Gene signatures associated with increased efficacy of micvotabart pelidotin (MICVO) due to greater linker cleavage were identified based on differential gene expression analysis of PDX responders/non-responders Mouse analog of MICVO in a syngeneic model indicated strong activity of the cytotoxic Auristatin0101 payload and potential for MICVO monotherapy to drive immunogenic cell death, a key hypothesis for MICVO's mechanism Combination of a mouse analog of MICVO and anti-PD-1 therapy in a syngeneic model re ...

An updated edition of the March 7, 2025, article.The cancer market is seeing significant growth and evolution as there is a rising demand for targeted, less toxic cancer medicines. According to the American Cancer Society, 2024 was the first time that new cancer cases in the United States were expected to cross the 2-million mark. This resulted in a massive increase in the global spending on cancer medicines.The field of cancer treatments has seen remarkable progress with the emergence of innovative cancer ...

BOSTON, April 02, 2025 (GLOBE NEWSWIRE) -- Pyxis Oncology, Inc. (NASDAQ:PYXS), a clinical-stage company developing next-generation therapeutics for difficult-to-treat cancers, today announced that Lara S. Sullivan, M.D., President, Chief Executive Officer and Chief Medical Officer, will participate in a fireside chat at the Stifel 2025 Virtual Targeted Oncology Forum on Wednesday, April 9, 2025, at 11:30 a.m. ET. The Company will also be holding one-on-one investor meetings at the event. A live webcast and ...

Expression data from patient-derived xenograft (PDX) mouse models exposed to micvotabart pelidotin (MICVO) indicate gene signatures associated with efficacy, deepening understanding of MOA and potential patient response Combination of a mouse analog of MICVO and a mouse anti-PD-1 therapy in a syngeneic model resulted in significantly greater tumor regression than either treatment alone Company advances MICVO into monotherapy and combination clinical trials with Merck's anti-PD-1 therapy, Keytruda® (pembroli ...

