IPOS - Pyxis Oncology falls 21% to record low after key executive quits cancer-drug firm

Pyxis Oncology (NASDAQ:PYXS) tumbled more than 20% Monday to a post-IPO low as the cancer-drug developer’s stock apparently sank on a key executive’s departure. PYXS fell as much as 25.5% to $9.08 before partly recovering to end the day at a $9.64 record-low finish, off 20.9% for the session. The stock has also fallen 39.8% from the $16 a share where the biotech went public at in October. Pyxis (PYXS) appeared to fall on news that Dr. James Mutamba, the company’s vice president of business and corporate development, had jumped ship to join privately held Arrakis Therapeutics as its chief business officer. The news represented just the latest negative catalyst for PYXS, which staged what had initially seemed like a promising IPO some two months ago. The company’s upsized initial public offering priced at the top of its expected range, then PYXS rose some 18.8% intraday in its first trading

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Pyxis Oncology falls 21% to record low after key executive quits cancer-drug firm