24/7 Market News Snapshot 20 November, 2024 – Pyxis Oncology, Inc. Common Stock (NASDAQ:PYXS)

November 20, 2024

DENVER, Colo., 20 November, 2024 (247marketnews.com) – (NASDAQ:PYXS) are discussed in this article.
Pyxis Oncology, Inc. is currently experiencing a challenging phase in the stock market, with shares opening at $4.25 and plummeting by 11.37% to a current value of $3.687. This decline is likely attributed to market concerns, as reflected in an elevated trading volume of 2.20 million shares, significantly higher than the average. Such activity indicates intense investor engagement, which may be contributing to sell-off pressures. The stock’s moving averages suggest that without a turnaround, further declines may be imminent, attracting speculative trading interest. Investors are advised to keep an eye on support levels around $3.50; a drop below this threshold could result in additional losses. In contrast, resistance appears near the initial opening price of $4.25, potentially signaling a recovery opportunity.

On a more positive note, Pyxis Oncology has unveiled encouraging preliminary results from its ongoing Phase 1 clinical trial of PYX-201, a novel antibody-drug conjugate aimed at targeting difficult solid tumors. The preliminary findings reveal a noteworthy 50% objective response rate (ORR) among heavily pretreated patients with head and neck squamous cell carcinoma (HNSCC), which includes one complete response and an impressive 100% disease control rate. Dr. Lara S. Sullivan, President and CEO of Pyxis, highlighted the importance of these results, which emphasize PYX-201’s potential across various tumor types.

Moreover, Pyxis Oncology has established a clinical trial collaboration with Merck to explore the combination of PYX-201 with KEYTRUDA® (pembrolizumab), specifically for HNSCC, HR+/HER2- breast cancer, triple-negative breast cancer (TNBC), and sarcoma. This study is scheduled to begin dosing in early 2025 and reflects the company’s commitment to developing impactful therapies for patients facing significant unmet medical needs. As the trial progresses, multiple data updates are anticipated, further defining PYX-201’s efficacy and role in treating challenging cancers.

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