On December 31, 2024, Ridgeback Capital Investments L.P. acquired 359,231 shares of Pyxis Oncology Inc. at $1.56 per share, emphasizing its focus on biotechnology and innovative cancer treatments. Ridgeback’s investment strategy is highly concentrated, with Pyxis representing 100% of its portfolio. Pyxis, a preclinical oncology company, aims to develop next-gen therapeutics for difficult cancers but has faced significant market challenges, including a 93.05% decline since its IPO. Despite a low GF Score of 31/100 indicating poor growth potential, Ridgeback’s acquisition suggests confidence in Pyxis’s long-term prospects within the competitive biotech sector.