Quarterly ResultMay 14, 2026, 07:41 AM
Pyxis Oncology Q1 Net Loss $23.3M; Advances MICVO Clinical Milestones
AI Summary
Pyxis Oncology reported a net loss of $23.3 million for the first quarter of 2026, with cash and equivalents totaling $42.5 million, providing a cash runway into the fourth quarter of 2026. The company highlighted continued advancement of its micvotabart pelidotin (MICVO) clinical development program, with updated Phase 1 monotherapy data for 2L+ R/M HNSCC expected mid-2026 and Phase 1/2 combination data with pembrolizumab for 1L R/M HNSCC in the second half of 2026. Additionally, Pyxis Oncology announced the appointment of Nelson Azoulay as Chief Business Officer.
Key Highlights
- Net loss of $23.3 million for Q1 2026, compared to $21.2 million in Q1 2025.
- Cash and cash equivalents, including restricted cash, and short-term investments, totaled $42.5 million as of March 31, 2026.
- Company expects cash runway into the fourth quarter of 2026.
- Research and development expenses increased to $20.0 million in Q1 2026 from $17.0 million in Q1 2025.
- General and administrative expenses decreased to $4.4 million in Q1 2026 from $5.9 million in Q1 2025.
- Updated MICVO Phase 1 monotherapy data for 2L+ R/M HNSCC on track for mid-2026.
- Updated MICVO Phase 1/2 combination data with pembrolizumab for 1L R/M HNSCC on track for 2H26.
- Nelson Azoulay appointed Chief Business Officer in May 2026.