Shares of Pyxis Oncology, Inc. (PYXS) tanked over 41% in after-hours trading on Wednesday after the company announced preliminary PYX-201 clinical phase 1 data.
The stock is trading at $2.2500, down $1.57 or 41.10%, in the after hours. The stock closed Wednesday at $3.8200, down $0.3400 or 8.17%.
Pyxis Oncology announced positive preliminary data from the ongoing Phase 1 clinical dose escalation study evaluating PYX-201 in multiple types of solid tumors.
PYX-201, che Company's lead clinical drug candidate, is a first-in-concept antibody-drug conjugate (ADC) with a microtubule inhibitor (optimized auristatin) payload that uniquely targets Extradomain-B Fibronectin (EDB+FN), a non-cellular structural component within the tumor extracellular matrix (ECM).
"These positive data represent a significant milestone for Pyxis Oncology as our novel ECM-targeting ADC, PYX-201, has demonstrated clinical responses by RECIST 1.1 in six tumor types of interest: HNSCC, ovarian, NSCLC, HR+/HER2- breast, TNBC, and Sarcoma. The breadth and depth of our clinical responses clearly indicate the potential of PYX-201 to provide meaningful clinical benefits to patients with difficult-to-treat cancers," said Lara S. Sullivan, M.D., President and Chief Executive Officer of Pyxis Oncology.
The company additionally announces that it has entered into a Clinical Trial Collaboration Agreement with Merck for a Pyxis Oncology-sponsored study of PYX-201 in combination with Merck's anti-PD-1 therapy, Keytruda (pembrolizumab) in patients with 1L and 2L head and neck squamous cell carcinoma (HNSCC), HR+/HER2- breast cancer, and triple-negative breast cancer (TNBC) and sarcoma.
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