Biotech Steals Premarket Spotlight

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Wednesday, March 29, 2023

For those of you who frequently read our Penny Stock Insider Pro feature might have already had this Massachusetts-based biotech on their radar since last week’s article, but for those that haven’t been watching, shares of Pyxis Oncology Inc. (Nasdaq:PYXS) have been on a roll in recent sessions.

Following some insider share purchases last week, this stock is rallying yet again during Wednesday’s premarket hours after it was announced that the company’s board approved a stock option repricing that “better aligns the interest of the key contributors with the goals of the company.” Shares are currently bid up at $4.17/share (+8.31% implied open for sellers) at the time of writing. 

Pyxis Oncology Inc is a clinical-stage oncology company focused on developing a multi-modality portfolio of next-generation therapeutics to target difficult-to-treat cancers and improve the quality of life for patients. It develops the product candidates to directly kill tumor cells and address the underlying pathologies created by cancer that enable its uncontrollable proliferation and immune evasion. Its lead ADC product candidate is PYX-201, an investigational human IgG1 isotype site-specifically conjugated with an auristatin toxin targeting EDB that initially develop for solid tumors, including NSCLC, hormone receptor-positive breast, ovarian and thyroid cancer. The IO product candidate is PYX-106, designed to block Siglec-15-mediated suppression of T-cell proliferation and function.

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