Bayer, Pfizer and Ipsen-backed cancer therapeutics developer Pyxis Oncology priced its shares at the top of its range.

US-based cancer therapy developer Pyxis Oncology secured $168m in an upsized initial public offering on Friday representing exits for pharmaceutical firms Bayer, Pfizer and Ipsen.

The company issued 10.5 million shares on the Nasdaq Global Select Market priced at the top of its $14 to $16 range. They opened at $18.88 but crashed to $13.20 by the end of its first day of trading.

Pyxis is developing antibody-drug conjugates (ADCs) and immunotherapies for cancers that are difficult to treat,…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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