Pyxis Oncology to Update MICVO Data Mid-2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2026
0mins
"Our team's exceptional clinical and operational execution in the first quarter of 2026, combined with growing investigator enthusiasm for MICVO's potential to positively impact the lives of patients with cancer, has positioned us to deliver key milestones for the MICVO program this year," said Tom Civik, Interim Chief Executive Officer and Director of Pyxis Oncology. "We remain on track to share updated monotherapy data in mid-year 2026 and updated combination data in the second half of 2026. The mid-year 2026 monotherapy update will focus on 2L+ R/M HNSCC patients treated at or below a dose cap, which we implemented in December 2025. The goal of moving to a dose cap was to maintain MICVO's strong efficacy profile while improving safety and tolerability. In the Phase 1/2 dose escalation combination study with pembrolizumab, we have refined our focus to 1L R/M HNSCC patients. We believe these two datasets will help establish MICVO's broad potential as a novel ADC for patients with difficult-to-treat cancers and substantial unmet need."
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy PYXS?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on PYXS
Wall Street analysts forecast PYXS stock price to rise
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 1.780
Low
5.00
Averages
6.90
High
9.00
Current: 1.780
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.
Pyxis Oncology Q1 Earnings Miss Expectations
- Earnings Performance: Pyxis Oncology reported a Q1 GAAP EPS of -$0.37, missing the expected -$0.36, indicating challenges in profitability that may affect investor confidence.
- Cash Position: As of March 31, 2026, the company had $42.5 million in cash, cash equivalents, and short-term investments, suggesting a reasonable liquidity position, but future funding needs remain a concern.
- Operational Funding Assurance: The company believes its current cash and short-term investments will be sufficient to fund operations into Q4 2026, reflecting management's optimistic outlook for the upcoming months despite profitability pressures.
- Market Reaction Outlook: Given the earnings miss, investors may adopt a cautious stance regarding the company's future growth potential, potentially leading to short-term stock price volatility.
See More
Pyxis Oncology to Participate in Upcoming Investor Conferences
- Investor Conference Schedule: Pyxis Oncology will participate in the RBC Capital Markets Global Healthcare Conference in New York on May 19, 2026, with a fireside chat at 2:35 p.m., aiming to attract investor interest in its innovative therapies for difficult-to-treat cancers.
- Virtual Forum Participation: The company will also engage in the Stifel Virtual Oncology Forum on May 20, 2026, at 3:30 p.m., enhancing its visibility among investors and showcasing its treatment options for challenging cancer cases.
- Clinical Research Progress: Pyxis Oncology's lead candidate, MICVO, is currently undergoing a Phase 1 clinical study for recurrent and metastatic head and neck squamous cell carcinoma, aiming to improve treatment outcomes through a three-pronged mechanism, highlighting the company's potential in cancer therapy.
- FDA Fast Track Designation: MICVO has received Fast Track Designation from the U.S. FDA for adult patients with recurrent and metastatic head and neck squamous cell carcinoma who have progressed after platinum-based chemotherapy and KEYTRUDA®, underscoring the strategic significance and market opportunities for the company in cancer treatment.
See More
Pyxis Oncology's maMICVO Shows Anti-Tumor Activity in HNSCC Model
- Monotherapy Efficacy: In a syngeneic preclinical model of HNSCC, maMICVO monotherapy demonstrated dose-dependent tumor growth inhibition, with 6 mg/kg achieving the strongest effect, indicating its potential in cancer treatment.
- Immune Environment Modulation: Treatment with maMICVO significantly altered the tumor immune environment by reducing the abundance of immune-suppressive regulatory T cells and increasing the CD8 T cell-to-Treg ratio, enhancing responsiveness to anti-PD-1 therapy and creating a more favorable setting for immunotherapy.
- Synergistic Combination Therapy: The combination of maMICVO and anti-mouse PD-1 exhibited greater anti-tumor activity than either treatment alone, highlighting the effectiveness of its three-pronged mechanism of action and offering new therapeutic options for immunotherapy-refractory tumors.
- Clinical Development Outlook: These preclinical findings support the ongoing clinical development of MICVO as both a monotherapy and in combination with pembrolizumab, with further updates expected in the second half of 2026 regarding 1L/2L+ R/M HNSCC patients, advancing its clinical application.
See More
Pyxis Oncology Reports Expanded Losses and Milestones for MICVO
- Financial Results: Pyxis Oncology reported a widened net loss of $79.6 million for FY2025, translating to a loss of $1.28 per share, which is an increase from a loss of $77.3 million or $1.32 per share last year, indicating ongoing financial challenges for the company.
- Revenue Decline: The company's revenue decreased from $16.1 million to $13.9 million year-over-year, reflecting weakened market competitiveness that could impact future funding capabilities and investor confidence.
- Clinical Progress: Positive preliminary data for MICVO in recurrent/metastatic head and neck squamous cell carcinoma has been announced, with updated combination data expected in the second half of 2026, showcasing the company's ongoing commitment to research and potential market opportunities.
- Cash Position: As of December 31, 2025, Pyxis had $68.3 million in cash, expected to fund operations into Q4 2026, indicating relative short-term liquidity stability, though long-term prospects remain a concern.
See More
PYXIS ONCOLOGY INC ANTICIPATES FUNDING TO LAST THROUGH Q4 2026
- Market Expectations: Analysts predict a cash runway for the company extending into the fourth quarter of 2026.
- Financial Outlook: The projections indicate a stable financial position, allowing for continued operations and potential growth.
See More
Pyxis Oncology Reports Q4 Earnings Miss with Revenue Decline
- Earnings Miss: Pyxis Oncology reported a Q4 GAAP EPS of -$1.28, missing expectations by $0.93, indicating significant challenges in profitability that could undermine investor confidence.
