Welcome to our dedicated page for Pyxis Oncology news (Ticker: PYXS), a resource for investors and traders seeking the latest updates and insights on Pyxis Oncology stock.
Pyxis Oncology, Inc. (symbol: PYXS) is a clinical stage biotechnology company focused on the development of next-generation therapeutics designed to combat difficult-to-treat cancers. The company's mission is to enhance the body's immune response to cancer by targeting specific tumor micro-environments, employing cutting-edge antibody-drug conjugates (ADCs) and immuno-oncology (IO) strategies. Pyxis Oncology aims to improve the quality of life for cancer patients through innovative treatments that directly kill tumor cells and address the pathological factors that enable cancer's proliferation and immune evasion.
Pyxis Oncology is currently developing multiple therapeutic candidates, including PYX-201 and PYX-106, which are in Phase 1 clinical studies targeting a variety of solid tumors. These candidates are designed to be effective both as monotherapies and in combination with existing treatments, providing versatile approaches to cancer therapy. PYX-201 is being evaluated for its safety, tolerability, pharmacokinetics, pharmacodynamics, and efficacy in patients with advanced solid tumors. Similarly, PYX-106 is being assessed in a first-in-human, open-label, multicenter Phase 1 clinical study.
In addition to its robust pipeline, Pyxis Oncology is backed by substantial financial support from institutional investors such as Deep Track Capital, Ridgeback Capital Investments L.P., Blue Owl Healthcare Opportunities, Laurion Capital Management, and StemPoint Capital L.P. Recently, the company secured additional financing to further its research and development efforts, with Leerink Partners and LifeSci Capital serving as placement agents for the private placement.
Pyxis Oncology is committed to translating its preclinical findings into effective clinical treatments. The company has also actively participated in key industry conferences, such as the Society for Immunotherapy of Cancer (SITC) annual meeting, where its research on PYX-201, PYX-106, and other candidates was presented through posters and oral presentations.
Looking forward, Pyxis Oncology has outlined several anticipated milestones, including upcoming financial results for Q4 and the full year 2023, and further updates on their clinical programs. Investors and stakeholders can stay informed through regular updates and detailed news releases.
For more information, visit the Pyxis Oncology website or contact Pamela Connealy, CFO and COO, at ir@pyxisoncology.com.
On March 31, 2023, Pyxis Oncology (Nasdaq: PYXS) announced the granting of restricted stock units totaling 54,010 shares and stock options for 67,513 shares to three new employees as part of its 2022 Inducement Plan. The vesting of these awards occurs over four years, with 25% vesting on the first anniversary, followed by monthly vesting for 36 months. The stock options feature a ten-year term with an exercise price of $4.01, reflecting the closing stock price on the grant date. This move aligns with Nasdaq Listing Rule 5635(c)(4), aimed at attracting talent to advance the company's mission against difficult-to-treat cancers.
Pyxis Oncology (Nasdaq: PYXS) reported full-year 2022 financial results and updates on its clinical trials. The company has initiated two Phase 1 trials for its candidates PYX-201 and PYX-106, with preliminary data expected by early 2024. As of year-end 2022, Pyxis maintained a strong balance sheet with $180.7 million in cash and no debt, funding operations into 1H 2025. Research and development expenses rose to $86.1 million, while general and administrative costs increased to $37.4 million, leading to a net loss of $120.7 million for 2022, equating to ($3.65) per share. The company also received FDA clearance for both candidates' INDs.
Pyxis Oncology (Nasdaq: PYXS) has achieved a major milestone by initiating dosing in a Phase 1 clinical trial of PYX-201, a novel antibody-drug conjugate targeting extradomain-B of fibronectin, which is overexpressed in various solid tumors. The trial aims to evaluate the safety and efficacy of PYX-201 with preliminary data expected in early 2024. The company emphasizes its innovative approach using three mechanisms of action to potentially improve treatment for patients with solid tumors. The trial is open to patients with relapsed or refractory cancers, paving the way for future therapeutic advancements.
Pyxis Oncology (Nasdaq: PYXS) is set to host investor meetings on February 15, 2023, during the SVB Securities Global Biopharma Conference, which will occur virtually. Key executives attending include Lara Sullivan, M.D. (President & CEO), Pamela Connealy (CFO), Jay Feingold, M.D., Ph.D. (CMO), and Jan Pinkas, Ph.D. (CSO). Institutional investors interested in participating can contact their SVB Securities representative or Jennifer Davis Ruff, VP of Investor Relations.
Pyxis Oncology focuses on developing next-generation therapeutics aimed at difficult-to-treat cancers, utilizing strategies such as antibody-drug conjugates and immuno-oncology programs.
On December 23, 2022, Pyxis Oncology (Nasdaq: PYXS) announced that its Compensation Committee granted a total of 52,560 restricted stock units and 65,701 stock options to five new employees under the 2022 Inducement Plan. These awards are part of the company’s strategy to attract talent as it develops next-generation therapeutics for tough cancers. The stock options, with an exercise price of $1.28, vest over four years, with a quarter vesting after the first year. This move aligns with Nasdaq regulations.
Pyxis Oncology has announced that the FDA granted IND clearances for its two product candidates: PYX-201, an antibody-drug conjugate, and PYX-106, an immunotherapy. Both candidates will enter Phase 1 clinical trials to assess their safety and anti-tumor activities against select solid tumors, such as breast and lung cancers. This marks a significant milestone for the company, as it extends its cash runway into 2025, enabling further clinical development of therapies aimed at addressing unmet medical needs in oncology.
Pyxis Oncology expands its licensing agreement with Pfizer, gaining exclusive rights to its antibody-drug conjugate (ADC) technology platform. This includes the ability to sublicense components to third parties, with a successful initial agreement already in place. The company is on track for IND applications for PYX-106 and PYX-201 by year-end. Financially, as of September 30, 2022, Pyxis has $200 million in cash, supporting operations into 2024. However, Q3 2022 reported a net loss of $27.7 million, reflecting rising R&D and administrative expenses.
On September 30, 2022, Pyxis Oncology (Nasdaq: PYXS) announced the grant of restricted stock units for 213,030 shares and stock options for 266,290 shares to 17 newly hired employees under its 2022 Inducement Plan. These awards are part of a strategy to attract talent and are in compliance with Nasdaq Listing Rule 5635(c)(4). The stock options have a ten-year term with an exercise price of $1.97. The vesting schedule includes 25% vesting on the first anniversary, with the balance vesting monthly over the following three years, contingent on continued employment.
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