Preclinical oncology company Pyxis Oncology, Inc. (Nasdaq: PYXS) started publicly trading on the Nasdaq Global Select Market today under the symbol “PYXS”. The firm’s initial public offering is looking to raise US$168.0 million and is expected to close on October 13, 2021.
The offering will be conducted through the issuance of 10.5 million common shares selling at US$17.00 per share, which is higher than the previously announced range of US$14.00 to US$16.00. The number of shares is also an adjustment from the company’s previous plan to issue 9.5 million shares, which in itself is also an upsize from the original 8.3 million shares.
The company granted the underwriters a 30-day over-allotment option to purchase additional 1.575 million common shares at the same IPO price. BofA Securities, Jefferies, Credit Suisse, and William Blair are all acting as joint bookrunners for the said offering.
The Massachussets-based biotech firm is developing product candidates to directly kill tumor cells, as well as the cancer pathology that enables its uncontrollable proliferation and immune evasion. One of its antibody-drug conjugate candidates, PYX-201, has been licensed by Pfizer (NYSE: PFE) and is designed to target a potential tumor growth marker EDB.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.