Pyxis Oncology completed an underwritten public offering on October 1, 2026, raising approximately $102.8 million in net proceeds after deducting underwriting discounts and estimated expenses. The company issued 36,047,919 shares of common stock and pre-funded warrants for 1,883,121 additional shares, each accompanied by common warrants to purchase up to 49,310,352 shares at an exercise price of $3.50. The offering was priced at $2.90 per share unit and $2.899 per pre-funded warrant unit. Proceeds will fund the Phase 3 Headliner trial for micvotabart pelidotin (MICVO) in second-line head and neck squamous cell carcinoma, extending the cash runway into the first half of 2028. The company must obtain stockholder approval to increase authorized shares before the warrants become exercisable. Pyxis Oncology is a clinical-stage biotechnology company developing targeted therapies for cancer.
