🔴 PYXS is trading 8.4% down today despite announcing up to $114M private placement financing

PYXS is trading at $2.62 (8.4% down) today, following the company's announcement of a private placement expected to generate up to $114 million.

• Pyxis Oncology entered into definitive agreements to sell 19.6 million shares at $2.551 per share, plus warrants to purchase an equal number of shares at an exercise price of $3.289.
• The financing aims to advance its lead oncology candidate, MICVO, through key clinical milestones, extending the company's cash runway into the second quarter of 2027.
• The stock's decline comes after surging significantly last week, partly driven by index rebalancing and speculative interest in its oncology pipeline, with today's move potentially reflecting profit-taking and market reaction to the financing terms.