Small SPAC Biotech Apexigen To Be Acquired Pyxis Oncology For $16M
Portfolio Pulse from Vandana Singh
Pyxis Oncology (NASDAQ:PYXS) has agreed to acquire Apexigen (NASDAQ:APGN) in an all-stock transaction valued at $0.64 per share, with a total enterprise value of $16 million. The deal is expected to close by mid-2023, and the combined company will trade under the ticker symbol PYXS.
May 24, 2023 | 6:28 pm
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NEUTRAL IMPACT
Pfizer's stock price is unlikely to be significantly impacted by the Pyxis Oncology-Apexigen acquisition, as the company's previous licensing agreement with Pyxis Oncology is not directly related to the deal.
Although Pfizer had a previous licensing agreement with Pyxis Oncology, the acquisition of Apexigen by Pyxis Oncology is not directly related to this agreement. Therefore, the impact on Pfizer's stock price is expected to be minimal, with low relevance and importance for PFE investors.
CONFIDENCE 80
IMPORTANCE 10
RELEVANCE 20
NEUTRAL IMPACT
Pyxis Oncology's stock price may be affected by the acquisition of Apexigen, as the company will issue approximately 4.4 million shares of its common stock to Apexigen stockholders.
The acquisition of Apexigen by Pyxis Oncology may have a neutral impact on PYXS stock price in the short term, as the company will issue approximately 4.4 million shares of its common stock to Apexigen stockholders. This news is relevant and important for PYXS investors, as it affects the company's outstanding shares and potential dilution.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Apexigen's stock price is likely to be impacted by the acquisition by Pyxis Oncology, with the deal valued at $0.64 per share.
The acquisition of Apexigen by Pyxis Oncology directly impacts the stock price of APGN, as the deal is valued at $0.64 per share. This news is highly relevant and important for APGN investors, as it determines the value they will receive in the all-stock transaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100