Pyxis Oncology, Inc. reported its financial results for the first quarter ended March 31, 2025. The company announced a net loss of $21.16 million for the quarter, a significant increase compared to a net loss of $3.26 million in the same period a year ago. Basic loss per share from continuing operations was $0.35, up from $0.06 in the prior year.
Despite the increased net loss, the company reaffirmed its preclinical data and stated it remains on track to report preliminary data from its Phase 1 monotherapy expansion cohorts for 2L/3L R/M HNSCC patients in the second half of 2025 and first half of 2026. Preliminary data from the Phase 1 combination trial of MICVO with pembrolizumab is also expected in the second half of 2025.
Pyxis Oncology reiterated its expected cash runway, which is projected to fund operations through data milestones and into the second half of 2026. The company continues to focus on advancing micvotabart pelidotin as a potential therapy for difficult-to-treat cancers.
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