PMV Pharma Q2 net loss widens on higher R&D expenses
Overview
PMV Pharma reports Q2 net loss of $21.2 mln, up from $1.2 mln in 2024
R&D expenses rise to $18.4 mln due to rezatapopt program costs
Cash reserves of $148.3 mln expected to last until end of 2026
Outlook
Company expects cash runway to end of 2026
Result Drivers
R&D EXPENSES - Increase to $18.4 mln driven by rezatapopt program costs
G&A EXPENSES - Decrease due to reduced stock-based compensation and operational costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS | -$0.41 | ||
Q2 Net Income | -$21.21 mln | ||
Q2 Operating Expenses | $22.88 mln | ||
Q2 Operating Income | -$22.88 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "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 $6.00, about 74.7% above its August 6 closing price of $1.52
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