Company: PMVP
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030414
Chunk: 175

Company: PMV Pharmaceuticals, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 175
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 to commercial sales. There can be no assurance the Company’s product candidates will receive the necessary clearances. If the Company is denied clearance, clearance is delayed or it is unable to maintain clearance, it could have a materially adverse impact on the Company. Subsequent EventsThe Company considered events or transactions occurring after the balance sheet date, but prior to the issuance of the consolidated financial statements, for potential recognition or disclosure in its consolidated financial statements.  All significant subsequent events have been properly disclosed in the consolidated financial statements. 

3.  Financial Instruments and Fair Value MeasurementsThe Company’s financial instruments consist of money market funds, U.S. government debt securities and corporate debt securities. Cash and cash equivalents includes money market funds, which are measured at fair value on a recurring basis using quoted prices and are classified as Level 1. Marketable securities are measured at fair value based on inputs other than quoted prices that are derived from observable market data and are classified as Level 2 inputs, except for investments in U.S. treasury securities and certificates of deposit which are classified as Level 1. There were no Level 3 assets or liabilities at December 31, 2024 or 2023. The following tables show the Company’s cash equivalents and available-for-sale securities’ carrying amounts and fair values as of December 31, 2024 and 2023: 

        As of December 31, 2024(in thousands)

        CarryingAmount

        Gross Unrealized Gains

        Gross Unrealized Losses

        FairValue

        Quotedpriced inactivemarkets(Level 1)

        Significantotherobservableinputs(Level 2)

        Significantunobservableinputs(Level 3)

        Financial assets

        Money market funds
         
        $
        40,790

        $
        —

        $
        —

        $
        40,790

        $
        40,790

        $
        —

        $
        —

        Corporate securities

        32,941

        34

        (26
        )

        32,949

        2,148

        30,801

        —

        Government securities

        109,341

        153

        (22
        )

        109,472

        73,339

        36,133

        —

        Total financial assets
         
        $
        183,072

        $
        187

        $
        (48
        )
         
        $
        183,211