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Jun 30, 2021
PMV Pharma Q2 2021 Earnings Report
Reported financial results for the second quarter ended June 30, 2021 and provided corporate highlights.
Key Takeaways
PMV Pharmaceuticals reported its Q2 2021 financial results, highlighting the continued enrollment in the Phase 1/2 trial of PC14586 and ending the quarter with $339.0 million in cash, cash equivalents, and marketable securities.
Continued enrollment in Phase 1/2 trial of first-in-class p53 Y220C reactivator PC14586.
Activated twelve clinical trial sites in the United States.
Commenced construction of new corporate headquarters and state-of-the-art laboratories in Princeton, New Jersey.
Ended the second quarter with $339.0 million in cash, cash equivalents, and marketable securities.
PMV Pharma
PMV Pharma
Forward Guidance
The company provided forward-looking statements regarding future plans and expectations for PC14586, its discovery platform, and its ability to fund its operating plan.
Positive Outlook
- Expectations regarding the timing for patient enrollment.
- Success of its current clinical trial for PC14586.
- Future plans or expectations for the Company’s discovery platform.
- Estimates its existing cash and cash equivalents will be sufficient to fund its current operating plan.
- Focus on delivering precision therapeutics that improve the lives of patients living with cancer.
Challenges Ahead
- The success, cost, and timing of the Company’s product candidate development activities and planned clinical trials.
- The Company’s ability to execute on its strategy and operate as an early clinical stage company.
- The potential for clinical trials of PC14586 or any future clinical trials of other product candidates to differ from preclinical, preliminary or expected results.
- The Company’s ability to fund operations.
- The impact that the current COVID-19 pandemic will have on the Company’s clinical trials, supply chain, and operations.