Pyxis Oncology Reports Q2 2025 Revenue of $2.8M and Advances Clinical Trials for MICVO in Head and Neck Cancer.

Pyxis Oncology reported $2.8mln Q2 2025 revenue, primarily from a milestone payment for suvemcitug approval in China. The company has $90.4mln in cash and investments, supporting operations until H2 2026. Significant clinical advancements for MICVO in head and neck cancer are anticipated in late 2025 and early 2026.

Pyxis Oncology, Inc. (Nasdaq: PYXS), a clinical-stage company focused on developing antibody-drug conjugate (ADC) therapeutics for difficult-to-treat cancers, reported its financial results for the second quarter (Q2) 2025. The company's Q2 2025 revenue totaled $2.8 million, primarily driven by a milestone payment of $2.8 million for the approval of suvemcitug (BD0801) in China by the National Medical Products Administration [1].

As of June 30, 2025, Pyxis Oncology had $90.4 million in cash and cash equivalents, including restricted cash and short-term investments. The company believes that its current cash position will be sufficient to fund operations into the second half of 2026 [1].

Significant clinical advancements for Pyxis Oncology's lead candidate, micvotabart pelidotin (MICVO), are anticipated in the late second half of 2025 and the first half of 2026. The company's Phase 1 monotherapy expansion study of MICVO for recurrent and metastatic head and neck squamous cell carcinoma (R/M HNSCC) patients, as well as its Phase 1/2 combination study of MICVO and KEYTRUDA® (pembrolizumab), are progressing well with preliminary data expected by the end of 2025 [1].

Pyxis Oncology's strong focus on research and development (R&D) is evident in its Q2 2025 expenses, which totaled $17.1 million, compared to $14.0 million in Q2 2024. The increase in expenses was primarily due to increased manufacturing and clinical trial-related costs for MICVO [1].

The company's general and administrative expenses decreased to $5.4 million in Q2 2025 from $6.1 million in Q2 2024, primarily due to lower corporate insurance costs, facilities costs, and legal, professional, and consulting fees [1].

Pyxis Oncology's Q2 2025 net loss was $18.4 million, or ($0.30) per common share, compared to $17.3 million, or ($0.29) per common share, in Q2 2024. Excluding non-cash stock-based compensation expense, the net loss for Q2 2025 was $15.3 million, compared to $14.4 million in Q2 2024 [1].

Pyxis Oncology's strategic partnership with Merck and the milestone payment from Simcere Pharmaceutical Group Limited for suvemcitug approval in China have strengthened the company's financial position and supported its near-term clinical and regulatory goals [1, 2].

References:
[1] https://finance.yahoo.com/news/pyxis-oncology-reports-second-quarter-200500771.html
[2] https://www.ainvest.com/news/pyxis-oncology-high-potential-biotech-play-term-clinical-catalysts-strengthening-financial-position-2508/