PMV Pharmaceuticals Shares Up as Initial PC14586 Phase 1 Clinical Data to be Presented at the 2022 American Society of Clinical Oncology

May 27, 2022 By MarketDepth

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PMV Pharmaceuticals, Inc. (NASDAQ: PMVP) shares jumped about 25% on Friday, after the Company announced the online publication of the abstract for its lead program, PC14586, accepted as an oral presentation at the 2022 American Society of Clinical Oncology (ASCO) annual meeting being held June 3-7, 2022 in Chicago, Illinois.

Development of Therapies

PMV Pharma is a precision oncology company pioneering the discovery and development of small molecule, tumor-agnostic therapies targeting p53.The published abstract describes preliminary outcomes from 29 patients, including 21 efficacy evaluable, from the ongoing Phase 1/2 PYNNACLE trial of PC14586 in patients with advanced solid tumors that have a p53 Y220C mutation. These initial data from our Phase 1/2 tumor agnostic study enrolled patients across multiple tumor types over a broad range of doses. The preliminary clinical pharmacokinetics data showed dose proportional increases in Cmax and AUC. In addition, the safety profile was encouraging as PC14586 was well-tolerated.

“Patients whose tumors carry a p53 mutation are known to have a poor prognosis. The patients who were enrolled in our study had very limited or no other standard treatment options available to them. Early efficacy and safety data from this Phase 1/2 trial provide the potential of a p53 therapy. We look forward to Dr. Dumbrava’s presentation of these data at ASCO and continuing to progress the PC14586 development program.”

David Mack, Ph.D., President and CEO, PMV Pharma

The oral presentation at ASCO containing updated data from the trial will be presented by Ecaterina Ileana Dumbrava, M.D., of the University of Texas MD Anderson Cancer Center. PC14586 is a first-in-class precision oncology small molecule investigational therapy that selectively targets the p53 Y220C mutation in solid tumors.