Xilio sheds over fifth in value to extend losses to fourth straight session
Dec. 07, 2021 3:43 PM ETXilio Therapeutics, Inc. (XLO)By: Dulan Lokuwithana, SA News Editor
- Recording the fourth intra-day decline in a row, the shares of the recently IPO’ed biotech company Xilio Therapeutics (XLO -22.1%) remain at the lowest level since the company’s public debut about one and a half months ago. Approximately 335.0K shares have changed hands so far, nearly double the 65-day average of ~172.3K shares.
- Waltham, Massachusetts-based Xilio (NASDAQ:XLO) made its market debut in mid-October, offering ~7.4M shares for net proceeds of $117.4M. The funding was intended for further clinical advancement of its two leading assets XTX202 and XTX101, the company said at the time.
- Despite achieving favorable ratings from the Wall Street, the stock has lost ~44.1% over the past 30-day period.
- While Xilio (XLO) has demonstrated “intriguing results in preclinical studies,” it is unlikely to report Phase 1 safety data before 2022, Seeking Alpha contributor, Donovan Jones, argues with a Neutral rating on the stock.