Pyxis Oncology, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024. The company also provided a business update, reiterating the positive preliminary data from its Phase 1 dose escalation trial of micvotabart pelidotin (MICVO, formerly PYX-201), which showed a confirmed 50% objective response rate in recurrent and metastatic head and neck squamous cell carcinoma (R/M HNSCC).
The company confirmed it received Fast Track Designation from the FDA for MICVO in R/M HNSCC and has initiated monotherapy expansion cohorts for 2L and 3L R/M HNSCC patients, with preliminary data expected in the second half of 2025 and first half of 2026. Additionally, the combination study of MICVO with Merck’s KEYTRUDA® in R/M HNSCC patients has been initiated, with preliminary data also expected in the second half of 2025.
To support its focused clinical program, Pyxis Oncology streamlined its organization and implemented operational initiatives, including a workforce reduction of approximately 20%. The company projects its current cash runway will extend into the second half of 2026.
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