Pyxis Oncology terminates $150M ATM stock offering program

Pyxis Oncology (NASDAQ: PYXS) has terminated a continuous at-the-market stock offering program that had been set up to raise up to $150 million, according to a filing with the Securities and Exchange Commission.

The company had entered into a Sales Agreement with Leerink Partners LLC on November 26, 2025, under which it could sell shares of common stock through at-the-market transactions. As of the termination date, no shares had been sold under the agreement.

The termination reduces the maximum aggregate gross sales price under the prospectus supplement from $150 million to $0, freeing up corresponding capacity under the company's Form S-3 registration statement for potential future offerings.

The Sales Agreement with Leerink Partners remains in effect. Pyxis Oncology stated it will not sell shares under the agreement unless a new prospectus supplement is filed with the SEC.

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