Xilio Therapeutics, Inc. 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. The gross proceeds are expected to be approximately $40.0 million, with Coastlands Capital leading the financing. The offering is expected to close on February 13, 2026. Xilio intends to use the net proceeds to advance the development of its product candidates and for working capital needs. Leerink Partners is the sole bookrunner for the offering, made pursuant to an effective shelf registration statement on Form S-3.

Xilio Therapeutics is a clinical-stage biotechnology company developing masked immuno-oncology therapies for cancer patients. The company aims to improve outcomes without systemic side effects. The press release contains forward-looking statements regarding the offering and the use of proceeds, subject to important risks and uncertainties. Any forward-looking statements are based on current expectations and should not be relied upon as representing views at a later date. For more information, contact the investor or media representatives provided.

Read more at GlobeNewswire: Xilio Therapeutics Announces Pricing of Underwritten