Xilio Therapeutics Prices $40M Underwritten Offering

Biotech firm raises funds to advance cancer drug pipeline and general operations.

Published on Feb. 12, 2026

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Xilio Therapeutics, a clinical-stage biotech company focused on developing masked immuno-oncology therapies, announced the pricing of an underwritten offering of pre-funded warrants to purchase 74,780,300 shares of common stock at $0.5349 per warrant. The offering is expected to raise approximately $40 million in gross proceeds, which Xilio plans to use to advance its product candidates and for general corporate purposes.

Why it matters

The financing will provide Xilio with additional capital to continue developing its pipeline of novel cancer treatments, which utilize the company's proprietary masking technology to localize anti-tumor activity within the tumor microenvironment. This approach aims to improve outcomes for cancer patients while minimizing systemic side effects.

The details

Each pre-funded warrant is exercisable for one share of Xilio's common stock at an exercise price of $0.0001 per share. The warrants will be immediately exercisable and can be exercised until fully exercised. The offering is expected to close on or around February 13, 2026, subject to customary closing conditions.

  • The offering is expected to close on or about February 13, 2026.

The players

Xilio Therapeutics, Inc.

A clinical-stage biotechnology company discovering and developing masked immuno-oncology therapies for people living with cancer.

Coastlands Capital

An existing investor in Xilio Therapeutics that led the financing round.

Gilead Sciences, Inc.

A biopharmaceutical company that participated in the financing round.

OrbiMed

An investment firm that participated in the financing round.

Perceptive Advisors

An investment management firm that participated in the financing round.

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What’s next

The offering is expected to close on or around February 13, 2026, subject to satisfaction of customary closing conditions.

The takeaway

This financing will provide Xilio Therapeutics with additional resources to advance its pipeline of novel cancer treatments that utilize the company's proprietary masking technology, with the goal of improving outcomes for cancer patients while minimizing systemic side effects.