Nov. 24 at 1:07 PM
Stephens⬆️
$PYXS $8: Micvotabart Pelidotin (MICVO) Phase 1/2 R/M HNSCC Data Preview
$MRK $BCAX $GILD BGNE
$NBTX CRBP
PYXS expects to present preliminary data for their stroma targeting ADC MICVO formerly (PYX-201) by YE25.
Data and clinical updates expected for the following:
(1) preliminary data from Phase 1 monotherapy dose expansion study in 2L/3L R/M HNSCC patients (post-platinum based chemo & anti-PD(L)-1 and post-EGFR & anti PD(L)-1 arms),
(2) preliminary data from Phase 1/2 combination dose escalation study of MICVO & KEYTRUDA in 1L/2L+ R/M HNSCC patients, and
(3) next steps in the clinical development plan for MICVO for R/M HNSCC.
We expect PYXS to build on previous data reported for MICVO monotherapy, ORR of~50% for n=6 R/M HNSCC (see note here).
We have updated our model to reflect our growing conviction around MICVO and its potential to be a competitive treatment option for R/M HNSCC. This has resulted in our PT increasing to
$8 (from
$5), while reiterating our OW/Vol. rating.