Product Development - Pyxis Oncology's lead product candidate, micvotabart pelidotin, targets EDB+FN, a component highly expressed in various solid tumors, aiming to destabilize tumor structure while sparing healthy cells [19]. - The company aims to prioritize development efforts towards R/M HNSCC, with an estimated one million new cases worldwide annually by 2030 [36]. - The company initiated the dose expansion phase (Part 2) of the PYX-201-101 study, focusing on R/M HNSCC patients, expecting preliminary data in the second half of 2025 [30]. - The company aims to address the unmet need for more efficacious therapies in R/M HNSCC, particularly those that are chemotherapy-free and have superior tolerability [41]. - The company has deprioritized certain clinical programs and assets to focus resources on the development of micvotabart pelidotin [94]. Clinical Trials - In the Phase 1 dose escalation study (PYX-201-101), 80 patients were dosed, with a confirmed 50% objective response rate (ORR) in R/M HNSCC patients at the therapeutically active dose range of 3.6 mg/kg – 5.4 mg/kg IV Q3W [24][25]. - The study observed tumor regression across nine solid tumor types, with a 26% ORR in six solid tumor types of interest at the same dose range [25]. - The Phase 1 trial of micvotabart pelidotin (PYX-201-101) enrolled 80 patients, with a therapeutically active dose response range identified between 3.6 mg/kg and 5.4 mg/kg IV Q3W [55]. - The preliminary efficacy analysis included 65 patients, showing evidence of tumor regression across all nine solid tumor types, with a 26% overall response rate (ORR) in six solid tumor types at the therapeutic dose range of 3.6 mg/kg – 5.4 mg/kg IV Q3W [71]. - The study achieved a confirmed 50% overall response rate (ORR) in patients with R/M HNSCC, with a disease control rate (DCR) of 100% based on RECIST 1.1 criteria [78]. Safety and Efficacy - Preliminary data from the Phase 1 trial indicated a manageable safety profile, with 52% of patients dosed at the 5.4 mg/kg level [55]. - Micvotabart pelidotin demonstrated a favorable safety profile, with only 1 patient discontinuing due to treatment-related adverse effects (TRAEs) and no Grade 5 TRAEs observed [62]. - The trial reported a 0% incidence rate of Grade 3 and 4 TRAEs in the therapeutic dose range of 3.6 mg/kg – 5.4 mg/kg IV Q3W [64]. - The median duration of response in efficacy evaluable patients was 115 days (16 weeks) as of the data cut-off date of October 4, 2024 [78]. - The drug's pharmacokinetic profile showed high systemic bioavailability and stability in circulation, differentiating it from other approved antibody-drug conjugates (ADCs) [60]. Regulatory Designations - The FDA granted Fast Track Designation to micvotabart pelidotin for treating adult patients with R/M HNSCC whose disease progressed after platinum-based chemotherapy and anti-PD-(L)1 therapy [27]. - The FDA granted Fast Track Designation for micvotabart pelidotin for treating adults with R/M HNSCC in February 2025 [203]. - In May 2023, the FDA granted Orphan Drug Designation for micvotabart pelidotin in the treatment of pancreatic cancer [208]. - Orphan Drug Designation provides seven years of market exclusivity if no same drug was previously approved for the same orphan condition [207]. Collaborations and Partnerships - A Clinical Trial Collaboration and Supply Agreement was established with Merck for a study of micvotabart pelidotin in combination with KEYTRUDA® [31]. - The company is actively engaging with potential partners to monetize its intellectual property estate, including inactive programs and biologics technology platforms [37]. - The company has entered into a license agreement with the University of Chicago, which includes potential development and commercial milestones of up to $7.7 million and annual maintenance fees starting at $10,000 [118]. - The company has entered into a license agreement with Biosion USA, Inc. for the development and commercialization rights for a Siglec-15 targeting antibody, now referred to as PYX-106 [126]. Market and Competitive Landscape - The company faces competition from major pharmaceutical and biotechnology companies, as well as alternative therapeutic modalities such as cell therapies and bispecific antibodies [109]. - The company has significant competition in the HNSCC indication, with notable competitors including Merus and Bicara targeting similar patient populations [111]. - Head and Neck Cancer (HNC) accounts for approximately 4.5% of global cancer diagnoses, with an estimated 1,464,550 new cases and 487,993 deaths in 2020 [38]. - In the U.S., there are approximately 59,000 cases of HNSCC annually, with a 13% 5-year survival rate in the R/M (Stage IVC) setting [39]. Financial Obligations and Fees - Under the Pfizer License Agreement, the company is obligated to pay up to $665 million in future contingent payments for the first four licensed ADCs, along with tiered royalties on net sales ranging from low single digits to mid-teens [123]. - The company paid an upfront fee of $10.0 million under the Biosion License Agreement and is obligated to pay up to $217.5 million in future contingent payments for normal approval and $222.5 million for Accelerated Approval [127]. - The cost of preparing and submitting a BLA is substantial, with a user fee of $4,310,002 for BLAs requiring clinical data for fiscal year 2025 [212]. - Annual program fees for each prescription product under an approved BLA are currently $403,889 for fiscal year 2025 [212]. Intellectual Property - The company has a patent portfolio comprising 33 different patent families, including those directed to compositions of matter for antibodies and antibody-drug conjugates [146]. - The patent family for micvotabart pelidotin includes granted patents in multiple countries, with a 20-year term running through 2037, absent any available patent term adjustments [149]. - The company has sole ownership of a patent family for dosage and treatment regimens of micvotabart pelidotin, with a provisional patent application filed in the United States, running through 2045 [152]. - The company has exclusively licensed a patent family related to cytotoxic peptides and antibody-drug conjugates from Pfizer, with granted patents in multiple countries and a 20-year term running through 2032 [153]. - The company has acquired a patent family for anti-CD123 antibody-drug conjugates, with granted patents in several countries and a term running through 2038 [156].

Financial Performance - The company reported a net loss of $77.3 million, or ($1.32) per common share, for the year ended December 31, 2024, compared to a net loss of $73.8 million, or ($1.85) per common share, in 2023[12]. - Total revenues for 2024 were $16.1 million, including $8.1 million in royalty revenues and $8.0 million from the sale of royalty rights[15]. - Research and development expenses increased to $58.7 million for the year ended December 31, 2024, compared to $49.6 million in 2023, primarily due to clinical trial-related expenses[12]. - General and administrative expenses decreased to $25.4 million in 2024 from $32.6 million in 2023, attributed to lower employee costs and reduced legal and consulting fees[12]. - A workforce reduction of approximately 20% was implemented to streamline operations and focus resources on the micvotabart pelidotin clinical program[7]. Cash and Assets - As of December 31, 2024, Pyxis Oncology had cash and cash equivalents of $128.4 million, sufficient to fund operations into the second half of 2026[12]. - Total current assets increased to $132,440 million in December 2024, up from $124,604 million in December 2023, representing a growth of 6.5%[17]. - Cash and cash equivalents rose significantly to $19,473 million, compared to $9,664 million in the previous year, marking an increase of 101.4%[17]. - Total assets decreased to $157,181 million from $173,726 million, a decline of 9.6%[17]. - Total stockholders' equity slightly decreased to $120,751 million from $125,704 million, reflecting a decline of 4.0%[17]. Liabilities and Deficits - Total liabilities decreased to $36,430 million in December 2024 from $48,022 million in December 2023, a reduction of 24.2%[17]. - Accounts payable increased to $4,859 million, up from $3,896 million, indicating a rise of 24.6%[17]. - Accumulated deficit widened to $(363,556) million in December 2024 from $(286,225) million in December 2023, an increase of 27.1%[17]. - Operating lease liabilities, net of current portion, decreased to $18,650 million from $20,099 million, a decrease of 7.2%[17]. - Deferred revenues were reported as zero in December 2024, down from $7,660 million in December 2023[17]. Clinical Developments - Pyxis Oncology achieved a confirmed 50% objective response rate in its Phase 1 trial of micvotabart pelidotin for recurrent and metastatic head and neck squamous cell carcinoma[4]. - The company received Fast Track Designation from the FDA for micvotabart pelidotin targeting adult patients with recurrent and metastatic head and neck squamous cell carcinoma[4]. - Preliminary data from ongoing trials of micvotabart pelidotin are expected in the second half of 2025 and the first half of 2026[4]. - The company recorded a non-cash impairment loss of $21.0 million related to in-process research and development intangible asset for PYX-107[12].

