Latham Advises on Pyxis Oncology’s Up to US$282.6 Million Public Offering

Pyxis Oncology, Inc. (Nasdaq: PYXS), a clinical-stage company developing next-generation therapeutics for difficult-to-treat cancers, has announced the pricing of its previously announced registered public offering of 36,047,919 shares of its common stock, or in lieu of common stock to certain investors, 1,883,121 pre-funded warrants to purchase shares of common stock, and accompanying common warrants to purchase 49,310,352 shares of common stock at an exercise price of US$3.50. The combined public offering price for each share of common stock and accompanying common warrant is US$2.90, and the combined public offering price for each pre-funded warrant and accompanying common warrant is US$2.899 (equal to the combined public offering price per share of common stock and accompanying common warrant, minus US$0.001), for expected gross proceeds to Pyxis Oncology of approximately US$110 million, before deducting underwriting discounts, commissions, and offering expenses. If all of the common warrants and pre-funded warrants are exercised in full, Pyxis Oncology would receive additional gross proceeds of approximately US$172.6 million, before deducting applicable expenses.

Latham & Watkins LLP represents the underwriters in the offering with a Capital Markets team led by New York partners Nathan Ajiashvili and Sandy Kugbei, with associates Katie Mehary and Jenny Li.