Pyxis Oncology stock falls on public offering announcement

Investing.com -- Pyxis Oncology Inc (NASDAQ: PYXS) shares dropped 3.5% in after-hours trading Tuesday after the company announced a registered public offering of common stock and warrants.

The clinical-stage biopharmaceutical company said it commenced an offering of common stock, or pre-funded warrants in lieu of common stock to certain investors, along with accompanying common warrants to purchase shares of common stock.

Leerink Partners, Guggenheim Securities and Wells Fargo Securities are acting as joint bookrunning managers for the offering. The company did not disclose the size or pricing terms of the offering.

Pyxis Oncology said it intends to use the net proceeds to advance its lead clinical program, micvotabart pelidotin, through key clinical milestones, including Headliner, its planned Phase 3 trial in second-line and beyond recurrent/metastatic head and neck squamous cell carcinoma, and for working capital and general corporate purposes.

The offering is subject to market and other conditions, and there is no assurance as to whether or when it may be completed.

Original Article

You May Also Be Interested In

• Pyxis Oncology terminates $150M ATM stock offering program
• SpaceX faces "an unprecedented set of AI and space" opportunities: TD Cowen
• S&P upgrades Wells Fargo to A- following risk management overhauls