Pyxis Oncology reported ‘compelling’ cancer dataset, says H.C. Wainwright

H.C. Wainwright says Pyxis Oncology (PYXS) reported positive preliminary data from the ongoing Phase 1 study of PYX-201, an extra domain B splice variant of fibronectin targeted antibody-drug conjugate with a novel auristatin payload, in solid tumors. Despite early data from a limited number of patients, H.C. Wainwright is “impressed by the strong” overall response rate of 50% and the favorable safety and tolerability profile of the drug in heavily pre-treated patients with head and neck squamous cell carcinoma. The firm views the dataset as “compelling” and reiterates a Buy rating on the shares with a $7 price target