Pyxis Oncology, Inc. develops clinical-stage cancer therapeutics, with news centered on micvotabart pelidotin, or MICVO, an investigational antibody-drug conjugate targeting extradomain-B fibronectin in the tumor extracellular matrix. Company updates focus on MICVO in solid tumors, including recurrent or metastatic head and neck squamous cell carcinoma, and on monotherapy and pembrolizumab combination development.
Recurring developments include clinical and preclinical data presentations, translational research on MICVO’s mechanism of action, quarterly and annual financial results, corporate presentations, leadership changes, business development appointments, and capital actions tied to funding the company’s oncology pipeline.
Pyxis Oncology (PYXS) closed its public offering on October 1, 2026, raising approximately $110.0 million in upfront gross proceeds. It issued 36,047,919 common shares at $2.90 each and pre-funded warrants for 1,883,121 shares at $2.899 each, accompanied by common warrants for 49,310,352 shares.
The common warrants have a $3.50 exercise price and require an effective, stockholder-approved increase in authorized shares. Full cash exercise would bring total gross proceeds to approximately $282.6 million, before applicable expenses. Their expiration is linked to disclosure of MICVO Phase 1 overall survival data, expected in the first half of 2027. Pyxis intends to fund MICVO development, including the planned Headliner Phase 3 trial, and plans combination-study data in the fourth quarter of 2026.
Pyxis Oncology (Nasdaq: PYXS) priced a public offering expected to raise approximately $110 million before underwriting discounts, commissions and expenses. The offering includes 36,047,919 common shares, 1,883,121 pre-funded warrants and accompanying common warrants to purchase 49,310,352 shares. Each share and accompanying warrant costs $2.90; each pre-funded warrant and accompanying warrant costs $2.899. The common warrants have a $3.50 exercise price.
Full exercise of both warrant types would provide approximately $172.6 million in additional gross proceeds before applicable expenses. Common-warrant exercise requires shareholder approval and effectiveness of an amendment increasing authorized common shares. Closing is expected on or about October 1, 2026. Pyxis intends to use net proceeds to advance MICVO through clinical milestones, including its planned Headliner Phase 3 trial, and for working capital and general corporate purposes.
Pyxis Oncology (Nasdaq: PYXS) has commenced a proposed public offering of common stock or pre-funded warrants, each accompanied by a common warrant. Each accompanying common warrant covers one share. Pyxis intends to use net proceeds to advance MICVO, including Headliner, its planned Phase 3 trial in second-line and beyond recurrent/metastatic head and neck squamous cell carcinoma.
Common warrants become exercisable only after stockholder approval of an authorized-share increase and the amendment's effectiveness. They expire at the earlier of the fifth anniversary of that effective date or 30 calendar days after the later of that date and public disclosure of overall survival data from MICVO's ongoing Phase 1 monotherapy study. Pyxis expects those data in the first half of 2027. The proposed offering is subject to market and other conditions; completion, size and terms remain uncertain.
Pyxis Oncology (PYXS) reported updated Phase 1 monotherapy data for micvotabart pelidotin (MICVO) in 2L+ recurrent/metastatic head and neck squamous cell carcinoma as of August 18, 2026.
Among 33 efficacy-evaluable patients treated at 5.4 mg/kg with dose capping, MICVO achieved a 36% confirmed objective response rate and 94% disease control rate, with 75% of responders improving by the first 6‑week scan and 83% showing >50% tumor reduction. Median progression-free survival was 6.2 months, and 12‑month overall survival probability was 79%, while median overall survival was not reached. Clinical activity was observed across HPV status and prior‑treatment subgroups.
In 35 safety-evaluable patients, no new safety signals were seen; 91.4% had treatment-related adverse events and 54.3% had Grade ≥3 events, with no treatment-related deaths. Dose capping reduced adverse events in high body weight patients. The company plans an FDA End of Phase 2 meeting in Q1 2027 and to start a pivotal ~500‑patient Phase 3 Headliner™ monotherapy trial in mid‑2027.
Pyxis Oncology (PYXS) will host a live webcast on September 9, 2026 at 7:30 a.m. ET to present updated clinical data from its ongoing Phase 1 monotherapy study of micvotabart pelidotin (MICVO) in second-line and beyond recurrent/metastatic head and neck squamous cell carcinoma (2L+ R/M HNSCC).
