Pfizer-backed Pyxis Oncology wobbles on debut after IPO upsized
08/10/2021 16:42
** Pyxis Oncology Inc PYXS.O rises, then slips on debut
after pricing upsized IPO
** PYXS opens at $19 vs $16 IPO price. Shares last down 4.6%
at $15.26
** Co sells 10.5 mln shares at top end of $14-$16 range for
$168 mln gross raise urn:newsml:reuters.com:*:nGNX5wxXlN
** Pyxis early Thurs boosted expected deal size to 9.5 mln
shares after originally marketing 8.3 mln shares
** In March 2021, co licensed worldwide rights to two
antibody drug conjugates (ADC) from Pfizer PFE.N , which has
~13% pre-IPO stake in Pyxis (See filing https://www.sec.gov/Archives/edgar/data/1782223/000119312521293655/d156228ds1a.htm)
** BofA, Jefferies, Credit Suisse and William Blair leading
the IPO
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))