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Pyxis Oncology, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing details financial performance, including total revenues of $16.1 million for the nine months ended September 30, 2024, attributed to a settlement agreement with Novartis (NVS+1.35%).
Research and development expenses increased to $44.7 million from $38.0 million in the prior year, driven by higher costs associated with the PYX-201 and PYX-106 programs.
General and administrative expenses decreased to $20.3 million from $26.5 million, primarily due to lower professional and consultant fees and stock-based compensation.
The company reported a net loss of $41.8 million for the nine months ended September 30, 2024, compared to $58.2 million in the same period the previous year.
Cash, cash equivalents, and short-term investments totaled $144.8 million as of September 30, 2024, expected to fund operations into the second half of 2026.
Pyxis Oncology continues to advance its clinical programs, with PYX-201 and PYX-106 in Phase 1 trials targeting difficult-to-treat cancers.
The company remains focused on its strategic goals, including obtaining regulatory approvals and expanding its pipeline through research and development.
Pyxis Oncology acknowledges the inherent risks in its industry, including competition, regulatory challenges, and the need for additional capital to support ongoing operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Pyxis Oncology Inc. quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.