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BOSTON - Pyxis Oncology, Inc. (NASDAQ:PYXS), a clinical-stage biopharmaceutical company with a market capitalization of $67 million, announced robust preclinical data supporting the mechanism of action for its leading drug candidate, micvotabart pelidotin (MICVO), and its continued clinical development. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 7.49, indicating solid short-term financial stability. MICVO is an innovative antibody-drug conjugate (ADC) targeting Extradomain-B Fibronectin (EDB+FN), which is overexpressed in various solid tumor tissues but has low expression in healthy adult tissues.
The preclinical studies demonstrated MICVO’s potential to disrupt tumor structure and induce immunogenic cell death through its unique three-pronged mechanism. In mouse models, MICVO showed broad anti-tumor activity across ten solid tumor indications, with a significant number of models exhibiting strong tumor growth inhibition. Additionally, a combination of MICVO and anti-PD-1 therapy enhanced tumor clearance and immunological memory more effectively than either treatment alone.
These findings were presented at the American Association for Cancer Research (AACR) Annual Meeting 2025, held in Chicago, Illinois, on April 28. The data reveal that MICVO might benefit patients as a monotherapy and in combination with anti-PD-1 therapy, particularly for recurrent and metastatic head and neck squamous cell carcinoma (R/M HNSCC) and other advanced solid tumors.
MICVO has received Fast Track Designation from the U.S. Food and Drug Administration for the treatment of adult patients with R/M HNSCC. The drug is currently being evaluated in Phase 1 clinical trials as a monotherapy and in combination with KEYTRUDA® (pembrolizumab) for advanced solid tumors. InvestingPro analysis shows the company holds more cash than debt on its balance sheet, providing important runway for these clinical developments.
Pyxis Oncology’s focus remains on developing next-generation therapeutics for challenging cancers, with a goal of providing new treatment options for patients. This press release statement confirms the company’s commitment to advancing its lead candidate based on the strength of the preclinical evidence. With analysts anticipating sales growth and the next earnings report due on May 9, 2025, investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.
In other recent news, Pyxis Oncology has been granted Fast Track Designation by the U.S. Food and Drug Administration (FDA) for its investigational drug PYX-201. This designation is aimed at expediting the development and review of drugs that address serious conditions, specifically for adult patients with recurrent or metastatic head and neck squamous cell carcinoma (HNSCC) who have not responded to previous treatments. Pyxis Oncology is actively conducting clinical trials for PYX-201, both as a monotherapy and in combination with Merck’s KEYTRUDA® (pembrolizumab). Additionally, Jefferies has adjusted its price target for Pyxis Oncology from $12.00 to $6.00 while maintaining a Buy rating. This adjustment reflects the company’s financial outlook and anticipated data releases from its lead program, MICVO. Jefferies also highlighted Pyxis Oncology’s robust cash position, with $146 million in cash expected to last into the second half of 2026. The firm remains optimistic about the company’s future, despite the competitive landscape and upcoming data events.
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