PMV Pharmaceuticals Q2 loss narrows on lower R&D expenses

Pmv Pharmaceuticals

14/08/2026 13:11

Overview
US precision oncology firm's Q2 net loss narrowed yr/yr due to lower R&D and G&A costs
Company completed enrollment for Phase 2 PYNNACLE trial in platinum-resistant/refractory ovarian cancer
PMV Pharma plans rezatapopt NDA submission for ovarian cancer in Q1 2027

Outlook
Company plans to submit rezatapopt NDA for ovarian cancer in Q1 2027
Company expects cash runway through Q2 2027

Result Drivers
LOWER R&D COSTS - Co said decrease in research and development expenses was mainly due to reduced contract research organization costs for rezatapopt program
REDUCED G&A EXPENSES - Co attributed lower general and administrative costs to reduced personnel expenses and decreased finance support costs

Company press release: ID:nGNX8CnVwX

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$0.34
 
Q2 Net Loss
 
$18.09 mln
 
Q2 Operating Expenses
 
$18.88 mln
 
Q2 Operating Income
 
-$18.88 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for PMV Pharmaceuticals, Inc. is $4.00, about 229.2% above its August 13 closing price of $1.22

Reuters Recommended Reads
Aug 11 - Cardiff Oncology Q2 operating expenses fall on lower R&D costs
Aug 13 - Aktis Oncology Q2 net loss widens on higher R&D, administrative costs
Aug 12 - Aprea Therapeutics Q2 net loss widens on higher R&D costs

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)