- Revenue Decline: The company’s Q4 revenue of $13.9 million represents a 13.7% year-over-year decrease, reflecting weak market demand and poor product sales, which may hinder future growth prospects.
- Cash Position: As of December 31, 2025, Pyxis Oncology had cash and cash equivalents, including short-term investments, totaling $68.3 million, indicating some financial flexibility in the short term, but long-term sustainability remains a concern.
- Operational Funding Assurance: The company believes its current cash and short-term investments will be sufficient to fund operations into Q4 2026; however, without revenue improvement, it may face funding pressures in the future.
See More
Pyxis Oncology Q1 Earnings Miss Expectations
- Earnings Performance: Pyxis Oncology reported a Q1 GAAP EPS of -$0.37, missing the expected -$0.36, indicating challenges in profitability that may affect investor confidence.
- Cash Position: As of March 31, 2026, the company had $42.5 million in cash, cash equivalents, and short-term investments, suggesting a reasonable liquidity position, but future funding needs remain a concern.
- Operational Funding Assurance: The company believes its current cash and short-term investments will be sufficient to fund operations into Q4 2026, reflecting management's optimistic outlook for the upcoming months despite profitability pressures.
- Market Reaction Outlook: Given the earnings miss, investors may adopt a cautious stance regarding the company's future growth potential, potentially leading to short-term stock price volatility.
See More
Pyxis Oncology to Participate in Upcoming Investor Conferences
- Investor Conference Schedule: Pyxis Oncology will participate in the RBC Capital Markets Global Healthcare Conference in New York on May 19, 2026, with a fireside chat at 2:35 p.m., aiming to attract investor interest in its innovative therapies for difficult-to-treat cancers.
- Virtual Forum Participation: The company will also engage in the Stifel Virtual Oncology Forum on May 20, 2026, at 3:30 p.m., enhancing its visibility among investors and showcasing its treatment options for challenging cancer cases.
- Clinical Research Progress: Pyxis Oncology's lead candidate, MICVO, is currently undergoing a Phase 1 clinical study for recurrent and metastatic head and neck squamous cell carcinoma, aiming to improve treatment outcomes through a three-pronged mechanism, highlighting the company's potential in cancer therapy.
- FDA Fast Track Designation: MICVO has received Fast Track Designation from the U.S. FDA for adult patients with recurrent and metastatic head and neck squamous cell carcinoma who have progressed after platinum-based chemotherapy and KEYTRUDA®, underscoring the strategic significance and market opportunities for the company in cancer treatment.
See More
Pyxis Oncology's maMICVO Shows Anti-Tumor Activity in HNSCC Model
- Monotherapy Efficacy: In a syngeneic preclinical model of HNSCC, maMICVO monotherapy demonstrated dose-dependent tumor growth inhibition, with 6 mg/kg achieving the strongest effect, indicating its potential in cancer treatment.
- Immune Environment Modulation: Treatment with maMICVO significantly altered the tumor immune environment by reducing the abundance of immune-suppressive regulatory T cells and increasing the CD8 T cell-to-Treg ratio, enhancing responsiveness to anti-PD-1 therapy and creating a more favorable setting for immunotherapy.
- Synergistic Combination Therapy: The combination of maMICVO and anti-mouse PD-1 exhibited greater anti-tumor activity than either treatment alone, highlighting the effectiveness of its three-pronged mechanism of action and offering new therapeutic options for immunotherapy-refractory tumors.
- Clinical Development Outlook: These preclinical findings support the ongoing clinical development of MICVO as both a monotherapy and in combination with pembrolizumab, with further updates expected in the second half of 2026 regarding 1L/2L+ R/M HNSCC patients, advancing its clinical application.
See More
Pyxis Oncology Reports Expanded Losses and Milestones for MICVO
- Financial Results: Pyxis Oncology reported a widened net loss of $79.6 million for FY2025, translating to a loss of $1.28 per share, which is an increase from a loss of $77.3 million or $1.32 per share last year, indicating ongoing financial challenges for the company.
- Revenue Decline: The company's revenue decreased from $16.1 million to $13.9 million year-over-year, reflecting weakened market competitiveness that could impact future funding capabilities and investor confidence.
- Clinical Progress: Positive preliminary data for MICVO in recurrent/metastatic head and neck squamous cell carcinoma has been announced, with updated combination data expected in the second half of 2026, showcasing the company's ongoing commitment to research and potential market opportunities.
- Cash Position: As of December 31, 2025, Pyxis had $68.3 million in cash, expected to fund operations into Q4 2026, indicating relative short-term liquidity stability, though long-term prospects remain a concern.
See More
PYXIS ONCOLOGY INC ANTICIPATES FUNDING TO LAST THROUGH Q4 2026
- Market Expectations: Analysts predict a cash runway for the company extending into the fourth quarter of 2026.
- Financial Outlook: The projections indicate a stable financial position, allowing for continued operations and potential growth.
See More
Pyxis Oncology Reports Q4 Earnings Miss with Revenue Decline
- Earnings Miss: Pyxis Oncology reported a Q4 GAAP EPS of -$1.28, missing expectations by $0.93, indicating significant challenges in profitability that could undermine investor confidence.
- Revenue Decline: The company’s Q4 revenue of $13.9 million represents a 13.7% year-over-year decrease, reflecting weak market demand and poor product sales, which may hinder future growth prospects.
- Cash Position: As of December 31, 2025, Pyxis Oncology had cash and cash equivalents, including short-term investments, totaling $68.3 million, indicating some financial flexibility in the short term, but long-term sustainability remains a concern.
- Operational Funding Assurance: The company believes its current cash and short-term investments will be sufficient to fund operations into Q4 2026; however, without revenue improvement, it may face funding pressures in the future.
See More
