Pyxis Oncology, a preclinical biotech developing antibody therapies for solid and hematologic tumors, raised $168 million by offering 10.5 million shares at $16, the high end of the range of $14 to $16. The company offered 1.0 million more shares than anticipated. It originally planned to offer 8.3 million shares before increasing the offering to 9.5 million shares on Thursday.
Pyxis is focused on developing next-generation therapies to target difficult-to-treat cancers, with a broad portfolio of novel antibody drug conjugate (ADC) candidates and monoclonal antibody (mAb) preclinical discovery programs. It is developing its ADC candidates and mAb preclinical discovery programs for difficult-to-treat solid and hematologic tumors. Pyxis anticipates submitting INDs for two of its ADC candidates by mid-2022, and another candidate by 2023.
Pyxis Oncology plans to list on the Nasdaq under the symbol PYXS. BofA Securities, Jefferies, Credit Suisse, and William Blair acted as joint bookrunners on the deal.
