9 Things to Know About the Pyxis Oncology (PYXS) IPO, Spinout of University of Chicago

Pyxis Oncology (NASDAQ: PYXS), the University of Chicago spinout founded around novel tumor biology, is making its public debut later this week. Here are 7 key things to know about the upcoming PYXS IPO.

1. Pyxis Oncology IPO Date - The preclinical stage biopharmaceutical company is due to go public this Friday, October 08. Pyxis Oncology will start trading under the ticker symbol “PYXS” on the Nasdaq stock exchange. Typically, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.

2. Pyxis Oncology IPO Pricing - PYXS is expected to price its IPO between $14.00 and $16.00.

3. Shares Offered - Pyxis Oncology is seeking to sell 8,340,000 of its common stock. The S-1 filing shows the number of outstanding shares after IPO offering would be 30,574,101 shares or 31,825,101 shares if the underwriters exercise in full.

4. IPO Valuation - Pyxis Oncology is seeking a valuation of between $428 million and $489.2 million.

5. PYXS IPO Raised Proceeds: At the midpoint of the pricing range, CING is looking to raise $125.1 million. The company plans to use the raised proceeds to advance PYX-201, PYX-202 and PYX 203 through IND-enabling studies and initiation of Phase 1 trials.

6. PYXS IPO Underwriters - BofA, Jefferies, Credit Suisse, William Blair, and LifeSci Capital are underwriters for the IPO.

7. PYXS Funding to Date - Pyxis Oncology has raised a total of $174 million. Earlier this year, the startup raised $152 million in Series B funding after previously raising $22 million via Series A round, including a $300,000 investment from the UChicago Startup Investment Program.

8. Partnership with Pfizer - In March 2021, Pyxis Oncology announced a partnership with Pfizer (NYSE: PFE) for the development and commercialization of two antibody-drug conjugate (ADC) candidates and a license to Pfizer’s ADC technology platform.

9. PYXS Financials - Pyxis Oncology recorded a net loss of $45 million for the first six months of 2021, compared to a $5.1 million loss reported for the first half of 2020. The company is yet to generate any revenue from product sales.

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