Pyxis Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Pyxis Oncology (Nasdaq: PYXS), a clinical-stage company focused on antibody-drug conjugate therapeutics, has granted stock options to seven new employees under its 2022 Inducement Plan. The grants total 382,518 shares, with 261,268 shares vesting over four years and 121,250 shares vesting on December 31, 2025.

The stock options have a ten-year term and an exercise price of $2.22 per share, matching Pyxis Oncology's closing stock price on September 30, 2025. These grants were made as employment inducements in compliance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Attraction of new talent with equity-based compensation
• Structured vesting schedule promotes employee retention

Negative

• Potential dilution of existing shareholders from new stock options

BOSTON, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Pyxis Oncology, Inc. (Nasdaq: PYXS), a clinical-stage company developing next-generation antibody-drug conjugate (‘ADC’) therapeutics for difficult-to-treat cancers, reported today that Pyxis Oncology’s Compensation Committee of the Board of Directors granted stock options to purchase an aggregate of 382,518 shares of Pyxis Oncology’s common stock to seven newly hired employees. The awards were granted under the Pyxis Oncology, Inc. 2022 Inducement Plan (the ‘Plan’) with a grant date of September 30, 2025, as an inducement material to the new employee entering employment with Pyxis Oncology, in accordance with Nasdaq Listing Rule 5635(c)(4).

An aggregate of 261,268 stock options vest over four years, with 25% vesting on the first anniversary of the vesting commencement date for each employee and the remaining shares vesting monthly over the 36-month period thereafter, subject to continuous service (as defined in the Plan) with the Company through the applicable vesting dates. An aggregate of 121,250 stock option vest in full on December 31, 2025, subject to the recipient’s continuous service (as defined in the Plan) through such date. The stock options have a ten-year term and an exercise price of $2.22, the closing price of Pyxis Oncology’s common stock as reported by Nasdaq on September 30, 2025.

Pyxis Oncology is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).

About Pyxis Oncology, Inc.
Pyxis Oncology, Inc. is a clinical stage company focused on defeating difficult-to-treat cancers. The Company is efficiently building therapeutics that hold the potential for monotherapy and combination indications. Its lead candidate, micvotabart pelidotin (MICVO, formerly PYX-201), has been evaluated in ongoing Phase 1 clinical studies in multiple types of solid tumors with a go-forward development focus on treating patients with recurrent and metastatic head and neck squamous cell carcinoma (R/M HNSCC) based on the strength of the HNSCC signal that emerged. Additionally, the Company initiated a Phase 1/2 combination study of MICVO and Merck’s anti-PD-1 therapy, KEYTRUDA^® (pembrolizumab), in patients with R/M HNSCC and other advanced solid tumors.

To learn more, visit www.pyxisoncology.com or follow us on X (formerly known as Twitter) and LinkedIn.

Pyxis Oncology Contact
Jitu Wadhane
Principal Financial and Accounting Officer
IR@pyxisoncology.com

FAQ

How many stock options did Pyxis Oncology (PYXS) grant to new employees in September 2025?

Pyxis Oncology granted stock options to purchase 382,518 shares to seven newly hired employees.

What is the exercise price for PYXS stock options granted on September 30, 2025?

The stock options have an exercise price of $2.22, which was Pyxis Oncology's closing stock price on September 30, 2025.

What is the vesting schedule for Pyxis Oncology's September 2025 stock option grants?

261,268 options vest over four years (25% after year one, remaining monthly over 36 months), while 121,250 options vest fully on December 31, 2025.

Why did Pyxis Oncology (PYXS) issue these stock options?

The stock options were granted as inducement awards to attract new employees, in accordance with Nasdaq Listing Rule 5635(c)(4).