Pyxis Oncology, Inc.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $162.2M
- Price
- $1.95
- % Change (Daily % change from the live per-ticker quote feed.)
- -3.23%
- Volume
- 433.2K
About
Pyxis Oncology, Inc. operates as a preclinical biopharmaceutical company focused on developing novel therapeutic approaches to combat various forms of cancer. Its investigational immune-oncology pipeline includes PYX-106, a fully human immunoglobulin G1 (IgG1) antibody designed to target siglec-15, which is being explored for its potential efficacy against thyroid cancer, head and neck squamous cell carcinoma, non-small cell lung cancer (NSCLC), and other solid tumors. Additionally, PYX-102 is an immune-therapeutic currently under investigation for the treatment of solid tumors. The company's portfolio also features a range of investigational antibody-drug conjugate (ADC) candidates: PYX-201, a novel ADC being developed for NSCLC, breast cancer, and other solid tumors; PYX-202, another novel ADC aimed at small cell lung cancer (SCLC), soft tissue sarcoma, and other solid tumors; and PYX-203, an ADC undergoing evaluation for acute myeloid leukemia and myeloid dysplastic syndrome. Pyxis Oncology was founded in 2018 and is based in Cambridge, Massachusetts.
Quick stats
Shares outstanding83.4M
Computed float36.4M
Float / shares43.6%
Cash runway (months)2.1
Key info
SectorHealthcare
IndustryBiotechnology
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001782223
AI Summary
AI-generated1/20
majormixedoffering
Pyxis Oncology Announces Closing of Up to $282.6 Million Public Offering
Pyxis Oncology closed its public offering on October 1, 2026, generating approximately $110.0 million in upfront gross proceeds from 36,047,919 shares at $2.90 plus pre-funded warrants.
Investors also received common warrants on 49,310,352 shares with a $3.50 exercise price (21% premium) that become exercisable only upon the OS data release for MICVO and stockholder approval of a charter amendment; full exercise would add $172.6 million, for a total of up to $282.6 million.
Proceeds fund MICVO through its planned Phase 3 Headliner trial in 2L+ R/M HNSCC and working capital; updated Phase 1/2 combination data with Merck's KEYTRUDA is expected in Q4 2026.
The structure is heavily dilutive -- warrant shares exceed the shares sold upfront -- though the milestone-linked design ties dilution to a survival-data catalyst.
Red flags
- substantial potential dilution: 49.3M warrant shares on top of 37.9M shares/pre-funded warrants sold
- warrant exercisability contingent on stockholder approval of charter amendment to increase authorized shares
- clinical-stage company with ongoing funding needs; release cites 'potential needs for additional funding'