Pyxis Oncology lays off 20 employees; Xencor’s royalty sale to a pension plan; Jazz partners with MD Anderson
Plus, Celldex prices its public offering and a company developing a UTI vaccine files to go public:
Pyxis Oncology to let go of 2o workers: The company announced Tuesday that it’s taking a series of cost-cutting initiatives, including stopping funding for some early-stage programs, attempting to monetize royalty streams from Apexigen (which it acquired this year), partnering certain assets and laying off 40% of employees. Pyxis said it had 67 employees as of Monday, and it expects to employ 47 people after the workforce reduction. The goal, the company said, is to extend its cash runway into early 2026.
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