Acquisition of Apexigen (Tables)

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Summary of Acquisition Date Fair Value of Consideration Transferred

The following table summarizes the acquisition date fair value of the consideration transferred for Apexigen (in thousands, except share and per-share information):

Fair value of Pyxis Oncology common stock issued to Apexigen stockholders (i)	$	9,970
Fair value of replacement options and RSUs attributable to pre-combination service (ii)		144
Fair value of replacement warrants (iii)		618
Provisional purchase price	$	10,732

Summary of Preliminary Acquisition Date Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary acquisition date fair value of the assets acquired and liabilities assumed (in thousands):

	Amount
Assets acquired:
Cash and cash equivalents	$	6,660
Prepaid expenses and other current assets		519
Intangible assets, net		24,458
Total identifiable assets	$	31,637
Liabilities assumed:
Accounts payable		(4,548	)
Accrued liabilities		(7,531	)
Deferred tax liability, net		(2,164	)
Deferred revenue		(6,662	)
Total identifiable liabilities		(20,905	)
Net assets acquired	$	10,732

Schedule of Supplemental Pro Forma Information

On a pro forma basis to give effect to the Merger as if it occurred on January 1, 2022, net loss for the years ended December 31, 2023 and 2022, respectively, would have been as follows:

	Year Ended December 31,
	2023			2022
Net loss	$	(97,791	)	$	(153,207	)