Pyxis Oncology, Inc. (PYXS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PYXS SEC filings page.
Pyxis Oncology, Inc. (PYXS) reported $13.9M in revenue for fiscal year 2025, down 14.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Pyxis remains a development-stage company: small revenue funds little of its research spending, while the balance sheet contracts.
From FY2024 to FY2025, gross margin fell 14.3 percentage points as revenue declined14.2% , indicating the commercial base is not yet stable. R&D rose to$73.7M while operating cash outflow remained$63.5M , showing development—not commercial scale—still drives cash needs.
Cash conversion remains unfavorable: FY2025 free cash flow was nearly the same as operating cash flow, both about
The balance sheet contracted sharply: total assets fell 42.0% and total equity fell
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Pyxis Oncology, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Pyxis Oncology, Inc. held $66.9M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $63.5M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Pyxis Oncology, Inc. scores 34/100 among other emerging companies.
Pyxis Oncology, Inc. had 63M shares outstanding at the end of fiscal year 2025, against 62M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Pyxis Oncology, Inc. scores 59/100 among other emerging companies.
Pyxis Oncology, Inc. spent $73.7M on research and development in fiscal year 2025, which was 75.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Pyxis Oncology, Inc. scores 93/100 among other emerging companies.
Pyxis Oncology, Inc. reported revenue of $13.9M in fiscal year 2025, against $16.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Pyxis Oncology, Inc. scores 25/100 among other emerging companies.
Pyxis Oncology, Inc.'s operations used $63.5M of cash in fiscal year 2025, against $57.7M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Pyxis Oncology, Inc. scores 51/100 among other emerging companies.
Pyxis Oncology, Inc.'s cash, cash equivalents and investments came to $66.9M at the end of fiscal year 2025, against $38.1M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Pyxis Oncology, Inc. scores 71/100 among other emerging companies.
Pyxis Oncology, Inc. scores -6.34, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($169.3M) relative to total liabilities ($38.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Pyxis Oncology, Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Pyxis Oncology, Inc. reported a net loss of $79.6M while operations used $63.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Pyxis Oncology, Inc.'s EBITDA was -$25.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 33.7% from the same quarter a year earlier. Against the prior quarter it is down 7.5%.
Pyxis Oncology, Inc. reported -$25.3M in net income in Q2 2026. This represents a decrease of 38.1% from the same quarter a year earlier. Against the prior quarter it is down 8.9%.
Pyxis Oncology, Inc. earned -$0.40 per diluted share (EPS) in Q2 2026. This represents a decrease of 33.3% from the same quarter a year earlier. Against the prior quarter it is down 8.1%.
Not reported for Q2 2026.
Cash & Balance Sheet
Pyxis Oncology, Inc. held $18.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Pyxis Oncology, Inc.'s ROE was -221.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 200.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 147.1 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Pyxis Oncology, Inc. invested $16.1M in research and development in Q2 2026. This represents a decrease of 6.3% from the same quarter a year earlier. Against the prior quarter it is down 19.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
PYXS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | $2.8M | N/A | N/A | N/A |
| R&D Expenses | $16.1M-6.3% | $20.0M+17.2% | N/A | $17.8M+0.4% | $17.1M+22.8% | $17.0M+30.8% | N/A | $17.7M+20.8% |
| SG&A Expenses | $9.9M+82.7% | $4.4M-25.4% | N/A | $5.7M-6.0% | $5.4M-10.6% | $5.9M-28.8% | N/A | $6.0M-43.6% |
