Operating Profit -$14.70M -$17.49M
YoY Change -26.9% -25.67%
Interest Expense -$100.0K
YoY Change -50.0%
% of Operating Profit
Other Income/Expense, Net $779.0K $284.0K
YoY Change 2.37% -67.73%
Pretax Income -$13.93M -$17.20M
YoY Change -28.05% -24.04%
Income Tax
% Of Pretax Income
Net Earnings -$13.93M -$17.20M
YoY Change -28.05% -24.05%
Net Earnings / Revenue -590.79%
Basic Earnings Per Share -$0.24 -$0.62
Diluted Earnings Per Share -$0.24 -$0.62
COMMON SHARES
Basic Shares Outstanding 36.91M 34.47M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.95M $33.98M
YoY Change -0.58% -63.57%
Cash & Equivalents $74.90M $34.00M
Short-Term Investments
Other Short-Term Assets $3.059M $5.205M
YoY Change 0.56% 40.49%
Inventory
Prepaid Expenses
Receivables $30.00M
Other Receivables $0.00
Total Short-Term Assets $78.01M $69.19M
YoY Change -0.53% -28.66%
LONG-TERM ASSETS
Property, Plant & Equipment $5.137M $5.542M
YoY Change -24.43% -23.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $92.00K $121.0K
YoY Change -53.3% -47.84%
Total Long-Term Assets $11.87M $13.42M
YoY Change -14.85% -7.61%
TOTAL ASSETS
Total Short-Term Assets $78.01M $69.19M
Total Long-Term Assets $11.87M $13.42M
Total Assets $89.87M $82.61M
YoY Change -2.69% -25.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.264M $746.0K
YoY Change 33.76% -62.94%
Accrued Expenses $9.737M $8.002M
YoY Change 36.37% 23.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $38.64M $31.58M
YoY Change 137.16% 95.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $17.82M $25.26M
YoY Change 254414.29% 97061.54%
Total Long-Term Liabilities $17.82M $25.26M
YoY Change 254414.29% 97061.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.64M $31.58M
Total Long-Term Liabilities $17.82M $25.26M
Total Liabilities $56.46M $56.84M
YoY Change 125.99% 112.8%
SHAREHOLDERS EQUITY
Retained Earnings -$356.6M -$342.7M
YoY Change 22.5% 26.11%
Common Stock $4.000K $3.000K
YoY Change 33.33% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.42M $25.77M
YoY Change
Total Liabilities & Shareholders Equity $89.87M $82.61M
YoY Change -2.69% -25.91%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$13.93M -$17.20M
YoY Change -28.05% -24.05%
Depreciation, Depletion And Amortization $445.0K $443.0K
YoY Change -9.55% -11.22%
Cash From Operating Activities $19.95M -$10.50M
YoY Change -220.39% -58.41%
INVESTING ACTIVITIES
Capital Expenditures $21.00K $0.00
YoY Change -93.35% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$21.00K $0.00
YoY Change -93.35% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.04M 954.0K
YoY Change -2120.46% -156.52%
NET CHANGE
Cash From Operating Activities 19.95M -10.50M
Cash From Investing Activities -21.00K 0.000
Cash From Financing Activities 20.04M 954.0K
Net Change In Cash 39.98M -9.548M
YoY Change -323.55% -64.78%
FREE CASH FLOW
Cash From Operating Activities $19.95M -$10.50M
Capital Expenditures $21.00K $0.00
Free Cash Flow $19.93M -$10.50M
YoY Change -218.01% -58.69%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:12pt;text-align:justify;margin:0pt;">The preparation of financial statements in accordance with GAAP requires management to make estimates and judgments that may affect the reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the related reporting of expenses during the reporting period. Management considers many factors in selecting appropriate financial accounting policies and controls and in developing the estimates and assumptions that are used in the preparation of these consolidated financial statements. Factors that may affect estimates include expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. Significant estimates of accounting reflected in these consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued expenses, the valuation of stock-based compensation, including stock options and restricted common stock, useful life of long-lived assets and income taxes. Actual results could differ from those estimates.</p>
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CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11803000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6282000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5861000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5542000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5942000
CY2024Q1 us-gaap Depreciation
Depreciation
400000
CY2023Q1 us-gaap Depreciation
Depreciation
500000
CY2024Q1 xlo Accrued External Research And Development Current
AccruedExternalResearchAndDevelopmentCurrent
4715000
CY2023Q4 xlo Accrued External Research And Development Current
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4867000
CY2024Q1 xlo Accrued Personnel Expenses Current
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1356000
CY2023Q4 xlo Accrued Personnel Expenses Current
AccruedPersonnelExpensesCurrent
4690000
CY2024Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
948000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
874000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
845000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
109000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
95000
CY2024Q1 us-gaap Accrued Liabilities Current
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8002000
CY2023Q4 us-gaap Accrued Liabilities Current
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10497000
CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
900000
CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
948000
CY2024Q1 us-gaap Restructuring Reserve Current
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948000
CY2019Q3 xlo Lessee Operating Lease Area Leased
LesseeOperatingLeaseAreaLeased
27830
CY2019Q3 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
true
CY2019Q3 xlo Lessee Operating Lease Extended Lease Term
LesseeOperatingLeaseExtendedLeaseTerm
P5Y
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11335407
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10160112
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1833000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1791000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7455795
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.52
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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626970
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.55
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
498114
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.72
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7584651
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.97
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M24D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
314000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3049352
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.68
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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P7Y
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
13000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.41
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.95
CY2024Q1 xlo Number Of Additional Private Placements
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3
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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false
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8117823
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6189829

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