Pyxis Oncology granted stock options for 246,238 shares to four new employees under its 2022 Inducement Plan.
Quiver AI Summary
Pyxis Oncology, Inc. announced that its Compensation Committee has granted stock options for a total of 246,238 shares of its common stock to four newly hired employees, under the 2022 Inducement Plan, as an incentive for their employment. The options include 181,238 shares that will vest over four years with a portion vesting annually and the remainder monthly, and 65,000 shares that will fully vest by December 31, 2025, pending continuous service. The options have a ten-year term and an exercise price of $1.10, reflecting the closing stock price on June 30, 2025. The company is focused on developing next-generation antibody-drug conjugate therapies for challenging cancers, with its lead candidate currently undergoing clinical trials targeting recurrent and metastatic head and neck squamous cell carcinoma.
Potential Positives
- Pyxis Oncology is attracting new talent by granting stock options to four newly hired employees, which may enhance its workforce and innovation capabilities.
- The stock options are structured to incentivize long-term engagement, with a vesting schedule that promotes employee retention and commitment to the company's goals.
- The company continues to progress with its lead candidate, micvotabart pelidotin (MICVO), focusing on important markets in oncology, specifically targeting recurrent and metastatic head and neck squamous cell carcinoma.
- Pyxis Oncology is advancing its clinical programs by initiating a Phase 1/2 combination study of MICVO with Merck’s KEYTRUDA®, potentially improving treatment options for patients with difficult-to-treat cancers.
Potential Negatives
- The issuance of stock options to new employees may indicate a reliance on new hires for future success, raising concerns about existing staff performance and retention.
- The vesting terms of stock options suggest potential turnover risks, as a significant portion vests only if employees remain with the company, which could lead to instability if turnover occurs.
- The press release lacks detailed information on the company's financial performance or funding status, which could raise questions about its ability to support ongoing operations and development.
FAQ
What stock options were granted to Pyxis Oncology's new employees?
Pyxis Oncology granted stock options to purchase 246,238 shares of common stock to four newly hired employees.
What is the vesting schedule for the stock options?
181,238 stock options vest over four years, with 25% vesting on the first anniversary and the remainder monthly over 36 months.
What is the exercise price for the granted stock options?
The exercise price for the stock options is $1.10, which is the closing price on June 30, 2025.
What is Pyxis Oncology's focus in drug development?
Pyxis Oncology focuses on developing next-generation antibody-drug conjugate therapeutics for difficult-to-treat cancers.
Where can I find more information about Pyxis Oncology?
More information can be found at www.pyxisoncology.com or on their social media platforms, X and LinkedIn.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PYXS Hedge Fund Activity
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Full Release
BOSTON, June 30, 2025 (GLOBE NEWSWIRE) -- Pyxis Oncology, Inc. (Nasdaq: PYXS), a clinical-stage company developing next-generation antibody-drug conjugate (‘ADC’) therapeutics for difficult-to-treat cancers, reported today that Pyxis Oncology’s Compensation Committee of the Board of Directors granted stock options to purchase an aggregate of 246,238 shares of Pyxis Oncology’s common stock to four newly hired employees. The awards were granted under the Pyxis Oncology, Inc. 2022 Inducement Plan (the ‘Plan’) with a grant date of June 30, 2025, as an inducement material to the new employee entering employment with Pyxis Oncology, in accordance with Nasdaq Listing Rule 5635(c)(4).
An aggregate of 181,238 stock options vest over four years, with 25% vesting on the first anniversary of the vesting commencement date for each employee and the remaining shares vesting monthly over the 36-month period thereafter, subject to continuous service (as defined in the Plan) with the Company through the applicable vesting dates. An aggregate of 65,000 stock option vest in full on December 31, 2025, subject to the recipient’s continuous service (as defined in the Plan) through such date. The stock options have a ten-year term and an exercise price of $1.10, the closing price of Pyxis Oncology’s common stock as reported by Nasdaq on June 30, 2025.
Pyxis Oncology is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Pyxis Oncology, Inc.
Pyxis Oncology, Inc. is a clinical stage company focused on defeating difficult-to-treat cancers. The Company is efficiently building next generation therapeutics that hold the potential for monotherapy and combination indications. Its lead candidate, micvotabart pelidotin (MICVO, formerly PYX-201), has been evaluated in ongoing Phase 1 clinical studies in multiple types of solid tumors with a go-forward development focus on treating patients with recurrent and metastatic head and neck squamous cell carcinoma (R/M HNSCC) based on the strength of the HNSCC signal that emerged. Additionally, the Company initiated a Phase 1/2 combination study of MICVO and Merck’s anti-PD-1 therapy, KEYTRUDA
®
(pembrolizumab), in patients with R/M HNSCC and other advanced solid tumors.
To learn more, visit www.pyxisoncology.com or follow us on X (formerly known as Twitter) and LinkedIn .
Pyxis Oncology Contact
Pamela Connealy
CFO and COO
[email protected]