| Operating Income | -$26.0M-31.6% | -$24.4M-6.3% | N/A | -$23.5M+1.2% | -$19.8M+1.4% | -$22.9M-308.8% | N/A | -$23.8M+6.3% |
| EBITDA | -$25.7M-33.7% | -$23.9M-6.9% | N/A | -$22.9M+0.4% | -$19.2M+1.2% | -$22.4M-398.2% | N/A | -$23.0M+7.3% |
| Income Tax | $0-100.0% | N/A | N/A | N/A | $283K | N/A | N/A | N/A |
| Net Income | -$25.3M-38.1% | -$23.3M-10.0% | N/A | -$22.0M-3.8% | -$18.4M-6.1% | -$21.2M-549.8% | N/A | -$21.2M+8.0% |
| EPS (Basic) | -$0.40-33.3% | -$0.37-5.7% | -$0.29+50.8% | -$0.350.0% | -$0.30-3.4% | -$0.35-483.3% | -$0.59-78.8% | -$0.35+37.5% |
| EPS (Diluted) | -$0.40-33.3% | -$0.37-5.7% | -$0.29+50.8% | -$0.350.0% | -$0.30-3.4% | -$0.35-483.3% | -$0.59-78.8% | -$0.35+37.5% |
| Diluted Shares (Avg) | 64M+3.3% | 63M+4.0% | N/A | 63M+3.0% | 62M+2.4% | 61M+19.0% | N/A | 61M+46.9% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
PYXS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $54.9M-55.4% | $64.3M-52.7% | $91.5M-41.8% | $105.6M-45.9% | $123.2M-40.9% | $135.9M-38.3% | $157.2M-9.5% | $195.3M+4.6% |
| Current Assets | $36.7M-63.2% | $45.6M-59.3% | $72.1M-45.6% | $83.1M-44.2% | $100.0M-37.9% | $111.9M-35.1% | $132.4M+6.3% | $148.9M+7.0% |
| Cash & Equivalents | $18.9M+75.7% | $5.8M-54.8% | $15.4M-20.8% | $8.9M-26.0% | $10.7M-57.2% | $12.8M-54.4% | $19.5M+101.5% | $12.1M-18.1% |
| Short-Term Investments | $14.1M-81.9% | $35.3M-62.0% | $51.4M-52.1% | $67.3M-49.3% | $78.2M-40.1% | $92.7M-28.2% | $107.5M-2.0% | $132.8M+12.3% |
| Accounts Receivable | N/A | N/A | N/A | N/A | $3.0M | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $43.5M+22.2% | $33.0M+0.8% | $38.1M+4.6% | $36.8M-11.5% | $35.6M-7.8% | $32.8M-9.2% | $36.4M-24.1% | $41.6M-14.6% |
| Current Liabilities | $27.5M+55.4% | $16.5M+14.6% | $21.1M+19.5% | $19.4M-4.6% | $17.7M+4.6% | $14.4M+2.0% | $17.7M-31.4% | $20.3M-28.3% |
| Non-Current Liabilities | $16.0M-10.5% | $16.5M-10.0% | $17.0M-9.4% | $17.4M-18.2% | $17.9M-17.5% | $18.3M-16.4% | $18.8M-15.8% | $21.3M+4.4% |
| Total Equity | $11.4M-86.9% | $31.3M-69.7% | $53.4M-55.8% | $68.8M-55.2% | $87.6M-48.4% | $103.1M-44.0% | $120.8M-3.9% | $153.7M+11.4% |
| Retained Earnings | -$491.8M-22.0% | -$466.4M-21.2% | -$443.2M-21.9% | -$425.1M-29.6% | -$403.1M-31.4% | -$384.7M-32.9% | -$363.6M-27.0% | -$328.0M-21.2% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
PYXS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$18.2M-5.5% | -$26.0M-15.4% | -$10.4M+45.9% | -$13.3M+9.5% | -$17.3M-474.1% | -$22.5M-8.8% | -$19.3M-26.5% | -$14.7M+16.6% |
| Depreciation & Amortization | $301K-43.7% | $459K-16.8% | $2.9M+426.7% | $527K-27.9% | $535K-8.5% | $552K-50.5% | $550K-20.3% | $731K+39.8% |
| Stock-Based Compensation | $5.5M+83.3% | $1.2M-66.7% | N/A | $3.1M+3.1% | $3.0M+5.0% | $3.6M-15.9% | N/A | $3.0M-42.4% |
| Capital Expenditures | N/A | N/A | $0 | N/A | N/A | N/A | $0 | $0-100.0% |
| Free Cash Flow | N/A | N/A | -$10.4M+45.9% | N/A | N/A | N/A | -$19.3M-26.5% | -$14.7M+16.9% |
| Investing Cash Flow | $21.3M+39.2% | $16.4M+3.5% | $16.3M-39.0% | $11.5M+143487.5% | $15.3M+382500.0% | $15.8M+185.5% | $26.7M+160.6% | -$8K-100.1% |
| Financing Cash Flow | $10.0M+15016.4% | -$25K | $669K+1238.0% | -$8K-100.5% | -$67K-160.9% | $0-100.0% | $50K+300.0% | $1.7M+1067.8% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PYXS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | -700.4% | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | -650.9% | N/A | N/A | N/A |
| Return on Equity | -221.6%-200.6pp | -74.4%-53.9pp | N/A | -32.0%-18.2pp | -20.9%-10.8pp | -20.5%-18.8pp | N/A | -13.8%+2.9pp |
| Return on Assets | -46.2%-31.3pp | -36.2%-20.6pp | N/A | -20.8%-10.0pp | -14.9%-6.6pp | -15.6%-14.1pp | N/A | -10.9%+1.5pp |
| Current Ratio | 1.34-4.3x | 2.76-5.0x | 3.41-4.1x | 4.29-3.0x | 5.65-3.9x | 7.75-4.4x | 7.49+2.7x | 7.33+2.4x |
| Debt-to-Equity | 3.80+3.4x | 1.06+0.7x | 0.71+0.4x | 0.54+0.3x | 0.41+0.2x | 0.32+0.1x | 0.30-0.1x | 0.27-0.1x |
