Every 10-Q that Palvella Therapeutics Inc (PVLA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PVLA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PVLA filings page.
Palvella Therapeutics is a late clinical-stage biopharmaceutical company focused on serious, rare skin diseases and vascular malformations. For the six months ended June 30, 2026, it advanced lead topical candidate QTORIN rapamycin toward U.S. approval for microcystic lymphatic malformations, with a rolling NDA underway and the first module submitted; completion is targeted for the second half of 2026. QTORIN is also in Phase 2 development for cutaneous venous malformations and clinically significant angiokeratomas, and IND-enabling work continues for QTORIN pitavastatin in disseminated superficial actinic porokeratosis.
Palvella reported a net loss of $37.6 million for the six-month period, compared with $17.7 million a year earlier, reflecting higher research and development and general and administrative spending, including stock-based compensation. An underwritten equity offering generated $215.8 million in net proceeds, lifting cash and short-term investments to $250.6 million at June 30, 2026. Management expects this liquidity to fund operations for at least 12 months while the company continues clinical programs and services a Ligand funding and royalty agreement liability linked to future QTORIN sales.
Palvella Therapeutics, Inc. reported a net loss of $15.8 million for the three months ended March 31, 2026, compared with $8.2 million a year earlier, as it increased investment in late-stage rare dermatology programs. Research and development expenses nearly doubled to $9.3 million, and general and administrative costs rose to $5.5 million.
The company significantly strengthened its balance sheet through a February 2026 equity financing, issuing 1,840,000 shares and lifting total cash and cash equivalents to $206.4 million, plus $55.5 million of short-term U.S. Treasury investments. Total assets were $263.8 million and stockholders’ equity was $232.3 million. Management expects existing cash resources to fund operations for at least one year while advancing QTORIN rapamycin and QTORIN pitavastatin through clinical development.
Palvella Therapeutics (PVLA) reported third‑quarter 2025 results highlighting increased investment in late‑stage programs and a larger loss. Cash and cash equivalents were $63.6 million at September 30, 2025, down from $83.6 million at year‑end. Q3 operating expenses rose to $10.2 million, driven by research and development of QTORIN rapamycin and higher general and administrative costs. The company recorded a net loss of $11.3 million for Q3 2025 and $29.0 million year‑to‑date.
Palvella’s royalty agreement liability increased to $16.0 million, with non‑cash interest expense of $1.5 million in Q3. Net cash used in operating activities was $20.1 million for the nine months. Management states existing cash is sufficient to support operations for at least one year from the financial statement issuance date. Clinical progress continued: the Phase 3 SELVA trial completed enrollment with 51 patients, and the Phase 2 TOIVA trial completed enrollment with 16 patients. The company recognized $0.4 million of government grant income year‑to‑date related to SELVA and received $0.5 million in May and $0.6 million in October 2025. Shares outstanding were 11,836,490 as of November 7, 2025.
Palvella Therapeutics, Inc. is a late clinical-stage biopharmaceutical company focused on topical QTORIN rapamycin for rare genetic skin diseases. At June 30, 2025 the company held $70.4 million in cash and cash equivalents, total assets of $73.7 million and an accumulated deficit of $111.4 million. For the six months ended June 30, 2025 Palvella reported a net loss of $17.7 million driven by total operating expenses of $17.1 million (R&D and G&A).
The company completed a reverse merger and related PIPE financing that provided substantial capital; management states existing cash is sufficient to support operations through at least one year from issuance of these statements assuming no additional fundraising. Key balance sheet items include a $14.5 million royalty agreement liability and Level 3 derivative liabilities for the royalty agreement and contingent value rights totaling $3.8 million. Clinical progress includes completion of enrollment in the Phase 3 SELVA trial (51 subjects), dosing in the Phase 2 TOIVA trial, receipt of an initial $0.5 million FDA grant, and a newly granted U.S. patent for anhydrous rapamycin formulations.