Pyxis Oncology FY EPS $(1.85) Beats $(1.95) Estimate; Cash And Cash Equivalents Of $120.8M And Gross Procced Of $10.8M and $50M Via ATM Offering And Private Placement Is Expected To Provide Cash Runway Into 2H 2026
Portfolio Pulse from Benzinga Newsdesk
Pyxis Oncology (NASDAQ:PYXS) reported a FY EPS of $(1.85), surpassing the $(1.95) estimate, marking a 49.32% improvement from last year's $(3.65) per share loss. With $120.8M in cash and an additional $10.8M and $50M expected from an ATM offering and private placement, the company anticipates a cash runway into the second half of 2026.
March 21, 2024 | 11:41 am
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POSITIVE IMPACT
Pyxis Oncology reported a narrower FY loss than expected and has secured significant funding to extend its cash runway into 2H 2026.
The positive earnings surprise and the successful securing of additional funding are likely to be viewed favorably by investors. The improvement in year-over-year losses and the extended cash runway signal strong financial health and operational progress, which could lead to increased investor confidence and a potential uplift in the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100