Pyxis taking scalpel to preclinical pipeline, stops development on half — for now

15 Aug 2022
endpts.com
AntibodyADC
A Cambridge, MA biotech is looking to push to the clinic, and it’s willing to throw other candidates to the wayside. Pyxis Oncology put out word Monday morning in its Q2 earnings release that the company is shifting its short-term emphasis — focusing on two programs and either pausing or ceasing work on three more. “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 in a statement. The chief executive also added that the biotech is looking at leveraging its “industry network” to identify and facilitate opportunities for strategic partnerships. CMO Jay Feingold added in a statement that the biotech is looking to file INDs for its top two candidates by year’s end. The biotech 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 targets DLK1 and was in-licensed from LegoChem, has officially been stopped after Pyxis reviewed data collected from toxicology studies that the company announced earlier this year. “As LegoChem continues to work on the development of ADCs targeting DLK1 using its proprietary next generation payloads, Pyxis Oncology looks forward to leveraging its collaboration with LegoChem to evaluate the potential of these new candidate ADCs,” the company added in a statement. Despite the new changes, Pyxis reported a cash amount of around $223 million as of June 30 which, by their estimation, should keep the company going through H2 2024. And $PYXS is down less than 1% after the market opened. Sullivan added that with the change and combined with the company’s current cash resources, it allows Pyxis “to potentially capitalize on multiple expected near-term catalysts and advance our programs to clinical development.”
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