Pyxis Oncology drops on $110 million stock-and-warrants deal
PYXS•Pyxis Oncology shares fell 10.3% before the bell after the company priced an offering of about 39.7 million shares and pre-funded warrants at $2.90, for $110 million in gross proceeds.
1. Offering details
Pyxis Oncology also sold warrants to purchase about 49.3 million shares at an exercise price of $3.50, which would bring in an additional $172.6 million in gross proceeds if fully exercised. The company plans to use net proceeds to advance its lead candidate, micvotabart pelidotin, and for working capital and general purposes.
