aibioXilio Therapeutics moves to Nasdaq Capital Market, gets 180 more days on $1.00 bid rule
Tickers XLO
Nasdaq approved the transfer from the Global Select Market effective October 6, 2025. Xilio now has until March 30, 2026 to regain compliance with the minimum bid price rule.
Key facts
- Company
- Xilio Therapeutics, Inc. (NASDAQ: XLO)
- News type
- Listings
- Primary source
- Xilio Therapeutics, Inc. 8-K (2025-10-03)
The transfer
Xilio Therapeutics, Inc. (Nasdaq: XLO) said in an 8-K dated October 3, 2025 that on October 2, 2025 the Listing Qualifications Department of Nasdaq approved moving its common stock from The Nasdaq Global Select Market to The Nasdaq Capital Market. The transfer took effect at the opening of business on October 6, 2025, and the shares keep trading as XLO.
The company says the Capital Market is a continuous trading market that operates in substantially the same manner as the Global Select Market, and that its companies must still meet financial requirements and Nasdaq's corporate governance standards. The filing is signed by Caroline Hensley, chief legal officer. Xilio is a Delaware corporation with offices in Waltham, Massachusetts.
The bid-price problem
The move is tied to a bid-price deficiency. On April 8, 2025, Nasdaq's staff told Xilio it had failed to maintain the $1.00 minimum bid price required for continued listing on the Global Select Market under Listing Rule 5450(a)(1). The company disclosed that notice earlier, and the October 8-K repeats it.
The transfer gave Xilio an additional 180 calendar days, until March 30, 2026, to regain compliance. To do that, the common stock must close at $1.00 or more for at least 10 consecutive business days during that period. The 8-K notes that the staff may use its discretion to extend that 10-day period under Listing Rule 5810(c)(3)(H). The filing does not say whether such an extension has been requested or granted.
The 8-K says the company is continuing to evaluate available options to regain compliance. It does not name any of those options, and it does not mention a reverse stock split, a financing or a change to the share count.
What the transfer does and does not do
The 8-K presents the transfer as a route to more time, not as a fix. The bid-price test itself does not change. The shares must still close at or above $1.00 for the stretch the rule sets, within the 180 days Nasdaq has granted.
The 8-K does not give a cash balance, a plan for the next financing, or any date by which the company expects the stock to recover.
The clinical programs
Xilio describes itself as a clinical-stage biotechnology company that builds tumor-activated, or masked, immuno-oncology therapies. Its most advanced candidate is vilastobart, a tumor-activated anti-CTLA-4 antibody. Vilastobart is tested with atezolizumab in a Phase 2 trial in microsatellite stable colorectal cancer, under a co-funded collaboration with F. Hoffmann-La Roche Ltd.
The company's 10-K for 2024 says its initial Phase 2 proof-of-concept data for that combination came in January 2025, and that it expected more Phase 2 data in the middle of 2025. That 10-K also says it plans to seek opportunities for partnering to expand development beyond the initial Phase 2 trial. The October 8-K gives no update on that data or on any partnering.
The second program is XTX301, a tumor-activated IL-12 therapy in a Phase 1 trial in advanced solid tumors. The company licensed XTX301 to Gilead Sciences, Inc. in the first quarter of 2024. XTX501, a masked PD-1/IL-2 bispecific, is at the preclinical stage.
What the listing means for investors
The move to the Capital Market buys time but leaves the bid-price requirement in place. The company's trial programs are early, and the one with the most data is a combination with atezolizumab, co-funded by Roche. The next date the company faces is March 30, 2026.