Pyxis Oncology, Inc.
PYXS · Pharmaceutical Preparations · 63.4M shares · +90%/yr ↑ dilution · EDGAR filings ↗
Reference price $1.03 · est. market cap ~$65M — last insider sale, 2025-04-21 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — antibody-drug-conjugate oncology clinical, funded.
Strengths
- Liquidity — current ratio 3.4 (46th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Going concern• We have substantial doubt about our ability to continue as a going concern and we will require substantial additional capital to finance our operations
- Net lossNet loss (net margin -574.5%)
- Cash burnNegative free cash flow (-63.5M)
- Chronic dilutionShare count +90%/yr over 3y (dilution, book value/share -95%)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Revenue declineRevenue -14.2% YoY
- Notable holderHeld by 5 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, STATE STREET CORP, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
82.8%
Operating margin
-609.2%
Net margin
-574.5%
Return on equity
-149.1%
Return on assets
-87.0%
Revenue growth (QoQ)
-14.2%
Current ratio
3.4×
Free cash flow
-$64M
EBITDA
-$80M
Tangible book value
$53M
Cash & investments
$67M
Cash runway
4q
Stock comp / revenue
85.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-24 | Wadhane Jitendra | Grant | 109K | — |
| 2025-04-21 | HUMPHREY RACHEL | Sell | 14K | $1.03 |
| 2025-04-17 | HUMPHREY RACHEL | Sell | 200 | $0.97 |
| 2025-04-14 | HUMPHREY RACHEL | Sell | 1.4K | $0.97 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06795412 ↗ | Phase 1/2 Study of PYX-201 in Combination With Pembrolizumab in Advanced Solid Tumors Advanced Solid Tumors | PHASE1/PHASE2 | Recruiting | 2027-12-06 |
| NCT05720117 ↗ | A Study of PYX-201 in Advanced Solid Tumors Solid Tumor, Advanced Solid Tumor | PHASE1 | Recruiting | 2026-07-01 |
| NCT05718557 ↗ | Study of PYX-106 in Solid Tumors Solid Tumor | PHASE1 | Active Not Recruiting | 2026-05-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-15 | 2026-06-15 | 0001193125-26-271137 ↗ |
| 10-Q | 2026-05-14 | 2026-03-31 | 0001193125-26-222843 ↗ |
| 8-K | 2026-05-14 | 2026-05-14 | 0001193125-26-222818 ↗ |
| 8-K/A | 2026-04-30 | 2026-02-06 | 0001193125-26-193940 ↗ |
| 10-K | 2026-03-23 | 2025-12-31 | 0001193125-26-118532 ↗ |
| 8-K | 2026-03-23 | 2026-03-23 | 0001193125-26-118525 ↗ |
| 8-K | 2026-02-06 | 2026-02-06 | 0001193125-26-041169 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0001193125-25-323704 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001193125-25-261689 ↗ |
| 10-Q | 2025-11-03 | 2025-09-30 | 0001193125-25-261696 ↗ |
| 10-Q | 2025-08-14 | 2025-06-30 | 0000950170-25-108906 ↗ |
| 8-K | 2025-08-14 | 2025-08-14 | 0000950170-25-108898 ↗ |