Core Insights - The company has reported positive preliminary data from the Phase 1 dose escalation trial of micvotabart pelidotin (MICVO), achieving a confirmed 50% objective response rate in recurrent and metastatic head and neck squamous cell carcinoma (R/M HNSCC) [1][6] - MICVO has received Fast Track Designation from the U.S. FDA for treating adult patients with R/M HNSCC whose disease has progressed after platinum-based chemotherapy and anti-PD-(L)1 therapy [1][10] - The company has initiated monotherapy expansion cohorts for MICVO in 2L and 3L R/M HNSCC patients, with preliminary data expected in 2H25 and 1H26 [1][7] Pipeline Updates - The lead therapeutic candidate, micvotabart pelidotin, has shown significant tumor regression in multiple tumor types during the Phase 1 dose escalation study [4] - A combination study of MICVO with Merck's anti-PD-1 therapy, KEYTRUDA®, has been initiated, with preliminary data expected in 2H25 [5][7] - The company has streamlined its organization and reduced its workforce by approximately 20% to focus resources on the MICVO clinical program [5][8] Financial Overview - As of December 31, 2024, the company had cash and cash equivalents of $128.4 million, sufficient to fund operations into the second half of 2026 [11] - Research and development expenses increased to $58.7 million in 2024 from $49.6 million in 2023, primarily due to clinical trial-related expenses [11] - The net loss for the year ended December 31, 2024, was $77.3 million, or $1.32 per common share, compared to a net loss of $73.8 million, or $1.85 per common share, in 2023 [11][16]

Company Overview - Pyxis Oncology, Inc. is a clinical-stage company focused on developing next-generation therapeutics for difficult-to-treat cancers [3] - The company is working on PYX-201, an antibody-drug conjugate (ADC) targeting EDB+FN, which is currently in Phase 1 clinical studies for various solid tumors [3] Upcoming Events - Lara S. Sullivan, M.D., President and CEO of Pyxis Oncology, will participate in a fireside chat at the Leerink Partners Global Healthcare Conference on March 10, 2025, at 2:20 PM EST [1] - A live webcast and replay of the fireside chat will be available on the company's Investor Relations website [2]

Core Insights - Pyxis Oncology, Inc. has received Fast Track Designation from the FDA for its drug PYX-201, aimed at treating recurrent or metastatic head and neck squamous cell carcinoma (R/M HNSCC) in patients who have progressed after platinum-based chemotherapy and anti-PD-(L)1 therapy [1][2] Company Overview - Pyxis Oncology is a clinical-stage company focused on developing next-generation therapeutics for challenging cancers, with PYX-201 being its lead clinical candidate [8] - PYX-201 is an antibody-drug conjugate (ADC) that targets Extradomain-B Fibronectin (EDB+FN), a component of the tumor extracellular matrix, designed to kill cancer cells and address tumor microenvironment factors [5][8] Industry Context - Head and Neck Cancer (HNC) is the sixth most common cancer globally, with approximately 1,464,550 new cases and 487,993 deaths annually [3] - Nearly 50% of HNSCC cases progress to recurrent or metastatic stages post-initial treatment, with a median overall survival of less than one year [3] - The incidence of HNSCC is projected to increase by 30% annually by 2030, driven by factors such as tobacco use, alcohol consumption, and HPV infections [3]

- Initiation of Phase 1/2 combination trial with PYX-201, an extracellular ADC targeting Extradomain-B Fibronectin (EDB+FN) and Merck's KEYTRUDA® (pembrolizumab) in multiple solid tumors - Phase 1 monotherapy trial expanded to include cohorts in recurrent/metastatic head and neck squamous cell carcinoma (R/M HNSCC) - Ongoing commitment to innovative cancer therapies for patients with limited treatment options BOSTON, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Pyxis Oncology, Inc. (NASDAQ:PYXS), a clinical-stage comp ...