Pyxis Oncology

Pyxis Oncology is a clinical-stage company developing next-generation antibody-drug conjugates and immunotherapies for difficult-to-treat solid tumors. Its lead candidate, micvotabart pelidotin (MICVO, formerly PYX-201), is an antibody-drug conjugate that targets extradomain-B fibronectin, a structural component of the tumor extracellular matrix rather than a surface antigen on the cancer cell itself; it holds FDA Fast Track designation and is being evaluated in Phase 1 monotherapy cohorts and in a Phase 1/2 combination study with Merck's pembrolizumab, with recurrent and metastatic head and neck squamous cell carcinoma the focus indication. A portfolio prioritization narrowed development onto that lead program. Founded in 2018 as a spinout of Longwood Fund with an early licensing relationship with Pfizer, and headquartered in Boston, Massachusetts, the company went public on Nasdaq in October 2021. It remains pre-revenue and funds development from the balance sheet: on September 30, 2026 it priced a registered public offering of 36,047,919 common shares, or pre-funded warrants in lieu, paired with warrants for expected gross proceeds of approximately $110 million and up to $282.6 million if the accompanying warrants are exercised in full.