Xilio Therapeutics Raises $40M with 74.8M Pre-Funded Warrants at $0.5349
Xilio Therapeutics priced an underwritten offering of 74,780,300 pre-funded warrants at $0.5349 each, for gross proceeds of ~$40.0 million before discounts, expected to close by Feb. 13, 2026. Warrants exercisable immediately (exercise price $0.0001) to fund development of its immuno-oncology pipeline and general corporate purposes.
1. Offering Terms
Xilio Therapeutics offered 74,780,300 pre-funded warrants at $0.5349 per warrant, each exercisable for one share of common stock at $0.0001 exercise price. The warrants are exercisable immediately upon issuance and remain exercisable until fully exercised, with gross proceeds projected at $40.0 million before underwriting discounts and commissions.
2. Proceeds Use
Net proceeds from the offering will support the advancement of Xilio’s masked immuno-oncology therapy pipeline, providing funding for ongoing clinical development of candidate molecules designed to localize anti-tumor activity and improve therapeutic indices. Additional funds will cover working capital requirements and general corporate purposes.
3. Participation and Closing
The financing was led by Coastlands Capital and included participation from Gilead Sciences, OrbiMed, Perceptive Advisors and other institutional investors, with Leerink Partners as sole bookrunner. The offering is expected to close on or about February 13, 2026, subject to customary closing conditions.