While Pyxis Oncology, Inc. (NASDAQ:PYXS) has gained 54.78% year-to-date, analysts continue to see 293.30% upside, helping it secure a spot on our list of hot biotech stocks under $5 to buy.
That analyst conviction is rooted in a busy clinical calendar, with key data readouts from Pyxis Oncology, Inc. (NASDAQ:PYXS)’s lead program expected across the second and third quarters of 2026.
On May 14, 2026, Pyxis Oncology, Inc. (NASDAQ:PYXS) reported first-quarter financial results and provided an update on its micvotabart pelidotin (MICVO) development program.
Pyxis Oncology, Inc. (NASDAQ:PYXS) said it remains on track to share updated monotherapy data in mid-year 2026, focusing on second-line-plus recurrent or metastatic head and neck squamous cell carcinoma patients treated at or below a dose cap implemented in December 2025. Updated combination data from the Phase 1/2 study of MICVO alongside Merck’s pembrolizumab, focused on first-line patients in the same indication, is expected in the second half of 2026.
Enrollment for the monotherapy dose expansion study was completed in the first quarter of 2026, and a protocol amendment permitting adjusted ideal bodyweight dosing has been approved, with that approach selected as the go-forward only if it offers a superior profile to dose capping.
On the financials, Pyxis Oncology, Inc. (NASDAQ:PYXS) posted a net loss of $23.3 million, or $0.37 per share, for the quarter ended March 31, 2026. Research and development expenses rose to $20.0 million from $17.0 million a year earlier, driven largely by higher clinical trial costs. The company held $42.5 million in cash and short-term investments as of March 31, 2026, which it said is sufficient to fund operations into the fourth quarter of 2026.
Nearly all covering analysts remain bullish as of June 8, 2026, with a consensus price target of $7.00.
Pyxis Oncology, Inc. (NASDAQ:PYXS) is a clinical-stage company developing therapeutics for difficult-to-treat cancers, with its lead ADC candidate, MICVO, targeting Extradomain-B Fibronectin to directly kill cancer cells and mobilize anti-tumor immune responses.
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