Xilio Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Xilio Therapeutics (Nasdaq: XLO), a clinical-stage biotechnology company focused on tumor-activated immuno-oncology therapies, has announced new employee stock option grants.
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Xilio Therapeutics (Nasdaq: XLO), a clinical-stage biotechnology company focused on tumor-activated immuno-oncology therapies, has announced new employee stock option grants. The company granted non-qualified stock options to three new employees to purchase a total of 22,900 shares of common stock, effective April 1, 2025.
The stock options were issued under Xilio's 2022 Inducement Stock Incentive Plan with an exercise price of $0.7244 per share, matching the closing price on March 31, 2025. The options have a ten-year term and follow a vesting schedule of 25% after the first year, with the remaining 75% vesting in 36 monthly installments, contingent on continued employment.
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WALTHAM, Mass., April 04, 2025 (GLOBE NEWSWIRE) -- Xilio Therapeutics, Inc. (Nasdaq: XLO), a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology therapies for people living with cancer, today announced that, effective April 1, 2025, the company granted non-qualified stock options to purchase an aggregate of 22,900 shares of its common stock to three new employees under Xilio Therapeutics’ 2022 Inducement Stock Incentive Plan.
The stock options have an exercise price of
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 grants and were made as an inducement material to each 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 tumor-activated, or 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 platform to advance a pipeline of novel, tumor-activated 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.).
This press release contains hyperlinks to information that is not deemed to be incorporated by reference in this press release.
Investor and Media Contact:
Scott Young
Vice President, Investor Relations and Corporate Communications
investors@xiliotx.com
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