Pyxis Oncology terminates $150 million at-the-market stock offering

Pyxis Oncology, Inc. filed a Supplement No. 1 to its prospectus supplement on September 29, 2026, amending terms it had set out in a prospectus supplement dated November 26, 2025. The supplement amends the November 26, 2025 prospectus supplement and should be read alongside that document and the underlying prospectus, also dated November 26, 2025.¹

The underlying arrangement dates to November 26, 2025, when Pyxis Oncology entered into a Sales Agreement with Leerink Partners LLC covering common stock to be sold under the prospectus supplement, allowing the company to offer up to $150,000,000 in shares over time through at-the-market transactions.¹ As of the date of the new supplement, the company had not sold any shares under that Sales Agreement.¹

The September 29 filing ends that offering. Pyxis Oncology terminated the continuous offering effective at the time of filing and reduced the maximum aggregate gross sales price available under the prospectus supplement from $150,000,000 to $0, freeing up corresponding capacity under its Form S-3 registration statement (File No. 333-291801) for other offerings, with no further shares to be sold under the prior prospectus supplement.¹

The Sales Agreement itself was not terminated. Pyxis Oncology said it will not sell common stock under the Sales Agreement unless and until it files a new prospectus supplement covering such sales, though the Sales Agreement remains in full force and effect.¹

The supplement is dated September 29, 2026.¹