Pyxis Oncology, Inc. entered into a securities purchase agreement on June 30, 2026, for a private placement with institutional and accredited investors. The company will issue 19,600,153 shares of common stock at $2.551 per share and common warrants to purchase an equal number of shares at an exercise price of $3.289. The transaction is expected to generate approximately $50.0 million in gross upfront proceeds, with an additional $64.0 million possible upon warrant exercise. The proceeds are intended to extend the company's cash runway into the second quarter of 2027 and support the MICVO clinical program. Wells Fargo Securities, LLC is acting as the placement agent. Pyxis Oncology, Inc. is a biotechnology company developing oncology therapeutics.
