GlobeNewswire·Jun 30, 2026, 7:30 AM ET

Pyxis Oncology Announces Up to $114 Million Private Placement Financing to Advance MICVO Through Key Clinical Milestones

Pyxis Oncology, Inc. entered a private placement agreement expected to generate approximately $50 million in gross proceeds upfront & an additional $64 million if accompanying warrants are exercised in full.
Financing led by BVF Partners L.P. with participation from GordonMD Global Investments, RTW Investments, & Coastlands Capital.
Proceeds will extend the company's cash runway into the second quarter of 2027 to support follow-up for 2L+ R/M HNSCC patients treated with MICVO at or below a dose cap.
The company expects updated Phase 1 monotherapy data for 2L+ R/M HNSCC in Fall 2026, including analysis of patients treated at 5.4 mg/kg IV Q3W.
Updated Phase 1/2 combination data for MICVO with pembrolizumab in first-line R/M HNSCC is expected in the fourth quarter of 2026.
Terms include the sale of 19,600,153 common stock shares at $2.551 per share & warrants to purchase an equal number of shares at an exercise price of $3.289 per share.
The private placement is expected to close on or about July 2, 2026, subject to customary closing conditions.
Wells Fargo Securities acted as the sole placement agent for the transaction.
MICVO received Fast Track Designation from the FDA for treating adult patients with R/M HNSCC who have progressed following platinum-based chemotherapy & anti-PD-(L)1 therapy.