Company: PMVP
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030414
Chunk: 153

Company: PMV Pharmaceuticals, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 153
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 rules and regulations of the SEC, and those of any national securities exchange on which our securities are traded, additional insurance expenses, investor relations activities and other administrative and professional services. We also expect to increase our general and administrative expenses as we advance our product candidates through preclinical research and development, manufacturing, clinical development, and commercialization. 

Interest Income, Net

Interest income, net primarily consists of interest income from our interest-bearing cash, cash equivalents, and marketable securities and interest costs related to accretion and amortization of discounts and premiums on marketable securities.

 93

Results of Operations

Comparison of the Years Ended December 31, 2024 and 2023

The following table summarizes our results of operations (in thousands):

    Year Ended

    December 31,

    Statement of operations data:
     
    2024

    2023

    Change

    Operating expenses:

    Research and development
     
    $
    58,527

    $
    55,885

    $
    2,642

    General and administrative

    26,921

    24,247

    2,674

    Total operating expenses

    85,448

    80,132

    5,316

    Loss from operations

    (85,448
    )

    (80,132
    )

    (5,316
    )

    Other income (expense):

    Interest income, net

    10,655

    11,171

    (516
    )

    Other income (expense), net

    (16
    )

    3

    (19
    )

    Total other income (expense)

    10,639

    11,174

    (535
    )

    Loss before provision (benefit) for income taxes

    (74,809
    )

    (68,958
    )

    (5,851
    )

    Provision (benefit) for income taxes

    (16,100
    )

    2

    (16,102
    )

    Net loss
     
    $
    (58,709
    )
     
    $
    (68,960
    )
     
    $
    10,251

Research and Development Expenses

The following table summarizes our research and development expenses incurred during the periods indicated (in thousands):

    Year Ended

    December 31,

    Statement of operations data: