Here are the 424B prospectus supplements from Pyxis Oncology, Inc. (PYXS) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow PYXS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PYXS filings page.
Pyxis Oncology, Inc. is offering 36,047,919 common shares, pre-funded warrants for 1,883,121 shares, and common warrants for 49,310,352 shares. Each common share or pre-funded warrant is paired with a warrant for 1.3 shares, at package prices of $2.900 and $2.899, respectively. Estimated net proceeds of approximately $102.8 million are intended for MICVO clinical milestones, including a planned Phase 3 trial, working capital and general corporate purposes.
The common warrants have a $3.50 exercise price and cannot be exercised until stockholders approve an authorized-share charter amendment and it becomes effective. PYXS expects existing cash plus proceeds to fund operating expenses and capital needs into the first half of 2028, based on assumptions; without warrant exercise, offering proceeds and existing cash will not fully fund the planned pivotal Phase 3 trial. Phase 1 data through August 18, 2026, in the 5.4 mg/kg dose-cap efficacy group (N=33), showed a 36% confirmed objective response rate (12/33), 94% disease control rate (31/33), median progression-free survival of 6.2 months and 79% 12-month overall survival probability. Grade 3-or-higher treatment-related adverse events occurred in 19 of 35 patients (54.3%); there were no treatment-related deaths.
Pyxis Oncology is conducting a preliminary primary offering of common stock or, for investors who choose them, pre-funded warrants, each paired with a common warrant. It intends to use net proceeds for MICVO clinical milestones, including a planned Phase 3 trial in second-line and later recurrent/metastatic head and neck squamous cell carcinoma, plus working capital and general corporate purposes. Pre-funded warrants have a $0.001-per-share exercise price.
Common warrants cannot be exercised until stockholders approve an increase in authorized common shares and the charter amendment becomes effective; Pyxis says they may have no value if approval is not obtained. The company currently expects existing cash and offering proceeds to fund operating expenses and capital expenditures into the first half of 2028, but says those resources would not fully fund its planned Phase 3 trial if common warrants are not exercised.
Updated Phase 1 monotherapy data as of August 18, 2026, showed a 36% confirmed objective response rate (12 of 33), 94% disease control (31 of 33) and 6.2-month median progression-free survival in the 5.4 mg/kg dose-cap efficacy-evaluable group. In the 35-patient safety group, 19 patients (54.3%) had grade 3 or higher treatment-related adverse events; no treatment-related deaths or new safety signals were observed.
Pyxis Oncology, Inc. terminated its continuous at-the-market offering effective upon filing and reduced the maximum aggregate gross sales price available under the prospectus supplement from $150,000,000 to $0. The company stated that it had sold no shares under the Sales Agreement as of September 29, 2026, and that the reduction creates corresponding availability under its Form S-3 registration statement for other offerings. No further shares may be offered or sold under this prospectus supplement.
Pyxis Oncology, Inc. (PYXS) filed a resale prospectus covering up to 39,200,306 shares of common stock to be sold from time to time by existing investors. This includes 19,600,153 Initial Shares issued in a July 2, 2026 private placement and 19,600,153 Common Warrant Shares issuable upon exercise of accompanying warrants.
Pyxis will not receive proceeds from sales by the selling stockholders, but could receive up to $64.0 million in gross proceeds if all warrants are exercised for cash; the warrants are exercisable at $3.289 per share and may be exercised cashlessly, in which case Pyxis receives no proceeds. Common stock outstanding was 83,408,050 shares as of August 19, 2026, and the stock last traded at $3.37.
The July 2026 private placement raised approximately $50 million at $2.551 per share. Pyxis plans to use any cash warrant-exercise proceeds to advance its lead ADC candidate MICVO in recurrent/metastatic head and neck squamous cell carcinoma and for working capital and general corporate purposes. The company is an emerging growth company and smaller reporting company, and its most recent audited financials include an auditor’s explanatory paragraph about substantial doubt regarding its ability to continue as a going concern.