Pyxis Oncology stock falls 3.73 percent after trial update

Pyxis Oncology stock fell 3.73 percent to USD 3.23 on Nasdaq on September 23, 2026, while the company carried a market capitalization of USD 204,638,200. The move follows a clinical update that gave investors stronger efficacy data but also kept the program in an early development stage.

MICVO delivers two key rates

As StockTitan reported on September 9, 2026, Pyxis Oncology presented updated Phase 1 monotherapy data for micvotabart pelidotin, also called MICVO, based on an August 18, 2026 data cutoff. The study showed a 36 percent confirmed objective response rate and a 94 percent disease control rate among 33 efficacy-evaluable patients.

The response data were accompanied by a median progression-free survival of 6.2 months and a 79 percent probability of overall survival at 12 months. The median overall survival had not yet been reached, leaving durability as the next material test for the program.

Analyst target reaches USD 8

The market reaction is more cautious than the clinical percentages alone suggest. According to Investing.com on September 10, 2026, Wedbush raised its price target for Pyxis Oncology from USD 6.00 to USD 8.00 and maintained an Outperform rating. The new target stands USD 4.77 above the September 23 price, a 147.68 percent difference.

That gap reflects the binary nature of a clinical-stage biotechnology company. The 36 percent response rate is a measurable result from a small Phase 1 dataset, while the planned development path still depends on follow-up survival data and later-stage trial execution.

Nasdaq price remains below target

Pyxis Oncology stock was trading at USD 3.23 on Nasdaq on September 23, 2026, down USD 0.12 from the previous close of USD 3.35. The session range was USD 3.20 to USD 3.36, placing the price inside a narrow daily band as the market assessed the clinical update.