The firm maintains a lean capital structure with minimal debt, as evidenced by a debt-to-equity ratio of 0.00 in 2026Q1, though this is offset by an accumulated deficit of $464.5 million.
PMV Pharmaceuticals, Inc. (PMVP) balance sheet — 8-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 |
|---|
| Total Current Assets | 81.41M | 115.23M | 175.66M | 207.41M | 247.01M | 301.29M | 364.76M | 102.09M | 62.24M |
| Cash & Short-Term Investments | 79.43M | 112.94M | 169.45M | 203.06M | 241.05M | 297.16M | 361.42M | 101.49M | 61.91M |
| Cash Only | 12.47M | 37.98M | 40.88M | 37.71M | 108.3M | 172.47M | 361.42M | 73.28M | 30.31M |
| Short-Term Investments | 66.96M | 74.96M | 128.58M | 165.35M | 132.76M | 124.7M | 0 | 28.21M | 31.6M |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.98M | 2.28M | 6.2M | 4.35M | 5.95M | 822K | 3.34M | 0 | 0 |
| Total Non-Current Assets | 659K | 1.33M | 15.63M | 44.74M | 23.3M | 30.28M | 770K | 940K | 1.22M |
| Property, Plant & Equipment | 363K | 1.04M | 1.55M | 19.05M | 20.49M | 13.15M | 569K | 739K | 1.02M |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 13.84M | 25.5M | 2.5M | 16.91M | 0 | 0 | 0 |
| Other Non-Current Assets | 296K | 297K | 235K | 190K | 313K | 221K | 201K | 201K | 201K |
| Total Assets | 82.07M | 116.56M | 191.29M | 252.15M | 270.31M | 331.57M | 365.53M | 103.03M | 63.46M |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - |
| Asset Growth % | -168.89% | -39.06% | -24.14% | -6.72% | -18.48% | -9.29% | 254.77% | 62.36% | - |
| Total Current Liabilities | 10.57M | 11.41M | 14.37M | 14.03M | 10.83M | 12.22M | 6.41M | 4.52M | 2.33M |
| Accounts Payable | 2.02M | 3.15M | 6.58M | 3.24M | 3M | 3.19M | 1.61M | 2.84M | 1.04M |
| Days Payables Outstanding | 27.39K | - | 2.1K | 939.94 | 1.68K | 908.65 | 1.84K | 2.67K | 1.12K |
| Short-Term Debt | 0 | 0 | 352K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 8.33M | 4.53M | 5M | 4.5M | 2.9M | 3.8M | 0 | 0 | 0 |
| Current Ratio | 7.70x | 10.09x | 12.22x | 14.78x | 22.80x | 24.66x | 56.90x | 22.57x | 26.75x |
| Quick Ratio | 7.70x | 10.09x | 12.22x | 14.78x | 22.80x | 24.66x | 56.90x | 22.57x | 26.75x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 435K | 838K | 12.43M | 13.45M | 10.79M | 0 | 168.98M | 107.27M |
| Long-Term Debt | 0 | 435K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 976K | 0 | 838K | 12.43M | 13.45M | 10.79M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 168.98M | 107.27M |
| Total Liabilities | 10.57M | 11.85M | 15.21M | 26.46M | 24.28M | 23.01M | 6.41M | 173.51M | 109.6M |
| Total Debt | 217K | 838K | 1.19M | 13.29M | 13.98M | 11.19M | 0 | 0 | 107.23M |
| Net Debt | -12.25M | -37.15M | -39.69M | -24.42M | -94.32M | -161.27M | -361.42M | -73.28M | 76.92M |
| Debt / Equity | 0.00x | 0.01x | 0.01x | 0.06x | 0.06x | 0.04x | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.15x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | - |
| Total Equity | 71.5M | 104.71M | 176.08M | 225.69M | 246.03M | 308.56M | 359.12M | -70.47M | -46.14M |
| Equity Growth % | -173.6% | -40.53% | -21.98% | -8.27% | -20.27% | -14.08% | 609.58% | -52.74% | - |
| Book Value per Share | 1.34 | 1.99 | 3.41 | 4.70 | 5.40 | 6.84 | 8.02 | -1.64 | -15.26 |
| Total Shareholders' Equity | 71.5M | 104.71M | 176.08M | 225.69M | 246.03M | 308.56M | 359.12M | -70.47M | -46.14M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -482.58M | -446.45M | -368.71M | -310M | -241.04M | -167.73M | -109.88M | -75.44M | -50.09M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -82K | 84K | 139K | 224K | -445K | -78K | 0 | -3K | -13K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying PMVP stock.
As of 2025, PMV Pharmaceuticals, Inc. (PMVP) had total assets of $116.6M including $115.2M in current assets.
PMV Pharmaceuticals, Inc. (PMVP) carries total debt of $0.8M, offset by $112.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
PMV Pharmaceuticals, Inc. (PMVP) has total shareholders' equity (book value) of $104.7M ($1.99 book value per share). Book value represents the net worth of the company belonging to common stock holders.
PMV Pharmaceuticals, Inc. (PMVP) reported a current ratio of 10.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Imminent liquidity shortfall risk
Metrics are mathematically derived from official filings.
Asset Base Erosion Signals Vulnerability
As reported in financial statements, PMVP's total assets have contracted from $252.2 million in 2023Q4 to $96.6 million in 2026Q1, reflecting a consistent depletion of resources as the company funds its clinical development pipeline without the benefit of offsetting commercial revenue streams.
The steady decline in total assets suggests that the company is consuming its capital base to sustain operations, which may indicate a narrowing window for clinical success. Investors should monitor this downward trajectory as it limits the firm's ability to absorb potential delays in the PC14586 program.
Cash Runway Nearing Critical Threshold
Based on the company's reported figures, cash and equivalents have dwindled to $37,983,000 as of 2026Q1, a level that appears increasingly precarious given the high, fixed-cost nature of the ongoing Phase 2 PYRENE clinical trial and the lack of alternative funding sources.
While the current ratio remains elevated at 11.14, this metric is somewhat misleading in a pre-revenue context where cash is the only meaningful liquid asset. The rapid depletion of this cash buffer suggests that the firm may be forced to seek dilutive financing in the near term.
Accumulated Deficit Weighs on Equity
According to historical balance sheet data, PMVP's retained earnings have plummeted to -$464.5 million as of 2026Q1, underscoring the significant capital intensity required to advance its precision oncology platform through the clinical development stages without achieving commercial viability.
The persistent growth of the accumulated deficit reflects the ongoing, non-recoverable nature of R&D expenditures. This trend warrants further investigation into whether the company's equity base can withstand further dilution should management need to raise additional capital to reach key clinical milestones.
Asset Composition Risks Clinical Continuity
As indicated by recent SEC filings, the sharp reduction in net PPE from $19.0 million in 2023Q4 to $486,000 in 2026Q1 suggests a potential divestment or impairment of physical assets, which may indicate a strategic pivot toward a leaner, more capital-efficient operating model.
This significant shift in asset composition appears to be a defensive measure to preserve cash, yet it may also limit the company's internal infrastructure capabilities. Analysts should consider whether this reduction in physical footprint impacts the firm's long-term ability to conduct complex clinical research independently.