Pyxis Oncology acquires Apexigen in ~$16M all-stock deal; CMO resigns

Pyxis Oncology, Inc.

Merger valued at ~$16M enterprise value; implied $0.64 per Apexigen share; exchange ratio 0.1725 PYXS shares per APGN share.
Pyxis stockholders to own ~90% of combined company; Apexigen stockholders ~10%; deal expected to close mid-2023.
Adds klinical-stage CD40 agonist sotigalimab (Phase 2) and APXiMAB antibody platform to Pyxis' FACT ADC toolkit.
Cash runway extended into first half of 2025 per company guidance.
CMO Jay Feingold steps down effective June 15, 2023; will serve as advisor until successor is named.

item 1.01 item 5.02 item 7.01 item 8.01 item 9.01

Executive movements

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Departed

Jay Feingold

Chief Medical Officer

PYXS · Pyxis Oncology, Inc.

Effective: 2023-06-15
Filed: May 24, 2023, 7:59 PM ET

On May 24, 2023, the Company announced that Jay Feingold, M.D., Ph.D., will be stepping down from his position as the Company's Chief Medical Officer to pursue other opportunities.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jay Feingold resigned as Chief Medical Officer at Pyxis Oncology, Inc..

Action: resigned
Role: Chief Medical Officer

Exact text from the filing

On May 24, 2023, the Company announced that Jay Feingold, M.D., Ph.D., will be stepping down from his position as the Company's Chief Medical Officer to pursue other opportunities.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Pyxis Oncology, Inc. entered into Merger Agreement with Apexigen, Inc. (effective 2023-05-23).

Action: entry
Agreement: merger
Counterparty: Apexigen, Inc.
Effective: 2023-05-23

Exact text from the filing

On May 23, 2023, Pyxis Oncology, Inc., a Delaware corporation (“Pyxis Oncology” or the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Ascent Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of the Company (“Merger Sub”), and Apexigen, Inc., a Delaware corporation (“Apexigen”)

View on SEC.gov

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Pyxis Oncology, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-023753

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