Healthcare · Biotechnology
Price
$2.77
Market Cap
$175.5M
Employees
44
Beta
1.43
Avg Volume
507,298
CEO
Thomas Civik
Business Description
Pyxis Oncology, Inc. operates as a preclinical biopharmaceutical company focused on developing novel therapeutic approaches to combat various forms of cancer. Its investigational immune-oncology pipeline includes PYX-106, a fully human immunoglobulin G1 (IgG1) antibody designed to target siglec-15, which is being explored for its potential efficacy against thyroid cancer, head and neck squamous cell carcinoma, non-small cell lung cancer (NSCLC), and other solid tumors. Additionally, PYX-102 is an immune-therapeutic currently under investigation for the treatment of solid tumors. The company's portfolio also features a range of investigational antibody-drug conjugate (ADC) candidates: PYX-201, a novel ADC being developed for NSCLC, breast cancer, and other solid tumors; PYX-202, another novel ADC aimed at small cell lung cancer (SCLC), soft tissue sarcoma, and other solid tumors; and PYX-203, an ADC undergoing evaluation for acute myeloid leukemia and myeloid dysplastic syndrome. Pyxis Oncology was founded in 2018 and is based in Cambridge, Massachusetts.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-2.16
Stock Price: $2.77
EPS (Diluted): -1.28
EPS (Diluted): -1.28
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.34
Stock Price: $2.77
Total Equity: $53.41M
Shares: 62,143,166
Total Equity: $53.41M
Shares: 62,143,166
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-1.01
Market Cap: $175.49M
Total Debt: $0.00
Cash: $15.42M
EBITDA: -$73.72M
Total Debt: $0.00
Cash: $15.42M
EBITDA: -$73.72M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$74.7M
Market Cap: $175.49M
Total Debt: $0.00
Cash: $15.42M
Total Debt: $0.00
Cash: $15.42M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
5.16
Stock Price: $2.77
Revenue: $13.86M
Shares: 62,143,166
Revenue: $13.86M
Shares: 62,143,166
EV/Sales (Total value vs revenue — works when P/E can't)
API5.39
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
82.8%
Gross Profit: $11.47M
Revenue: $13.86M
Revenue: $13.86M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-609.2%
Operating Income: -$84.42M
Revenue: $13.86M
Revenue: $13.86M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-574.5%
Net Income: -$79.62M
Revenue: $13.86M
Revenue: $13.86M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-149.1%
Net Income: -$79.62M
Total Equity: $53.41M
Total Equity: $53.41M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-226.2%
Operating Income: -$84.42M
Tax Rate: -1.8%
Equity: $53.41M
Total Debt: $0.00
Cash: $15.42M
Tax Rate: -1.8%
Equity: $53.41M
Total Debt: $0.00
Cash: $15.42M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.41
Current Assets: $72.11M
Current Liabilities: $21.13M
Current Liabilities: $21.13M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $53.41M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $53.41M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.22
Revenue: $13.86M
Shares: 62,143,166
Shares: 62,143,166
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$0.86
Total Equity: $53.41M
Shares: 62,143,166
Shares: 62,143,166
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.02
Operating CF: -$63.50M
CapEx: -$9,000
Shares: 62,143,166
CapEx: -$9,000
Shares: 62,143,166
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $2.77
Stock Price: $2.77
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$79.62M
Net Income: -$79.62M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares PYXS against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 26, 2026 12:23am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $16.1M | $13.9M |
| Cost of Revenue | $0 | $0 | $0 | $475,000 | $2.4M |
| Gross Profit | $0 | $0 | $0 | $15.7M | $11.5M |
| Operating Expenses | $69.7M | $123.5M | $82.2M | $105.1M | $95.9M |
| Operating Income | -$69.7M | -$123.5M | -$82.2M | -$89.5M | -$84.4M |
| Net Income | -$76.0M | -$120.7M | -$73.8M | -$77.3M | -$79.6M |
| EBITDA | -$75.3M | -$120.0M | -$71.9M | -$65.5M | -$73.7M |
| EPS | $-2.53 | $-3.57 | $-1.85 | $-1.32 | $-1.28 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 26, 2026 12:23am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $274.7M | $179.3M | $9.7M | $19.5M | $15.4M |
| Total Current Assets | $278.7M | $186.6M | $124.6M | $132.4M | $72.1M |
| Total Assets | $280.0M | $211.4M | $173.7M | $157.2M | $91.5M |
| Current Liabilities | $18.7M | $31.6M | $25.8M | $17.7M | $21.1M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $18.7M | $50.6M | $48.0M | $36.4M | $38.1M |
| Total Equity | $261.3M | $160.8M | $125.7M | $120.8M | $53.4M |
| Retained Earnings | -$91.7M | -$212.4M | -$286.2M | -$363.6M | -$443.2M |
Cash Flow (Annual)
Last updated: Jun 26, 2026 12:23am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$35.3M | -$89.3M | -$70.7M | -$57.7M | -$63.5M |
| Capital Expenditure | $-540,000 | -$6.4M | -$6.7M | $-237,000 | $-9,000 |
| Free Cash Flow | -$35.9M | -$95.7M | -$77.4M | -$57.9M | -$63.5M |
| Acquisitions (net) | $-50,000 | $0 | $6.7M | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $268.1M | -$95.6M | -$169.6M | $9.8M | -$4.1M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 2:49am (6h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$4.2M $4.2M – $4.2M
|
$15.8M $15.8M – $15.8M
|
$42.8M $42.8M – $42.8M
|
$114.9M $114.9M – $114.9M
|
| EBITDA |
$833,333 $833,333 – $833,333
|
$3.2M $3.2M – $3.2M
|
$8.6M $8.6M – $8.6M
|
$23.0M $23.0M – $23.0M
|
| Net Income |
-$77.3M -$103.1M – -$51.5M
|
-$109.9M -$121.2M – -$25.4M
|
-$62.5M -$62.5M – -$62.5M
|
-$37.1M -$37.1M – -$37.1M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 26, 2026 12:23am (1d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | — | — | — | -14.2% |
| Gross Profit Growth | — | — | — | -26.8% |
| Operating Income Growth | -77.1% | +33.4% | -8.8% | +5.6% |
| Net Income Growth | -58.9% | +38.9% | -4.8% | -3.0% |
| EBITDA Growth | -59.3% | +40.1% | +8.8% | -12.5% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for PYXS — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30