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Sep 30, 2021
PMV Pharma Q3 2021 Earnings Report
PMV Pharmaceuticals reported financial results for the third quarter of 2021 and provided corporate highlights.
Key Takeaways
PMV Pharma reported its Q3 2021 financial results, highlighting the progress of its lead candidate, PC14586, and a strong cash position of $326.3 million to support operations through 2023.
Advanced clinical development of PC14586, a p53 Y220C reactivator.
Phase 1/2 trial of PC14586 is progressing with twelve sites at leading oncology centers.
Appointed Tim Smith as Senior Vice President, Head of Corporate Development.
Cash, cash equivalents, and marketable securities of $326.3 million as of September 30, 2021.
Forward Guidance
PMV Pharma expects to present data from the Phase 1/2 trial of PC14586 in the first half of next year and believes its cash position is sufficient to support operations through the end of 2023.
Positive Outlook
- Ongoing Phase 1/2 trial of PC14586 progressing well.
- Data from the Phase 1 portion of the trial expected in the first half of 2022.
- Strong cash, cash equivalents and marketable securities position of $326.3 million.
- Cash position sufficient to support execution of clinical, research and operational goals through the end of 2023.
- PC14586 has been granted Fast Track designation by the U.S. FDA.
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
Historical Earnings Impact
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