PMV Pharmaceuticals Raises $50.8 Million to Support Ovarian Cancer Drug Development
PMV Pharmaceuticals (NASDAQ: PMVP) announced interim results from its Phase 2 PYNNACLE trial for rezatapopt, an investigational treatment targeting ovarian cancer with the TP53 Y220C mutation. The data showed a 46% overall response rate among 76 patients and a median duration of response of 10 months. Based on these findings, PMV plans to submit a New Drug Application (NDA) for accelerated FDA approval in early 2027. To support its development efforts and regulatory submissions, the company priced a public offering expected to raise $50.8 million through common stock, pre-funded warrants, and accompanying warrants at $1.21 per unit. Despite positive clinical data, PMV Pharmaceuticals' shares fell by 10.74% in premarket trading on Tuesday.
Tickers: $PMVP
Topics: cancer treatment clinical trials FDA approval pharmaceuticals