Pyxis Oncology, Inc. PYXS
Pyxis Oncology is a clinical-stage oncology company advancing a development strategy focused on addressing unmet medical needs in patients with solid tumors with an immediate focus on head and neck squamous cell carcinoma (HNSCC).
Our lead product candidate, micvotabart pelidotin (MICVO, formerly PYX-201), is an investigational novel antibody-drug conjugate (ADC) that uniquely targets the splice variant of fibronectin, extradomain-B of fibronectin (EDB+FN), a non-cellular structural component of the extracellular matrix (ECM) in the tumor microenvironment (TME). EDB+FN is an isoform of fibronectin present in tumors that is negligibly expressed in normal adult tissues and facilitates cancer progression by playing multiple roles including promoting cell proliferation, adhesion, and migration, activating the integrin signaling pathway, stimulating angiogenesis and vascular remodeling, driving epithelial-mesenchymal transition (EMT), and establishing the pre-metastatic niche. We believe EDB+FN is a compelling target for cancer therapeutics as the physiological expression of EDB+FN is very low in healthy adult tissues, yet it is found to be highly expressed in a variety of solid tumors.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $13.9M | $16.1M | — | — | — | — | — |
| Cost of revenue | $2.4M | $475.0K | — | — | — | — | — |
| Gross profit | $11.5M | $15.7M | — | — | — | — | — |
| R&D | $73.7M | $58.7M | $49.6M | $86.1M | $51.1M | $9.0M | — |
| SG&A | $22.2M | $25.4M | $32.6M | $37.4M | $18.7M | $3.8M | — |
| Total operating expenses | — | — | $82.2M | $123.5M | $69.7M | $12.9M | — |
| Operating income | -$84.4M | -$89.5M | -$82.2M | -$123.5M | -$69.7M | -$12.9M | — |
| Pre-tax income | -$78.2M | -$79.5M | -$73.8M | — | — | — | — |
| Income tax | $1.4M | $2.2M | — | — | — | — | — |
| Net income | -$79.6M | -$77.3M | -$73.8M | -$120.7M | -$76.0M | -$12.8M | — |
| EPS, basic | -1.28 | -1.32 | -1.85 | -3.65 | -8.95 | — | — |
| EPS, diluted | -1.28 | -1.32 | -1.85 | -3.65 | -8.95 | -12.45 | — |
| Shares, diluted (wtd. avg.) | 62.1M | 58.4M | 39.9M | 33.0M | 8.5M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $15.4M | $19.5M | $9.7M | $179.3M | $274.7M | $8.1M | — |
| Short-term investments | $51.4M | $107.5M | $109.6M | — | — | — | — |
| Total current assets | $72.1M | $132.4M | $124.6M | $186.6M | $278.7M | $8.1M | — |
| Property, plant and equipment | $8.0M | $9.9M | $11.9M | $11.2M | $1.0M | $1.1M | — |
| Other intangibles | $0 | $2.6M | $24.3M | — | — | — | — |
| Total assets | $91.5M | $157.2M | $173.7M | $211.4M | $280.0M | $10.2M | — |
| Accounts payable | $10.9M | $4.9M | $3.9M | $7.1M | $12.0M | $1.1M | — |
| Total current liabilities | $21.1M | $17.7M | $25.8M | $31.6M | $18.7M | $3.7M | — |
| Total liabilities | $38.1M | $36.4M | $48.0M | $50.6M | $18.7M | $3.9M | — |
| Retained earnings | -$443.2M | -$363.6M | -$286.2M | -$212.4M | -$91.7M | -$15.7M | — |
| Total equity | $53.4M | $120.8M | $125.7M | $160.8M | $261.3M | -$15.6M | -$2.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$63.5M | -$57.7M | -$70.7M | -$89.3M | -$35.3M | -$10.1M | — |
| Depreciation and amortisation | $4.5M | $3.0M | $1.9M | $709.0K | $647.0K | $469.0K | — |
| Stock-based compensation | $11.8M | $12.9M | $16.9M | $15.8M | $6.4M | $44.0K | — |
| Capital expenditure | $9.0K | $237.0K | $6.7M | $6.4M | $540.0K | $1.5M | — |
| Investing cash flow | $58.9M | $8.2M | -$104.8M | -$6.4M | -$590.0K | -$1.5M | — |
| Financing cash flow | $594.0K | $59.3M | $5.9M | $183.0K | $304.0M | $35.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-118532.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | $16.1M | $13.9M |
| Gross profit | — | — | — | — | — | $15.7M | $11.5M |
| Net income | — | -$12.8M | -$76.0M | -$120.7M | -$73.8M | -$77.3M | -$79.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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