Company: PMVP
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030414
Chunk: 155

Company: PMV Pharmaceuticals, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 155
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 December 31, 2024, compared to $11.2 million for the year ended December 31, 2023. The decrease of $0.5 million in 2024 was primarily due to decreased interest rates from cash investments in marketable securities and U.S. treasuries.

Liquidity and Capital Resources

Our financial condition is summarized as follows (in thousands):

    As of December 31,

    2024

    2023

    Change

    Financial assets:

    Cash and cash equivalents
     
    $
    40,876

    $
    37,706

    $
    3,170

    Marketable securities – current

    128,578

    165,351

    (36,773
    )

    Marketable securities – noncurrent

    13,843

    25,505

    (11,662
    )

    Total financial assets
     
    $
    183,297

    $
    228,562

    $
    (45,265
    )

    Working capital:

    Current assets
     
    $
    175,658

    $
    207,409

    $
    (31,751
    )

    Current liabilities

    14,370

    14,029

    341

    Total working capital
     
    $
    161,288

    $
    193,380

    $
    (32,092
    )

 95

Sources of Liquidity

Since our inception, we have not generated any revenue from any product sales or any other sources and have incurred significant operating losses and negative cash flows from our operations. We have not yet commercialized any of our product candidates and we do not expect to generate revenue from sales of any product candidates for several years, if at all. As of December 31, 2024, we had cash, cash equivalents, and marketable securities of $183.3 million and an accumulated deficit of $368.7 million. We have financed our operations primarily through issuance and sales of our equity securities.

On November 20, 2024 we filed a shelf registration statement on Form S-3 (File No. 333-283349) with the SEC and a prospectus supplement, which registered the offering, issuance and sale of up to $200,000,000 of various equity and debt securities and up to $113.8 million of common stock pursuant to an at