Company: PMVP
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030414
Chunk: 159

Company: PMV Pharmaceuticals, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 159
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 indicated (in thousands):

    Year Ended

    December 31,

    2024

    2023

    2022

    Cash used in operating activities
     
    $
    (51,282
    )
     
    $
    (55,657
    )
     
    $
    (63,760
    )

    Cash used in investing activities

    53,352

    (50,545
    )

    (1,368
    )

    Cash provided by financing activities

    313

    35,577

    958

    Impact of exchange rates on cash, cash equivalents, and restricted cash

    (35
    )

    34

    —

    Net (decrease) increase in cash, cash equivalents, and restricted cash
     
    $
    2,348

    $
    (70,591
    )
     
    $
    (64,170
    )

Operating Activities

Net cash used in operating activities for the year ended December 31, 2024, was $51.3 million, which consisted primarily of net loss of $58.7 million decreased by non-cash charges of $9.0 million and decreased by a net change of $1.6 million in our net operating assets and liabilities. The non-cash charges primarily consisted of stock-based compensation of $8.9 million, depreciation of $1.1 million, and accretion of discounts on marketable securities of $5.4 million. The change in our net operating assets and liabilities was primarily due to an increase in operating lease liabilities and other assets and an increase in accrued expenses.

Net cash used in operating activities for the year ended December 31, 2023, was $55.7 million, which consisted primarily of net loss of $69.0 million decreased by non-cash charges of $7.9 million and a net change of $5.4 million in our net operating assets and liabilities. The non-cash charges primarily consisted of stock-based compensation of $12.4 million and depreciation of $1.3 million, partially offset by non-cash lease income of $0.4 million and accretion of premiums on marketable securities of $5.4 million. The change in our net operating assets and liabilities was primarily due to an increase in operating lease liabilities and other assets and an increase in accrued expenses. 

Investing Activities

Our investing activities provided $53.4 million of cash during