Pyxis Oncology reported full year 2025 financial results with total revenues of $13.9 million, net loss of $79.6 million or ($1.28) per share, and cash position of $68.3 million sufficient to fund operations into Q4 2026. The company completed target enrollment in the Phase 1 monotherapy dose expansion study of MICVO in 2L+ R/M HNSCC and announced leadership appointments.
Key takeaways
Completed target enrollment (n=~40) in Phase 1 monotherapy dose expansion of MICVO in 2L+ R/M HNSCC in Q1 2026.
Updated MICVO Phase 1 monotherapy data in 2L+ R/M HNSCC on track for mid-2026; Phase 1/2 combination with KEYTRUDA data for 2H 2026.
Cash, cash equivalents, restricted cash and short-term investments of $68.3 million as of December 31, 2025, with runway into Q4 2026.
FY2025 total revenues $13.9 million vs $16.1 million in 2024; net loss $79.6 million or ($1.28) per share vs $77.3 million or ($1.32) per share.
R&D expenses $73.7 million in FY2025 vs $58.7 million in 2024; G&A $22.2 million vs $25.4 million.
Appointed Thomas Civik as Interim Chief Executive Officer in February 2026.