Pyxis Chops Development On Preclinical Assets - Pyxis Oncology (NASDAQ:PYXS)

Pyxis Oncology Inc PYXS is shifting its short-term emphasis to focus on two programs.
“We have elected to sharpen our near-term focus on the clinical execution of our two most advanced programs, anti-EDB Antibody Drug Conjugate (ADC), PYX-201, and anti-Siglec-15 monoclonal antibody (mAb), PYX-106,” CEO Lara Sullivan said.
The chief executive also added that the biotech is looking at leveraging its “industry network” to identify and facilitate opportunities for strategic partnerships.
The company is pausing development on two candidates — an anti-CD123 ADC called PYX-203 and an anti-KLRG1 I/O drug, PYX-102.
The biotech added that it remains optimistic about the long-term future of those candidates and is open to outside collaboration or licensing if not further development in-house.
Development for PYX-202, another ADC that targeted DLK1, has officially been stopped after Pyxis reviewed data collected from toxicology studies that the company announced earlier this year.
Pyxis reported a cash amount of around $223 million, which, by their estimation, should keep the company going through the 2H of 2024.
Price Action: PYXS shares are down 2.40% at $2.85 during the market session on the last check Monday.