PMV Pharmaceuticals(PMVP)2024-08-08 12:00Financial Performance - As of June 30, 2024, PMV Pharmaceuticals reported cash, cash equivalents, and marketable securities totaling 1.2 million, a significant reduction from a net loss of 16.2 million income tax benefit from the sale of accumulated net operating losses[5] - General and administrative (G&A) expenses decreased to 6.3 million for the same period in 2023, primarily due to reduced facility and operational expenses[5] - Total assets as of June 30, 2024, were reported at 252.2 million as of December 31, 2023[12] Research and Development - Research and development (R&D) expenses increased to 13.8 million for the same period in 2023, driven by higher contractual research organization costs[5] - The Phase 2 monotherapy portion of the PYNNACLE clinical trial is designed to enroll 114 patients across five cohorts, with over 60% of sites activated across the U.S., Europe, and Asia-Pacific[2] - An interim analysis of the Phase 2 monotherapy trial is expected by mid-2025, with a New Drug Application (NDA) filing anticipated by the end of 2026[2] - In the Phase 1b combination arm of the PYNNACLE trial, the safety profile of rezatapopt and pembrolizumab has been consistent with either agent as monotherapy, with no dose-limiting toxicities observed at the 500 mg dose level[3] - The overall response rate in the Phase 1 portion of the PYNNACLE trial was 38% (6 out of 16 evaluable patients) at the recommended Phase 2 dose of 2000 mg daily[8] - PMV Pharmaceuticals has adjusted eligibility criteria in the ongoing Phase 1b trial to exclude patients with a KRAS single-nucleotide variant (SNV) to maximize clinical benefit[4]