Pyxis Oncology (NASDAQ: PYXS) has commenced a registered public offering of common stock, pre-funded warrants and accompanying common warrants to purchase additional shares. The clinical-stage biopharmaceutical company plans to use the net proceeds to support key clinical milestones for its lead drug candidate, micvotabart pelidotin (MICVO), and for general corporate purposes.
The financing is intended to support the planned Phase 3 Headliner trial of MICVO in patients with recurrent or metastatic head and neck squamous cell carcinoma.
The common warrants will be exercisable only if stockholders approve an increase in the number of authorized shares. The offering is subject to market conditions; its size and price have not yet been determined.
Leerink Partners, Guggenheim Securities and Wells Fargo Securities are managing the offering.