Pyxis Oncology raised $114 million by selling 19.6 million shares at $2.551 and warrants at $3.289. Upfront proceeds extend cash runway into the second quarter of 2027 and fund additional follow-up for MICVO, with Phase 1 monotherapy data due fall 2026 and Phase 1/2 combo results in Q4 2026.
Pyxis Oncology entered securities purchase agreements to raise approximately $50 million upfront through the sale of 19,600,153 common shares at $2.551 per share, with warrants for an equal number of shares exercisable at $3.289, potentially adding $64 million if fully exercised.
The upfront proceeds are expected to extend the company’s cash runway into the second quarter of 2027, supporting extended patient follow-up in the MICVO expansion trial and strengthening the balance sheet for upcoming development milestones.
Pyxis Oncology now plans to report updated Phase 1 monotherapy data in fall 2026, including analyses of dose cap impacts on safety and efficacy, and to release Phase 1/2 combination data with pembrolizumab in the fourth quarter of 2026.
