Pyxis Oncology (PYXS) investor relations material

Company overview and business model

• Clinical-stage oncology company focused on addressing unmet needs in solid tumors, with an immediate focus on head and neck squamous cell carcinoma (HNSCC).

• Lead product candidate, MICVO (micvotabart pelidotin), is an antibody-drug conjugate targeting EDB+FN, a splice variant of fibronectin highly expressed in tumors but low in normal tissues.

• MICVO is designed for a three-pronged mechanism: direct cancer cell killing, bystander effect, and immunogenic cell death.

• MICVO is being studied as monotherapy and in combination with pembrolizumab in recurrent/metastatic HNSCC and other solid tumors.

• Incorporated in Delaware in 2018, with headquarters in Boston, MA.

Financial performance and metrics

• Received approximately $50 million in gross proceeds from a private placement closed on July 2, 2026.

• May receive up to an additional $64 million in gross proceeds if all warrants are exercised for cash.

• Audited financial statements include a going concern explanatory paragraph.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling stockholders.

• Proceeds from any cash exercise of warrants will be used to advance the MICVO clinical program and for working capital and general corporate purposes.