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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