Pyxis Oncology (NASDAQ:PYXS), a clinical-stage biopharmaceutical company focused on next-generation therapeutics for difficult-to-treat cancers, announced it has completed target enrollment of approximately 40 patients in the Phase 1 monotherapy dose-expansion cohort of micvotabart pelidotin (MICVO) in patients with second-line or later recurrent/metastatic head and neck squamous cell carcinoma (R/M HNSCC).
The company expects to provide updated data from the monotherapy arm in mid-2026 and from its ongoing combination study with pembrolizumab in the second half of 2026.
MICVO is an investigational first-in-concept antibody-drug conjugate (ADC) targeting extradomain-B of fibronectin (EDB+FN), a non-cellular component of the tumor extracellular matrix.
As of the latest reporting period, Pyxis Oncology held $68.3 million in cash and cash equivalents, which the company projects will provide a runway into the fourth quarter of 2026.
For the full year 2025, the company reported revenue of $13.9 million, research and development expenses of $73.7 million, general and administrative expenses of $22.2 million, and a net loss of $79.6 million.
In a separate leadership update, Pyxis Oncology appointed Thomas Civik, a member of its board of directors, as interim chief executive officer.
The company also completed an $11 million upfront royalty sale related to rights for Enzeshu.