🔴 Pyxis Oncology is trading 8.62% down in pre-market after pricing a $110 million offering

Pyxis Oncology is trading at $2.65, down 8.62% in pre-market after pricing a public offering expected to raise approximately $110 million.

• On September 30, 2026, Pyxis Oncology priced the offering, selling common shares or pre-funded warrants alongside warrants to buy additional shares. The $2.90 share-and-warrant package price matches the previous close but includes warrants.
• Share issuance and warrant overhang offer a clear dilution-related explanation for the drop. Proceeds are intended to fund MICVO clinical milestones, including its planned Phase 3 trial. The move follows the company’s September 29 announcement that it launched the offering.