Thu, May 15, 11:43 AM (40 days ago)
**Summary of Pyxis Oncology, Inc. (PYXS) Q1 2025 Financial Health and Performance:** **Financial Performance:** - **Revenue:** $0 (Q1 2024: $16.1 million) - **Net Loss:** $21.2 million (Q1 2024: $3.3 million) - **Cash, Cash Equivalents, and Short-Term Investments:** $105.4 million (Q1 2024: $105.4 million) - **Accumulated Deficit:** $384.7 million (Q1 2024: $363.5 million) **Key Metrics:** - **Research and Development (R&D) Expenses:** $17.0 million (Q1 2024: $13.0 million) - Increase due to clinical trial costs and manufacturing for micvotabart pelidotin. - **General and Administrative (G&A) Expenses:** $5.9 million (Q1 2024: $8.3 million) - Decrease due to lower stock-based compensation and professional fees. - **Other Income:** $1.8 million (Q1 2024: $2.3 million) - Decrease due to lower interest and investment income. **Quarterly Performance Discussion:** - **Revenue:** No product sales; revenue from research agreements. - **Expenses:** Increased R&D due to clinical trials and manufacturing; decreased G&A due to lower stock-based compensation. - **Cash Flow:** Negative cash flow from operations; positive cash flow from investing activities. **Trends and Uncertainties:** - **Clinical Development:** Focus on micvotabart pelidotin for HNSCC; combination therapy trials with Merck. - **Financial Outlook:** Expects cash to fund operations into second half of 2026; potential need for additional funding. - **Risks:** Clinical trial failures, regulatory approval uncertainties, competition, and market conditions. **Future Operations Impact:** - **Clinical Trials:** Ongoing and planned trials for micvotabart pelidotin; potential for additional indications. - **Regulatory:** Seeking Fast Track Designation and other expedited pathways; potential for accelerated approval. - **Financial:** Need for additional funding; potential impact of market conditions and competition.