Oncology co PMV Pharma drops after beginning equity offering

The Toronto-Dominion Bank

31/08/2026 21:27

** Shares of PMV Pharmaceuticals PMVP.O down 13.2% at $1.05 post-market as it looks to raise equity
** Precision oncology co commences offering of stock and accompanying warrants, and pre-funded warrants; deal size not disclosed
** TD Cowen sole bookrunner
** Princeton, NJ-based PMVP also announces its drug, rezatapopt, had 46% response rate in Phase 2 platinum-resistant/refractory ovarian cancer trial
** Co anticipates submitting rezatapopt new drug application for ovarian cancer in Q1 2027 
** PMVP stock ended down 0.8% at $1.21 on Mon, down 3% YTD; co has ~53.46 mln shares outstanding
** All six analysts covering the stock are bullish; median PT $4, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))