Xilio Therapeutics Announces Pricing of Underwritten Offering

Core Viewpoint - Xilio Therapeutics, Inc. has announced a pre-funded warrant offering to raise approximately $40 million to support the development of its immuno-oncology therapies and for general corporate purposes [1][2]. Group 1: Offering Details - The offering consists of 74,780,300 pre-funded warrants priced at $0.5349 each, with an exercise price of $0.0001 per share [1]. - The pre-funded warrants are immediately exercisable and will remain valid until fully exercised [1]. - The offering is expected to close on or about February 13, 2026, pending customary closing conditions [1]. Group 2: Financial Aspects - Gross proceeds from the offering are anticipated to be around $40 million before deducting underwriting discounts and commissions [2]. - The proceeds will be utilized to advance product candidates and for working capital and other corporate needs [2]. Group 3: Investor Participation - The financing was led by Coastlands Capital, with participation from Gilead Sciences, Inc., OrbiMed, Perceptive Advisors, and other institutional investors [3]. - Leerink Partners is serving as the sole bookrunner for the offering [3]. Group 4: Company Overview - Xilio Therapeutics is focused on developing masked immuno-oncology therapies aimed at improving cancer treatment outcomes while minimizing systemic side effects [6]. - The company employs proprietary masking technology to create novel I-O molecules that target anti-tumor activity within the tumor microenvironment [6].