2026-02-11, 7:37:22 p.m.
WALTHAM, Mass. — February 12, 2026 — Leads & Copy —
Xilio Therapeutics, Inc. (Nasdaq: XLO) announced the pricing of an underwritten offering of pre-funded warrants to purchase 74,780,300 shares of common stock at $0.5349 per pre-funded warrant.
Each pre-funded warrant is exercisable for one share of common stock at an exercise price of $0.0001 per share. The warrants can be exercised immediately and will be exercisable until all are exercised in full.
The offering is expected to close around February 13, 2026, pending standard closing conditions. Xilio is offering all of the pre-funded warrants.
Gross proceeds are expected to be approximately $40.0 million before deducting underwriting discounts, commissions, and offering expenses. The pre-funded warrants may be exercised for cash or on a net exercise or “cashless” basis.
Xilio plans to use the net proceeds to advance the development of its product candidates, for working capital, and for other general corporate purposes.
Existing investor Coastlands Capital led the financing, with participation from Gilead Sciences, Inc., OrbiMed, Perceptive Advisors, and other new and existing institutional investors.
Leerink Partners is the sole bookrunner for the offering.
The offering is being made under an effective shelf registration statement on Form S-3 (File No. 333-285703), as amended, initially filed with the SEC on March 11, 2025, and declared effective on May 8, 2025. The final prospectus supplement will be filed with the SEC and can be obtained by contacting Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com.
Xilio Therapeutics is a clinical-stage biotechnology company focused on discovering and developing masked immuno-oncology (I-O) therapies to improve outcomes for cancer patients without the systemic side effects of current I-O treatments. The company is using its masking technology to advance a pipeline of masked I-O molecules designed to localize anti-tumor activity within the tumor microenvironment.
Source: Xilio Therapeutics, Inc.
