廣告
香港股市 已收市
  • 恒指

    16,541.42
    +148.58 (+0.91%)
     
  • 國指

    5,810.79
    +82.66 (+1.44%)
     
  • 上證綜指

    3,041.17
    +30.50 (+1.01%)
     
  • 滬深300

    3,537.48
    +16.52 (+0.47%)
     
  • 美元

    7.8255
    -0.0001 (-0.00%)
     
  • 人民幣

    0.9225
    -0.0003 (-0.03%)
     
  • 道指

    39,807.37
    +47.29 (+0.12%)
     
  • 標普 500

    5,254.35
    +5.86 (+0.11%)
     
  • 納指

    16,379.46
    -20.06 (-0.12%)
     
  • 日圓

    0.0514
    0.0000 (0.00%)
     
  • 歐元

    8.4334
    -0.0072 (-0.08%)
     
  • 英鎊

    9.8740
    -0.0020 (-0.02%)
     
  • 紐約期油

    83.11
    -0.06 (-0.07%)
     
  • 金價

    2,254.80
    +16.40 (+0.73%)
     
  • Bitcoin

    70,352.68
    +120.38 (+0.17%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

Small SPAC Biotech Apexigen To Be Acquired Pyxis Oncology For $16M

  • Pyxis Oncology Inc (NASDAQ: PYXS) agreed to acquire Apexigen Inc (NASDAQ: APGN) in an all-stock transaction for an implied value of $0.64 per Apexigen share.

  • Apexigen went public in a blank-check deal just last summer.

  • For each share of Apexigen, Pyxis Oncology will issue 0.1725 shares of its common stock for a total enterprise value of approximately $16 million.

  • In February, Apexigen announced evaluating alternatives and reduced its workforce by 55%.

  • "This acquisition uniquely positions Pyxis Oncology at the forefront of antibody-drug conjugate (ADC) innovation by adding humanized antibody generation to our Flexible Antibody Conjugation Technology (FACT) ADC toolkit acquired from Pfizer," said Lara S. Sullivan, President & CEO of Pyxis Oncology.

  • Pyxis Oncology ended Q1 FY23 with approximately $150.8 million in cash.

  • Effective June 15, 2023, Jay Feingold will step down as Chief Medical Officer to pursue other opportunities. He will remain an advisor to Pyxis Oncology until a successor is named.

  • Pyxis Oncology expects to issue approximately 4.4 million shares of its common stock to Apexigen stockholders.

  • The transaction is anticipated to close by mid-2023.

  • The combined company will trade on Nasdaq under the ticker symbol PYXS. The existing Pyxis Oncology leadership team will continue, including Lara S. Sullivan as President & CEO, Pamela Connealy as CFO & COO, and Jan Pinkas as Chief Scientific Officer.

  • In 2021, Pyxis Oncology entered into a worldwide license agreement with Pfizer Inc (NYSE: PFE) for two antibody-drug conjugate (ADC) candidates and a license to Pfizer's ADC technology platform.

  • Price Action: APGN shares are up 39.5% at $0.56, and PYXS shares are down 8.92% at $3.40 on the last check Wednesday.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article Small SPAC Biotech Apexigen To Be Acquired Pyxis Oncology For $16M originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.