WALTHAM, Mass., April 03, 2026 (GLOBE NEWSWIRE) -- Xilio Therapeutics, Inc. (NASDAQ:XLO), a clinical-stage biotechnology company discovering and developing masked immuno-oncology therapies for people living with cancer, today announced that, effective April 1, 2026, the company granted non-qualified stock options to purchase 3,257 shares of its common stock to two new employees under Xilio Therapeutics' 2022 Inducement Stock Incentive Plan.

The stock options have an exercise price of $8.48 per share, which is equal to the closing price of the company's common stock on April 1, 2026. Each stock option has a ten-year term and will vest as to 25% of the shares underlying the stock option on the first anniversary following commencement of employment, and the remaining 75% of the shares underlying the stock option will vest in 36 equal monthly installments thereafter, subject to continued service with the company or any of its subsidiaries through each applicable vesting date.

The stock options are subject to the terms and conditions of Xilio Therapeutics' 2022 Inducement Stock Incentive Plan, as well as the terms and conditions of the stock option agreement covering the grant and were made as an inducement material to the individual entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).

About Xilio Therapeutics

Xilio Therapeutics is a clinical-stage biotechnology company discovering and developing masked immuno-oncology (I-O) therapies with the goal of significantly improving outcomes for people living with cancer without the systemic side effects of current I-O treatments. The company is leveraging its proprietary masking technology to advance a pipeline of novel, masked I-O molecules that are designed to optimize the therapeutic index by localizing anti-tumor activity within the tumor microenvironment. Learn more by visiting www.xiliotx.com and follow us on LinkedIn (Xilio Therapeutics, Inc.).

Investor Contact

Alex Lobo, Precision AQ

Alex.lobo@precisionaq.com

Media Contact

Josie Butler, 1AB

josie@1abmedia.com

Xilio Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)