Pyxis Oncology (PYXS) Operating Expenses (2020 - 2026)
Pyxis Oncology (PYXS) posted quarterly Operating Expenses of $29.3 million for Q4 2025, down 26.79% year-over-year from $40.1 million in Q4 2024, and up 25.03% quarter-over-quarter from $23.5 million in Q3 2025.
Pyxis Oncology (PYXS) Operating Expenses (2020 - 2026) Analysis & Trends
Pyxis Oncology (PYXS) has reported Operating Expenses for 6 consecutive years, with $29.3 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Operating Expenses fell 26.79% year-over-year to $29.3 million; the TTM figure through Dec 2025 stood at $98.3 million (down 6.94% YoY), while the FY2025 annual figure was $98.3 million, down 6.94% from the prior year.
- Operating Expenses rose to $29.3 million in Q4 2025 per PYXS's latest filing, from $23.5 million in the prior quarter.
- Across five years, Operating Expenses topped out at $40.1 million in Q4 2024 and bottomed at $5.9 million in Q2 2021.
- Historically, Operating Expenses has averaged $24.0 million across 5 years, with a median of $23.2 million in 2025.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 333.02% — and 2023, when it plunged 53.21%.
- Pyxis Oncology's Operating Expenses stood at $16.4 million in 2021, then surged by 131.18% to $38.0 million in 2022, then slumped by 53.21% to $17.8 million in 2023, then surged by 125.52% to $40.1 million in 2024, then declined by 26.79% to $29.3 million in 2025.
- Business Quant data shows PYXS's Operating Expenses at $29.3 million in Q4 2025, $23.5 million in Q3 2025, and $22.6 million in Q2 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 2.89 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 960.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 1.21 Bn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 1.06 Bn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 427.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 541.02 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -784.57 Mn |
| 10 | Pyxis Oncology | 199.01 Mn | 166.02 Mn | - | 25.99 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 25.99 Mn |
| Dec 31, 2025 | 29.33 Mn |
| Sep 30, 2025 | 23.46 Mn |
| Jun 30, 2025 | 22.57 Mn |
| Mar 31, 2025 | 22.91 Mn |
| Dec 31, 2024 | 40.07 Mn |
| Sep 30, 2024 | 23.75 Mn |
| Jun 30, 2024 | 20.03 Mn |
| Mar 31, 2024 | 21.75 Mn |
| Dec 31, 2023 | 17.77 Mn |
| Sep 30, 2023 | 25.35 Mn |
| Jun 30, 2023 | 18.12 Mn |
| Mar 31, 2023 | 20.95 Mn |
| Dec 31, 2022 | 37.97 Mn |
| Sep 30, 2022 | 28.39 Mn |
| Jun 30, 2022 | 25.73 Mn |
| Mar 31, 2022 | 31.39 Mn |
| Dec 31, 2021 | 16.43 Mn |
| Sep 30, 2021 | 11.62 Mn |
| Jun 30, 2021 | 5.94 Mn |