Laurion details 4.8M-share Pyxis Oncology (PYXS) position

Rhea-AI Filing Summary

Laurion Capital Management LP and related individuals report a significant ownership stake in Pyxis Oncology, Inc. They disclose beneficial ownership of 4,796,479 shares of Pyxis Oncology common stock, representing 7.72% of the class as of 12/31/2025.

Laurion Capital, along with Benjamin Alexander Smith and Janaka Sheehan Maduraperuma, report shared voting and shared dispositive power over all of these shares and no sole power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Pyxis Oncology.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Pyxis Oncology, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

747324101

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 747324101

1

Names of Reporting Persons

Laurion Capital Management LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,796,479.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,796,479.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,796,479.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.72 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 747324101

1

Names of Reporting Persons

Benjamin Alexander Smith

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,796,479.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,796,479.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,796,479.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.72 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. 747324101

1

Names of Reporting Persons

Janaka Sheehan Maduraperuma

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,796,479.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,796,479.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,796,479.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.72 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Pyxis Oncology, Inc.
(b)	Address of issuer's principal executive offices: 321 Harrison Avenue, Boston, UNITED STATES 02118
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Laurion Capital Management LP ("Laurion Capital"), a Delaware limited partnership, and the investment adviser to certain funds and accounts (the "Laurion Funds"), with respect to the shares of Common Stock (as defined in Item 2(d) below) directly held by the Laurion Funds; (ii) Mr. Benjamin Alexander Smith ("Mr. Smith"), the co-managing member of Laurion Capital GP LLC, the general partner of Laurion Capital, with respect to the shares of Common Stock directly held by the Laurion Funds. (iii) Mr. Janaka Sheehan Maduraperuma ("Mr. Maduraperuma"), the co-managing member of Laurion Capital GP LLC, the general partner of Laurion Capital, with respect to the shares of Common Stock directly held by the Laurion Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the forgoing persons or any Reporting Person is, for thepurposes of Section 13 of the Act, the beneficial owner of the shares of Common Stock reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 360 Madison Avenue, Suite 1900, New York, NY 10017.
(c)	Citizenship: Laurion Capital is a Delaware limited partnership. Mr. Smith is a citizen of the United States. Mr. Maduraperuma is a citizen of the United Kingdom.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 747324101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Laurion Capital Management LP - 4,796,479 Benjamin Alexander Smith - 4,796,479 Janaka Sheehan Maduraperuma - 4,796,479
(b)	Percent of class: 7.72 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Laurion Capital Management LP - 0 Benjamin Alexander Smith - 0 Janaka Sheehan Maduraperuma - 0
	(ii) Shared power to vote or to direct the vote: Laurion Capital Management LP - 4,796,479 Benjamin Alexander Smith - 4,796,479 Janaka Sheehan Maduraperuma - 4,796,479
	(iii) Sole power to dispose or to direct the disposition of: Laurion Capital Management LP - 0 Benjamin Alexander Smith - 0 Janaka Sheehan Maduraperuma - 0
	(iv) Shared power to dispose or to direct the disposition of: Laurion Capital Management LP - 4,796,479 Benjamin Alexander Smith - 4,796,479 Janaka Sheehan Maduraperuma - 4,796,479
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2. The Laurion Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock reported herein. Laurion Capital Master Fund Ltd., a Laurion Fund, has the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of more than 5% of the shares of Common Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Laurion Capital Management LP

Signature:	Jason Riesel
Name/Title:	Jason Riesel, General Counsel & CCO
Date:	02/09/2026

Benjamin Alexander Smith

Signature:	Benjamin Alexander Smith
Name/Title:	Benjamin Alexander Smith
Date:	02/09/2026

Janaka Sheehan Maduraperuma

Signature:	Janaka Sheehan Maduraperuma
Name/Title:	Janaka Sheehan Maduraperuma
Date:	02/09/2026

FAQ

What ownership stake in Pyxis Oncology (PYXS) does Laurion report in this Schedule 13G/A?

Laurion Capital Management LP and related reporting persons disclose beneficial ownership of 4,796,479 shares of Pyxis Oncology common stock, representing 7.72% of the outstanding class as of December 31, 2025, giving them a notable but minority institutional stake in the company.

Who are the reporting persons in the Pyxis Oncology (PYXS) Schedule 13G/A Amendment No. 2?

The reporting persons are Laurion Capital Management LP, Benjamin Alexander Smith, and Janaka Sheehan Maduraperuma. Laurion is the investment adviser to certain funds, while Smith and Maduraperuma are co-managing members of Laurion Capital GP LLC, Laurion Capital’s general partner.

How much voting and dispositive power over Pyxis Oncology (PYXS) shares do the Laurion reporting persons have?

Each reporting person reports zero sole voting and dispositive power, and shared voting and shared dispositive power over 4,796,479 Pyxis Oncology common shares. This means decisions to vote or dispose of these shares are exercised jointly, not individually, across the reporting structure.

Which entities ultimately benefit from the Pyxis Oncology (PYXS) shares held by Laurion?

The filing states that the Laurion Funds have the right to receive dividends and sale proceeds from the reported shares. Laurion Capital Master Fund Ltd., one such Laurion Fund, has rights to dividends or sale proceeds relating to more than 5% of the Pyxis Oncology common stock.

What does the Laurion Schedule 13G/A say about intentions to influence control of Pyxis Oncology (PYXS)?

The certification states the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of changing or influencing control of Pyxis Oncology, nor in connection with any transaction having that control-related purpose or effect.

When did the ownership level triggering this Pyxis Oncology (PYXS) Schedule 13G/A arise?

The reported ownership position relates to an event dated December 31, 2025. As of that date, the reporting persons collectively beneficially owned 4,796,479 shares of Pyxis Oncology common stock, equal to 7.72% of the company’s outstanding common stock class.