PMV Pharmaceuticals(PMVP)2025-03-03 13:00Financial Performance - PMV Pharmaceuticals reported a net loss of 69.0 million for the year ended December 31, 2023, representing a 15.8% improvement[12]. - Total operating expenses for the year ended December 31, 2024, were 80.1 million in 2023, reflecting an increase of 6.5%[12]. - Cash, cash equivalents, and marketable securities totaled 228.6 million at the end of 2023, providing a cash runway expected to last until the end of 2026[6]. Research and Development - Research and development expenses increased to 55.9 million in 2023, primarily due to clinical expenses for advancing the lead drug candidate, rezatapopt[12]. - The Phase 1 data of rezatapopt in advanced ovarian cancer patients showed a confirmed partial response rate of 46.7%, with a median duration of response of seven months[7]. - The company announced a collaboration with MD Anderson Cancer Center and Memorial Sloan Kettering Cancer Center for a Phase 1b study in approximately 25 patients with relapsed or refractory acute myeloid leukemia harboring a TP53 Y220C mutation[7]. - The company anticipates submitting a New Drug Application for rezatapopt by the end of 2026[4]. Clinical Trials - Enrollment in the Phase 2 monotherapy portion of the PYNNACLE trial is on track, with over 90% of sites activated across the U.S., Europe, U.K., and Asia-Pacific, and interim analysis data expected in mid-2025[4]. - The primary endpoint of the PYNNACLE trial is the overall response rate per blinded independent central review, with a target enrollment of 114 patients across five cohorts[4]. - The company discontinued enrollment in the combination arm of the Phase 1b PYNNACLE trial due to a lack of clinically meaningful benefit observed in patients[12].