PMV Pharmaceuticals (PMVP) Q4 2025 earnings summary

Executive summary

• Achieved positive Phase 2 interim data for rezatapopt in the PYNNACLE trial for TP53 Y220C-mutated cancers.

• Enrollment remains on track for the pivotal Phase 2 portion, with NDA submission planned for Q1 2027.

• Rezatapopt received Orphan Drug Designation and Fast Track status from the FDA for TP53 Y220C positive ovarian cancer.

• Published first-in-human data in NEJM showing selective p53 reactivation and antitumor activity.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $112.9 million as of December 31, 2025, down from $183.3 million at year-end 2024.

• Net loss for 2025 was $77.7 million, compared to $58.7 million in 2024.

• Net cash used in operations was $73.6 million for 2025, up from $51.3 million in 2024.

• R&D expenses rose to $69.9 million in 2025, primarily due to advancing rezatapopt clinical development.

• G&A expenses decreased to $16.3 million in 2025, reflecting lower facility and personnel costs after relocation and staff reductions.

Outlook and guidance

• Cash runway expected to last through the end of Q2 2027.

• NDA submission for rezatapopt in platinum-resistant/refractory ovarian cancer planned for Q1 2027.