Pyxis Oncology prices public offering expected to raise ~$110 million

USA-based Pyxis Oncology (Nasdaq: PYXS) announced the pricing of its registered public offering, which is expected to yield approximately $110 million in gross proceeds before expenses. The company’s stock fell 25% to $2.17 on the news.

The offering includes 36,047,919 shares of common stock, or pre-funded warrants to purchase common stock, and accompanying common warrants to purchase an additional 49,310,352 shares of common stock. The combined price for each share of common stock and accompanying warrant is $2.90, and for each pre-funded warrant and accompanying warrant is $2.899.