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Sep 30, 2022
PMV Pharma Q3 2022 Earnings Report
PMV Pharma reported financial results for Q3 2022 and provided a corporate update.
Key Takeaways
PMV Pharmaceuticals reported their Q3 2022 financial results, highlighting the continued advancement of the PYNNACLE study evaluating PC14586 and plans for the initiation of a clinical trial of PC14586 in combination with KEYTRUDA.
Continued enrollment in the Phase 1/2 PYNNACLE trial of PC14586 in patients with advanced solid tumors.
On track to initiate Phase 1b trial evaluating PC14586 in combination with KEYTRUDA in Q4 2022.
Carol Gallagher, Pharm.D. appointed to the Board of Directors.
Cash, cash equivalents, and marketable securities totaled $258.9 million as of September 30, 2022.
PMV Pharma
PMV Pharma
Forward Guidance
The company is focused on advancing PC14586 and initiating a combination trial with KEYTRUDA.
Positive Outlook
- Continued enrollment in PYNNACLE study.
- Planned update in the first half of 2023 for PYNNACLE study.
- On track to initiate Phase 1b trial evaluating PC14586 in combination with KEYTRUDA in Q4 2022.
- Observed promising, preliminary tumor-agnostic clinical efficacy with PC14586 monotherapy.
- Exploration of potential synergy between PC14586 and KEYTRUDA to improve patient outcomes.
Challenges Ahead
- Success of clinical trials is subject to risks and uncertainties.
- Ability to execute on strategy and operate as an early clinical stage company is subject to risks.
- Clinical trials of PC14586 may differ from preclinical, preliminary or expected results.
- The Company's ability to fund operations is subject to risks.
- The impact that the current COVID-19 pandemic will have on the Company’s clinical trials, supply chain, and operations is a risk.