Pyxis Oncology Provides Business Update and Reports Third Quarter 2025 Financial Results

Core Insights - Pyxis Oncology is advancing its lead candidate, micvotabart pelidotin (MICVO), targeting recurrent and metastatic head and neck squamous cell carcinoma (R/M HNSCC) with preliminary data expected in Q4 2025 [1][5] Pipeline & Clinical Updates - Ongoing Phase 1 clinical studies of MICVO include monotherapy and combination approaches, with a focus on 2L/3L R/M HNSCC patients and a collaboration with Merck for combination therapy with KEYTRUDA® [4][5] - Preliminary data from the Phase 1 monotherapy dose expansion study and the Phase 1/2 combination dose escalation study will be presented, highlighting MICVO's unique mechanism of action and its potential to improve treatment outcomes [4][5] - Recent translational data presented at ESMO 2025 and AACR-NCI-EORTC provided insights into MICVO's pharmacodynamics and its effects on tumor microenvironment remodeling and immune activation [4][5] Financial Results - As of September 30, 2025, Pyxis Oncology reported cash and cash equivalents of $77.7 million, sufficient to fund operations into the second half of 2026 [11] - Research and development expenses for Q3 2025 were $17.8 million, slightly up from $17.7 million in Q3 2024, with a notable increase in MICVO program-specific costs [11] - The net loss for Q3 2025 was $22.0 million, consistent with the previous year, reflecting ongoing investment in clinical development [11][14]