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RBC Capital analyst Leonid Timashev lowered the firm’s price target on Pyxis Oncology (PYXS) to $8 from $10 and keeps an Outperform rating on the shares. The company’s pipeline update to prioritize PYX-201 over further investment in PYX-106 is “prudent” given the early signs of activity and the operating expense savings that will be leveraged to continue to advance PYX-201 development, though the firm is reducing its price target on lower “pipeline optionality”, the analyst tells investors in a research note.

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