$XLO
Xilio Therapeutics Inc

2024 Q3 Form 10-Q Financial Statement

#000155837024011471 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $2.357M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.815M
YoY Change -15.7%
% of Gross Profit
Research & Development $11.22M
YoY Change -15.15%
% of Gross Profit
Depreciation & Amortization $445.0K
YoY Change -9.55%
% of Gross Profit
Operating Expenses $17.06M
YoY Change -15.19%
Operating Profit -$14.70M
YoY Change -26.9%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $779.0K
YoY Change 2.37%
Pretax Income -$13.93M
YoY Change -28.05%
Income Tax
% Of Pretax Income
Net Earnings -$13.93M
YoY Change -28.05%
Net Earnings / Revenue -590.79%
Basic Earnings Per Share -$0.24
Diluted Earnings Per Share -$0.24
COMMON SHARES
Basic Shares Outstanding 43.95M 36.91M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.95M
YoY Change -0.58%
Cash & Equivalents $74.90M
Short-Term Investments
Other Short-Term Assets $3.059M
YoY Change 0.56%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $78.01M
YoY Change -0.53%
LONG-TERM ASSETS
Property, Plant & Equipment $5.137M
YoY Change -24.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $92.00K
YoY Change -53.3%
Total Long-Term Assets $11.87M
YoY Change -14.85%
TOTAL ASSETS
Total Short-Term Assets $78.01M
Total Long-Term Assets $11.87M
Total Assets $89.87M
YoY Change -2.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.264M
YoY Change 33.76%
Accrued Expenses $9.737M
YoY Change 36.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.64M
YoY Change 137.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $17.82M
YoY Change 254414.29%
Total Long-Term Liabilities $17.82M
YoY Change 254414.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.64M
Total Long-Term Liabilities $17.82M
Total Liabilities $56.46M
YoY Change 125.99%
SHAREHOLDERS EQUITY
Retained Earnings -$356.6M
YoY Change 22.5%
Common Stock $4.000K
YoY Change 33.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.42M
YoY Change
Total Liabilities & Shareholders Equity $89.87M
YoY Change -2.69%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$13.93M
YoY Change -28.05%
Depreciation, Depletion And Amortization $445.0K
YoY Change -9.55%
Cash From Operating Activities $19.95M
YoY Change -220.39%
INVESTING ACTIVITIES
Capital Expenditures $21.00K
YoY Change -93.35%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$21.00K
YoY Change -93.35%
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
YoY Change -2120.46%
NET CHANGE
Cash From Operating Activities 19.95M
Cash From Investing Activities -21.00K
Cash From Financing Activities 20.04M
Net Change In Cash 39.98M
YoY Change -323.55%
FREE CASH FLOW
Cash From Operating Activities $19.95M
Capital Expenditures $21.00K
Free Cash Flow $19.93M
YoY Change -218.01%

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us-gaap Use Of Estimates
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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 condensed 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 condensed 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>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:bold;">Concentrations of Credit Risk </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company holds all cash and cash equivalents at accredited financial institutions. Bank accounts in the United States are generally insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. Substantially all of the Company’s cash and cash equivalents are FDIC insured, including funds held through an insured cash sweep program. The Company has not experienced any losses in its cash and cash equivalents and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. </p>
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11833000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11803000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6696000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5861000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5137000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5942000
us-gaap Depreciation
Depreciation
800000
us-gaap Depreciation
Depreciation
900000
CY2024Q2 xlo Accrued External Research And Development Current
AccruedExternalResearchAndDevelopmentCurrent
6471000
CY2023Q4 xlo Accrued External Research And Development Current
AccruedExternalResearchAndDevelopmentCurrent
4867000
CY2024Q2 xlo Accrued Personnel Expenses Current
AccruedPersonnelExpensesCurrent
2511000
CY2023Q4 xlo Accrued Personnel Expenses Current
AccruedPersonnelExpensesCurrent
4690000
CY2024Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
292000
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
332000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
845000
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
131000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
95000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9737000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10497000
us-gaap Restructuring Charges
RestructuringCharges
1000000.0
us-gaap Payments For Restructuring
PaymentsForRestructuring
700000
us-gaap Restructuring Charges
RestructuringCharges
978000
us-gaap Payments For Restructuring
PaymentsForRestructuring
686000
CY2024Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
292000
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
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2024Q2 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
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q2 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
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
31286737
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10160112
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1511000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1800000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3344000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3591000
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1825103
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.89
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1063
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.55
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1244143
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.07
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8035692
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.54
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M24D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
175000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3443607
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.46
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y6M
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
22000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.96
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8524544
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6061584
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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