The event will review scientific rationale for MICVO, implications of the evolving R/M HNSCC treatment landscape, detailed analyses of patients treated at 5.4 mg/kg every three weeks, updated efficacy and safety from the expansion trial, and next clinical development steps. The webcast will feature Alan L. Ho, M.D., Ph.D., of Memorial Sloan Kettering Cancer Center and Pyxis management, with a replay available on the company’s investor website.
Pyxis Oncology (PYXS) appointed Thomas Civik as Chief Executive Officer and Chairman of the Board, effective September 4, 2026.
Civik had been Interim CEO since February 2026 and a director since 2021. Co-founder and founding Chairman John Flavin becomes Lead Independent Director and remains on the Board. The leadership transition is framed as supporting progress of lead candidate MICVO through upcoming clinical milestones in recurrent/metastatic head and neck squamous cell carcinoma (R/M HNSCC).
Civik’s prior roles include President and CEO of Five Prime Therapeutics, acquired by Amgen for $1.9 billion, and senior positions at ImCheck Therapeutics, Repare Therapeutics, Foundation Medicine and Genentech. Pyxis expects updated data from its ongoing Phase 1 MICVO monotherapy study in 2L+ R/M HNSCC in Fall 2026 and from its Phase 1/2 pembrolizumab combination study in 1L R/M HNSCC in Q4 2026. MICVO has FDA Fast Track designation in R/M HNSCC after platinum and anti‑PD-(L)1 therapy.
Pyxis Oncology (Nasdaq: PYXS) announced that Interim CEO and Director Tom Civik will participate in fireside chats at three investor conferences in September 2026: the Wells Fargo 21st Annual Healthcare Conference in Boston on September 10, the Cantor Global Healthcare Conference in New York on September 11, and the H.C. Wainwright 28th Annual Global Investment Conference in New York on September 14.
Live webcasts and replays will be available on the Investor Relations section of the company’s website. Pyxis Oncology’s lead candidate, micvotabart pelidotin (MICVO), is a first-in-concept antibody-drug conjugate targeting extradomain-B of fibronectin and is being evaluated in Phase 1 and Phase 1/2 studies in recurrent and metastatic head and neck squamous cell carcinoma and other solid tumors.
Pyxis Oncology (Nasdaq: PYXS) reported second quarter 2026 net loss of $25.3 million, or ($0.40) per share, versus $18.4 million, or ($0.30) per share, a year earlier. Research and development expense was $16.1 million (down from $17.1 million), while general and administrative expense rose to $9.9 million from $5.4 million.
As of June 30, 2026, Pyxis held $34.5 million in cash, cash equivalents, restricted cash and short-term investments. A July 2, 2026 private placement provided ~$50 million in upfront gross proceeds and could add ~$64 million on warrant exercise, extending cash runway into Q2 2027. Updated MICVO Phase 1 monotherapy data in 2L+ R/M HNSCC are expected in Fall 2026, with Phase 1/2 combination data with pembrolizumab for 1L R/M HNSCC anticipated in Q4 2026. Shares outstanding were 83.4 million as of August 12, 2026.
Pyxis Oncology (Nasdaq: PYXS) entered definitive agreements for a private placement of about $50 million upfront, plus up to $64 million more if warrants are fully exercised, for potential total gross proceeds of $114 million.
The financing, led by BVF Partners, is expected to extend the cash runway into Q2 2027 and fund MICVO (micvotabart pelidotin) through key milestones, including updated Phase 1 monotherapy data in Fall 2026 and Phase 1/2 combination data in Q4 2026. The deal covers 19,600,153 common shares at $2.551 and warrants for the same number of shares at an exercise price of $3.289, with closing expected around July 2, 2026.
Pyxis Oncology (Nasdaq: PYXS) reported first quarter 2026 results and progress for its ADC micvotabart pelidotin (MICVO) in recurrent/metastatic head and neck squamous cell carcinoma.
Key updates include completed Phase 1 monotherapy dose-expansion enrollment, planned 2026 data readouts, new preclinical combination data, leadership additions, $42.5 million cash, and runway into Q4 2026.