Company: PMVP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000950170-25-104588
Chunk: 12

Company: PMV Pharmaceuticals, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 12
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(unaudited)

(in thousands, except share and per share amounts)

1. Formation and Business of the CompanyOrganization and LiquidityPMV Pharmaceuticals, Inc. (the “Company”) was incorporated in the state of Delaware in March 2013. Since inception, the Company has devoted substantially all of its time and efforts to performing research and development activities and raising capital. The Company is a precision oncology company pioneering the discovery and development of small molecule, tumor-agnostic therapies targeting p53. The Company’s headquarters are located at 400 Alexander Park Drive, Suite 301, Princeton, New Jersey.The Company is subject to risks and uncertainties common to clinical stage companies in the biotechnology industry including, but not limited to, technical risks associated with the successful research, development and manufacturing of product candidates, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Current and future programs will require significant research and development efforts, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel, and infrastructure. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales.The Company has incurred net losses and negative cash flows from operations since its inception. During the three and six months ended June 30, 2025, the Company incurred a net loss of $21,210 and $38,646, respectively. For the six months ended June 30, 2025, the Company used $36,568 of cash for operations. At June 30, 2025, the Company had an accumulated deficit of $407,358. Cash, cash equivalents, and marketable securities were $148,306 as of June 30, 2025. Management expects to incur substantial additional operating losses for the next several years and may need to obtain additional debt or equity financings in order to complete development of its products, obtain regulatory approvals, launch and commercialize its products and continue research and development programs. The Company believes it has adequate cash, cash equivalents, and marketable securities to operate for the next 12 months from the date of issuance of these condensed consolidated financial statements.

2. Summary of Significant Accounting PoliciesThe Company’s significant accounting policies are disclosed in the audited condensed consolidated financial statements for the year ended December 31, 2024, included in the Company’s Annual Report on Form