Experts Raise Concerns About Pyxis Oncology's Small Clinical Trial
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 19 2025
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Source: Benzinga
Preliminary Data Release: Pyxis Oncology announced preliminary results from Phase 1 studies of micvotabart pelidotin (MICVO) for recurrent/metastatic head and neck squamous cell carcinoma, showing a 46% overall response rate in monotherapy and 71% in combination with Keytruda, with high disease control rates.
Future Plans: The company plans to present updated data from both studies in mid and late 2026 and is evaluating the path forward for pivotal studies of MICVO as both a monotherapy and in combination with pembrolizumab.
Financial Update: Pyxis completed a sale of rights for $11 million to support MICVO development, but concerns over cash reserves and data interpretability led to a significant drop in share price, with analysts expressing caution regarding the trial's small sample size and tolerability issues.
Market Reaction: Following the data release, Pyxis shares fell approximately 49%, reflecting investor concerns about the limited interpretability of the results and the company's financial outlook, despite a slight recovery in premarket trading.
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Analyst Views on PYXS
Wall Street analysts forecast PYXS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PYXS is 6.90 USD with a low forecast of 5.00 USD and a high forecast of 9.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 1.510
Low
5.00
Averages
6.90
High
9.00
Current: 1.510
Low
5.00
Averages
6.90
High
9.00
About PYXS
Pyxis Oncology, Inc. is a clinical-stage company focused on developing therapeutics to target difficult-to-treat cancers. The Company is building therapeutics that hold the potential for mono and combination therapies. Its clinical program portfolio includes micvotobart pelidotin (MICVO), PYX-106, Sotigalimab (PYX-107), PYX-203, PYX-102, and APX601. The Company’s lead product candidate, MICVO, is an antibody-drug conjugate (ADC) that targets Extradomain-B Fibronectin (EDB+FN), a non-cellular structural component of the tumor extra-cellular matrix (ECM). MICVO is designed to generate a multi-pronged attack on difficult-to-treat cancers by directly killing cancer cells, reducing ECM density, inhibiting tumor angiogenesis and mobilizing an anti-tumor immune response. The Company’s ADC, MICVO, consists of human Immunoglobulin G1 (IgG1) and is site-specifically conjugated with a cleavable linker and a microtubule inhibitor (optimized auristatin) payload.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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