PMV Pharmaceuticals, Inc. Segments Disclosure
13. Segment Information
The Company has viewed its operations and manages its business as one operating and reporting segment. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the Company’s chief operating decision maker (“CODM”) to make decisions with respect to resource allocation and assessment of performance. The Company’s CODM is its (the “CEO”), who reviews and evaluates consolidated net loss for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods. The determination of a single segment is consistent with the financial information regularly reviewed by the CEO.
The CEO regularly reviews the consolidated statement of operations and a disaggregation of operating expenses, of which the significant expenses are related to research and development. The following table represents the significant segment expenses regularly provided to the CEO:
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For the year ended December 31, |
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2025 |
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2024 |
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2023 |
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Research and Development |
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Research |
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$ |
5,232 |
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$ |
5,914 |
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$ |
5,307 |
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Development |
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48,370 |
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35,295 |
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31,740 |
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Personnel related |
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13,668 |
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13,662 |
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13,320 |
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Stock-based compensation |
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2,607 |
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3,656 |
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5,518 |
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Total research and development |
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69,877 |
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58,527 |
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55,885 |
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General and administration |
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Personnel related |
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$ |
5,485 |
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$ |
5,849 |
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$ |
6,748 |
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Stock-based compensation |
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3,317 |
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5,216 |
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6,857 |
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External |
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7,527 |
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15,856 |
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10,642 |
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Total general and administrative |
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16,329 |
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26,921 |
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24,247 |
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Loss from Operations |
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$ |
86,206 |
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$ |
85,448 |
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$ |
80,132 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.