| Asset Turnover | N/A | N/A | N/A | N/A | 0.02 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Pyxis Oncology, Inc. PYXS | FY2025 | $13.9M | -$79.6M | N/A | $169.3M | 56/100 |
| Biomea Fusion, Inc. BMEA | FY2025 | N/A | -$61.8M | N/A | $102.9M | — |
| Corbus Pharmaceuticals Holdings, Inc. CRBP | FY2025 | N/A | -$78.5M | N/A | $104.1M | — |
| Zentalis Pharmaceuticals, Inc. ZNTL | FY2025 | $0 | -$137.1M | N/A | $249.9M | — |
| TuHURA Biosciences, Inc. HURA | FY2025 | $0 | -$31.0M | N/A | $124.9M | — |
| KALA BIO, Inc. KALA | FY2025 | $0 | -$27.0M | N/A | $5.7M | — |
Where Pyxis Oncology, Inc. Ranks
Frequently Asked Questions
What is Pyxis Oncology, Inc.'s annual revenue?
Pyxis Oncology, Inc. (PYXS) reported $13.9M in total revenue for fiscal year 2025. This represents a -14.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pyxis Oncology, Inc.'s revenue growing?
Pyxis Oncology, Inc. (PYXS) revenue declined by 14.2% year-over-year, from $16.1M to $13.9M in fiscal year 2025.
Is Pyxis Oncology, Inc. profitable?
No, Pyxis Oncology, Inc. (PYXS) reported a net income of -$79.6M in fiscal year 2025.
What is Pyxis Oncology, Inc.'s EBITDA?
Pyxis Oncology, Inc. (PYXS) had EBITDA of -$79.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Pyxis Oncology, Inc.'s gross margin?
Pyxis Oncology, Inc. (PYXS) had a gross margin of 82.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pyxis Oncology, Inc.'s return on equity (ROE)?
Pyxis Oncology, Inc. (PYXS) has a return on equity of -149.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pyxis Oncology, Inc.'s free cash flow?
Pyxis Oncology, Inc. (PYXS) recorded an outflow of $63.5M in free cash flow during fiscal year 2025. This represents a -9.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pyxis Oncology, Inc.'s operating cash flow?
Pyxis Oncology, Inc. (PYXS) recorded an outflow of $63.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Pyxis Oncology, Inc.'s total assets?
Pyxis Oncology, Inc. (PYXS) had $91.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pyxis Oncology, Inc.'s capital expenditures?
Pyxis Oncology, Inc. (PYXS) invested $9K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Pyxis Oncology, Inc. spend on research and development?
Pyxis Oncology, Inc. (PYXS) invested $73.7M in research and development during fiscal year 2025.
What is Pyxis Oncology, Inc.'s current ratio?
Pyxis Oncology, Inc. (PYXS) had a current ratio of 3.41 as of fiscal year 2025, which is generally considered healthy.
What is Pyxis Oncology, Inc.'s debt-to-equity ratio?
Pyxis Oncology, Inc. (PYXS) had a debt-to-equity ratio of 0.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pyxis Oncology, Inc.'s return on assets (ROA)?
Pyxis Oncology, Inc. (PYXS) had a return on assets of -87.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pyxis Oncology, Inc.'s P/E ratio?
Pyxis Oncology, Inc. (PYXS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $169.3M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Pyxis Oncology, Inc.'s price-to-sales ratio?
Pyxis Oncology, Inc. (PYXS) trades at 12.2x sales, its market capitalization divided by revenue of $13.9M revenue, FY2025. The market capitalization is $169.3M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Pyxis Oncology, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Pyxis Oncology, Inc. (PYXS) held $66.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $63.5M over that year. Dividing the one by the other, the reported balance equals about 13 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Pyxis Oncology, Inc.'s Altman Z-Score?
Pyxis Oncology, Inc. (PYXS) has an Altman Z-Score of -6.34, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Pyxis Oncology, Inc.'s Piotroski F-Score?
Pyxis Oncology, Inc. (PYXS) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pyxis Oncology, Inc.'s earnings high quality?
Pyxis Oncology, Inc. (PYXS) reported a net loss of $79.6M while operations used $63.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Pyxis Oncology, Inc.?
Pyxis Oncology, Inc. (PYXS) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.