H.C. Wainwright reduces Pyxis Oncology's (PYXS) price target to $5 from $7, maintaining a Buy rating. Pyxis shifts focus from PYX-106 to PYX-201, its lead antibody-drug conjugate, due to Siglec-15's questionable potential, aiding in operational expense management and PYX-201 development focus.
Pyxis Oncology prioritizes PYX-201, a novel ADC showing promise in HNSCC and other solid tumors, with a 50% ORR in HNSCC patients. Current funding supports development into 2H 2026. PYX-106 deprioritized to focus resources on PYX-201, with trials expected to begin in early 2025.
Pyxis Oncology, focused on ADCs for cancer treatment, has a strong liquidity position and is progressing with its lead candidate, PYX-201, showing efficacy across six tumor types. The company's market cap is $96.33M, with analyst targets ranging from $7 to $13. Success of PYX-201 could double the share price, but safety concerns and competitive ADC landscape pose risks.