Having priced its shares at the top of its range, UChicago spinout Pyxis Oncology suffered a drop on the first day of trading.

Pyxis Oncology, a US-based cancer therapy developer spun out of University of Chicago (UChicago), issued 10.5 million shares priced at $16 to raise $168m in an upsized initial public offering on Friday. Although the price marks the top end of Pyxis’ range and shares opened at $18.88, they crashed to $13.20 by the end of…

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