PMV Pharmaceuticals Q3 net loss widens on warrant charges
PMVP•PMV Pharmaceuticals’ third-quarter net loss widened to $34.37 million, mainly due to non-cash warrant-related charges. The company completed a $50 million public offering and expects its cash runway to extend into the first quarter of 2028.
1. Quarterly results
PMV Pharmaceuticals reported a third-quarter net loss of $34.37 million, or $0.52 per share. The increase from a year earlier was mainly due to a non-cash loss from a change in the fair value of warrant liability and offering costs allocated to warrant liability related to its August 2026 public offering. Operating expenses were $20.06 million.
2. Spending and outlook
Research and development and general and administrative expenses both declined year over year, mainly due to lower contract research and legal costs. The company expects its cash runway to reach the first quarter of 2028, plans to submit a rezatapopt NDA in the first quarter of 2027, and expects to provide a pivotal Phase 2 PYNNACLE trial update at ENA 2026.
