Xilio Therapeutics, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
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3. Fair Value Measurements
The Company measures the following liabilities at fair value on a recurring basis:
| Quoted | ||||||||
|---|---|---|---|---|---|---|---|---|
| Prices in | ||||||||
| Active · Significant | ||||||||
| Markets for · Other · Significant | ||||||||
| Identical · Observable · Unobservable | ||||||||
| Assets · Inputs · Inputs | ||||||||
| Level 1 · Level 2 · Level 3 · Total | ||||||||
| Financial liabilities: | ||||||||
| Series A warrant to purchase common stock | $ | — | $ | — | $ | 35,150 | $ | 35,150 |
| Series B warrant to purchase common stock | — | — | 11,070 | 11,070 | ||||
| Series C warrant to purchase common stock | — | — | 7,710 | 7,710 | ||||
| Total financial liabilities | $ | — | $ | — | $ | 53,930 | $ | 53,930 |
The fair value of the common stock warrant liabilities, which are described in more detail in Note 8, are calculated utilizing a Black-Scholes option pricing model for the Series A warrants and a Monte Carlo simulation model for the Series B warrants and the Series C warrants. The Black-Scholes option pricing model and the Monte Carlo simulation model both require the use of assumptions, certain of which are not observable in the market, which represent Level 3 measurements within the fair value hierarchy. The Black-Scholes pricing model and the Monte Carlo simulation model assumptions include the warrant exercise price, the expected life of the warrant, the current price of the Company’s common stock, expected volatility, the risk-free interest rate for the expected life of the warrant and expected dividend yield. The Monte Carlo simulation assumptions also include the potential impacts of the warrant strike price reset features.
The inputs used in the fair market value of the Company’s common stock warrants liabilities as of the issuance date and September 30, 2025 were the following:
| June 5, 2025 · September 30, | |||||||
|---|---|---|---|---|---|---|---|
| (issuance date) · 2025 | |||||||
| Closing price of common stock | $ | 0.68 | $ | 0.84 | |||
| Warrant exercise price | $ | 0.75 | $ | 0.75 | |||
| Expected volatility | 70 | % | 70 | % | |||
| Risk free interest rate | 3.91 | % | 3.67 | % | |||
| Expected dividend yield | — | — | |||||
| Expected term (in years) | 0.57 - 5.00 | 0.17 - 4.68 | |||||
The following table summarizes the changes in the fair market value of the Company’s common stock warrant liabilities, which are classified within the Level 3 fair value hierarchy:
| financial | ||||||||
|---|---|---|---|---|---|---|---|---|
| Series A · Series B · Series C · liabilities | ||||||||
| Balance at December 31, 2024 | $ | — | $ | — | $ | — | $ | — |
| Initial fair value of common stock warrant liabilities | 26,840 | 6,600 | 5,060 | 38,500 | ||||
| Change in fair value of common stock warrant liabilities | 8,310 | 4,470 | 2,650 | 15,430 | ||||
| Balance at September 30, 2025 | $ | 35,150 | $ | 11,070 | $ | 7,710 | $ | 53,930 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.