Brief: Pmv Pharmaceuticals Announces Prioritization Of Pc14586 Clinical Development

Pmv Pharmaceuticals

18/01/2024 22:12

Jan 18 (Reuters) - PMV Pharmaceuticals Inc  PMVP.O :
    * PMV PHARMACEUTICALS ANNOUNCES PRIORITIZATION OF PC14586
CLINICAL
DEVELOPMENT AND EXTENDED CASH RUNWAY
    * PMV PHARMA - CASH, CASH EQUIVALENTS, AND MARKETABLE
SECURITIES
TOTALING ABOUT $229 MILLION AS OF DECEMBER 31, 2023
    * PMV PHARMACEUTICALS INC - WORKFORCE REDUCTION OF
APPROXIMATELY
30%
    * PMV PHARMA - CASH, CASH EQUIVALENTS, AND MARKETABLE
SECURITIES
COMBINED WITH COST SAVINGS FROM WORKFORCE REDUCTION TO EXTEND
CASH RUNWAY TO END 2026
    * PMV PHARMACEUTICALS INC - PC14586 REGISTRATIONAL PHASE 2
CLINICAL TRIAL REMAINS ON TRACK TO INITIATE IN 1Q24
    * PMV PHARMACEUTICALS - SEES IT WILL INCUR AGGREGATE CHARGES
OF
APPROXIMATELY $1.4 MILLION, PRIMARILY FOR ONE-TIME EMPLOYEE
SEVERANCE AND BENEFIT COSTS

Source text for Eikon:  ID:nGNX9z0d3Z 
Further company coverage:  PMVP.O 

 ((Reuters.Briefs@thomsonreuters.com;))