PMV Pharmaceuticals Reports Q1 Cash Position and Operational Spending

PMV Pharmaceuticals reported a first-quarter cash position of $165.8 million, down from $183.3 million at the end of 2024. The company's net cash used in operations increased to $18.3 million, up from $16.2 million in the same period last year. Analysts forecast an average target price of $5.67, implying a 541.17% upside from the current price of $0.88. The consensus recommendation is a "Buy" status with an average brokerage recommendation of 1.5.

PMV Pharmaceuticals (PMVP) has released its first-quarter 2025 financial results, highlighting both the company's ongoing clinical trial progress and its financial health. The biopharmaceutical company, which specializes in precision oncology therapies targeting p53 mutations, reported a net loss of $17.5 million for Q1 2025, compared to $15.3 million in Q1 2024. This increase in net loss can be attributed to an increase in research and development (R&D) expenses to $17.4 million from $13.2 million year-over-year, while general and administrative (G&A) expenses decreased to $4.1 million from $5.0 million.

One of the key financial highlights is the company's cash position, which stood at $165.8 million as of March 31, 2025. This represents a decrease from the $183.3 million at the end of 2024. Despite the decrease, PMV Pharmaceuticals expects this cash position to provide sufficient runway through the end of 2026. The net cash used in operations for Q1 2025 was $18.3 million, up from $16.2 million in the same period last year.

Analysts have forecast an average target price of $5.67 for PMV Pharmaceuticals, implying a potential 541.17% upside from the current stock price of $0.88. The consensus recommendation is a "Buy" status with an average brokerage recommendation of 1.5.

PMV Pharmaceuticals also provided updates on its clinical trials, particularly the PYNNACLE trial for rezatapopt. The company plans to release interim analysis data from approximately 50 patients in mid-2025, with 40% from the ovarian cancer cohort. Additionally, the company announced a new Phase 1b study launched with MD Anderson Cancer Center, evaluating rezatapopt in AML/MDS patients with TP53 Y220C mutation, starting in Q1 2025.

The company's ongoing participation in major investor conferences, including the Oppenheimer 35th Annual Healthcare Life Sciences Conference and the TD Cowen 45th Annual Health Care Conference, provides further opportunities for investors and researchers to stay informed about the company's progress.

References:
[1] https://seekingalpha.com/news/4445771-pmv-pharmaceuticals-gaap-eps-of--034-beats-by-003
[2] https://www.stocktitan.net/news/PMVP/