Pyxis Oncology Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2025
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Source: Globenewswire
Clinical Trial Updates: Pyxis Oncology reported positive preliminary data from its Phase 1 trial of micvotabart pelidotin (MICVO) for recurrent and metastatic head and neck squamous cell carcinoma, achieving a 50% objective response rate. The company has received Fast Track Designation from the FDA and initiated expansion cohorts and combination studies with Merck's KEYTRUDA.
Business Developments: The company is streamlining operations by reducing its workforce by approximately 20% to focus on advancing MICVO, while also reporting a net loss of $77.3 million for 2024. They expect their cash runway to last into the second half of 2026.
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.
