Company: PMVP
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030414
Chunk: 245

Company: PMV Pharmaceuticals, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 245
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.  Net Loss per ShareThe Company excluded all outstanding stock options and restricted stock units at each period end from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect. The following common stock equivalents were excluded from the calculation of diluted net loss per share: 

        For the Years Ended December 31,

        2024

        2023

        2022

        Options to purchase common stock

        8,653,913

        6,973,464

        5,278,771

        Unvested restricted common stock units

        907,666

        236,296

        374,899

        Expected shares to be purchased under 2020 ESPP

        3,944

        2,237

        95,905

        Total

        9,565,523

        7,211,997

        5,749,575

11.  Related Parties The Company has consulting agreements with three members of its board of directors; one of which waived his consulting fees starting as of September 2021. Total consulting fees paid during the years ended December 31, 2024, 2023, and 2022 were $187, $92, and $111, respectively. There were no amounts owed under the consulting agreements as of December 31, 2024.

12. RestructuringOn January 18, 2024, the Company announced a restructuring plan involving the reduction of its workforce by approximately 30% of the Company’s employees. All of the costs under the restructuring plan were incurred during the fiscal year ending December 31, 2024. The Company undertook these steps in order to streamline operations, reduce costs and preserve capital as it advances into late-stage development for its lead product candidate, rezatapopt.

 123

As a result of the reduction in force, the Company incurred an aggregate non-recurring charge of $0.6 million, consisting primarily of employee severance and benefit costs associated with the restructuring. The Company has recorded these charges in research and development expenses in the accompanying consolidated statement of operations based on responsibilities of the impacted employees. The Company accounts for employee termination benefits that represent a one-time benefit in accordance with ASC Topic 420, Exit or Disposal Cost Obligations. It records such costs into expense over the employee’s future service period, if any.