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Pyxis Oncology , Inc. (NASDAQ:PYXS), a clinical-stage biotech company with a market capitalization of $68 million and strong liquidity position, announced Monday that revisions to patient enrollment for its Phase 1 monotherapy clinical trial of micvotabart pelidotin (MICVO), formerly known as PYX-201, were posted on ClinicalTrials.gov on July 31. According to InvestingPro data, the company maintains more cash than debt on its balance sheet, though it’s currently experiencing rapid cash burn. The trial is a first-in-human, open-label, multicenter study evaluating the safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy of MICVO in participants with advanced solid tumors. The study includes a dose escalation phase and a dose expansion phase (NCT05720117).
According to the company’s statement, the revision reflects the maximum number of patients permitted to enroll in the trial according to the study protocol. Pyxis Oncology confirmed that its previous guidance regarding the estimated number of head and neck squamous cell carcinoma patients to be included in the dose expansion phase remains unchanged, as previously disclosed in its quarterly report filed with the Securities and Exchange Commission on May 15.
Pyxis Oncology’s common stock is listed on the Nasdaq Global Select Market under the ticker symbol PYXS. This information is based on a press release statement included in the company’s filing with the Securities and Exchange Commission.
In other recent news, Pyxis Oncology, Inc. announced the retirement of Pamela Connealy from her positions as Chief Financial Officer and Chief Operating Officer. The company clarified that her retirement was not due to any disagreements with auditors or management over accounting or financial disclosures. Connealy will receive severance benefits as per her employment agreement, contingent upon signing the company’s separation and release agreement. Additionally, Pyxis Oncology held its Annual Meeting of Stockholders, where three Class I directors were elected to serve until the 2028 Annual Meeting. Dr. Santhosh Palani, Mr. Darren Cline, and Dr. Rachel Humphrey were elected with varying levels of shareholder support. These developments reflect ongoing changes in Pyxis Oncology’s leadership and governance structure.
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