Xilio Therapeutics initiated with a Buy at Chardan

Chardan analyst Matthew Barcus initiated coverage of Xilio Therapeutics with a Buy rating and $7 price target. Xilio is a biotechnology company developing next-generation immunooncology therapies for people living with cancer using their proprietary geographically precise solutions platform for tumor-activated control and avoidance of systemic toxicity, Barcus tells investors in a research note. The analyst sees "strong potential" with the company’s two lead cytokine programs XTX202 and XTX301. He models Xilio’s assets achieving $320M in projected risk-adjusted 2030 sales. The company is well positioned to become a leader in the field of immuno-oncology, contends Barcus.