Pyxis Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Pyxis Oncology, Inc. granted restricted stock units and stock options to a newly hired employee under the 2022 Inducement Plan. The awards total 39,680 shares and 49,600 shares respectively, with vesting over four years. The stock options have a ten-year term with an exercise price of $4.26, the closing price on March 28, 2024.

BOSTON, March 28, 2024 (GLOBE NEWSWIRE) -- Pyxis Oncology, Inc. (Nasdaq: PYXS), a clinical stage company focused on developing next generation therapeutics to target difficult-to-treat cancers, reported today that Pyxis Oncology’s Compensation Committee of the Board of Directors granted restricted stock units with respect to an aggregate of 39,680 shares of Pyxis Oncology’s common stock and stock options to purchase an aggregate of 49,600 shares of Pyxis Oncology’s common stock to a newly hired employee. The awards were granted under the Pyxis Oncology, Inc. 2022 Inducement Plan with a grant date of March 28, 2024, as an inducement material to the new employee entering employment with Pyxis Oncology, in accordance with Nasdaq Listing Rule 5635(c)(4).

The restricted stock units and 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 continued employment with the Company through the applicable vesting dates. The stock options have a ten-year term and an exercise price of $4.26, the closing price of Pyxis Oncology’s common stock as reported by Nasdaq on March 28, 2024.

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 mono and combination therapies. PYX-201, an antibody-drug conjugate (ADC) that uniquely targets EDB+FN within the tumor stroma, and PYX-106, a fully human Siglec-15-targeting antibody designed to block suppression of T-cell proliferation and function, are being evaluated in ongoing Phase 1 clinical studies in multiple types of solid tumors. Pyxis Oncology’s therapeutic candidates are designed to directly kill tumor cells and to address the underlying pathologies created by cancer that enable its uncontrollable proliferation and immune evasion. Pyxis Oncology’s ADC and immuno-oncology (IO) programs employ novel and emerging strategies to target a broad range of solid tumors resistant to current standards of care. To learn more, visit www.pyxisoncology.com or follow us on Twitter and LinkedIn.

Pyxis Oncology Contact
Pamela Connealy
CFO and COO
ir@pyxisoncology.com

FAQ

What did Pyxis Oncology grant to a newly hired employee?

Pyxis Oncology granted restricted stock units and stock options.

Under which plan were the awards granted?

The awards were granted under the Pyxis Oncology, Inc. 2022 Inducement Plan.

How many shares of common stock were granted as restricted stock units?

A total of 39,680 shares of Pyxis Oncology’s common stock were granted.

What is the exercise price of the stock options?

The stock options have an exercise price of $4.26.

How long is the term of the stock options?

The stock options have a ten-year term.