WALTHAM, Mass., Oct. 02, 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 October 1, 2026, the company granted non-qualified stock options to purchase an aggregate of 100,895 shares of its common stock to two new employees under Xilio Therapeutics’ Third Amended and Restated 2022 Inducement Stock Incentive Plan (the 2022 Inducement Stock Incentive Plan). Additionally, the company granted a non-qualified stock option to purchase 105,000 shares of its common stock under the 2022 Inducement Stock Incentive Plan to the company’s newly appointed Chief Medical Officer, Yariv Houvras, M.D., Ph.D.

The stock options have an exercise price of $8.91 per share, which is equal to the closing price of the company’s common stock on October 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 the applicable employee’s commencement of employment, and the remaining 75% of the shares underlying the stock option will vest in 36 equal monthly installments thereafter, subject to such employee’s 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 the 2022 Inducement Stock Incentive Plan, as well as the terms and conditions of the stock option agreements covering the grants and were made as an inducement material to the applicable employee 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.).

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