PVLA on Nasdaq

PALVELLA THERAPEUTICS, INC.

American pharmaceutical preparations company, incorporated in Nevada. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerPVLA on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersWayne, Pennsylvania1
  • Incorporated inNV2
  • Business address353 W. Lancaster Avenue, Suite 200, Wayne, Pa 190872
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-27.7%Operating margin3
43.7%Net margin3
65.3%Revenue growth, 20234
-$13.9MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Research and development21¢$8.8M
  • Other costs36¢$15.3M
  • Profit44¢$18.7M

Out of $42.8M in revenue.43

Financial statements

Revenue5674$42.8M in 2023−2% since 2019
0$20.0M$40.0M$60.0M2019: $43.6M$43.6M20192020: $29.3M$29.3M2020−33%2021: $31.4M$31.4M2021+7%2022: $25.9M$25.9M2022−18%2023: $42.8M$42.8M2023+65%
Operating income86743-$11.9M in 2023−56% since 2019
-$60.0M-$40.0M-$20.0M02019: -$27.2M-$27.2M20192020: -$33.9M-$33.9M2020+25%2021: -$51.8M-$51.8M2021+53%2022: -$43.5M-$43.5M2022−16%2023: -$11.9M-$11.9M2023−73%
Net income86743$18.7M in 2023
-$60.0M-$40.0M-$20.0M0$20.0M2019: -$25.5M-$25.5M20192020: -$37.2M-$37.2M2020+46%2021: -$45.7M-$45.7M2021+23%2022: -$33.3M-$33.3M2022−27%2023: $18.7M$18.7M2023

Every line of the income statement as filed: the last 2 fiscal years, latest first.11

Period ending2025-12-312024-12-31
Research and development$22.8M$8.2M
General and administrative$15.8M$5.9M
Total operating expenses$38.6M$14.1M
Operating loss-$38.6M-$14.1M
Interest expense - royalty agreement-$5.8M-$3.9M
Interest expense - convertible notes payable$0-$430.0K
Fair value adjustments on derivative liabilities - royalty agreement-$394.0K-$633.0K
Fair value adjustments on convertible notes payable$0$1.1M
Fair value adjustments on derivative liabilities - contingent value right liability-$218.0K-$2.0M
Other income - German R&D tax credit receivable$0$2.0M
Interest income, net$2.6M$642.0K
Other income (expense), net$727.0K-$131.0K
Loss before income taxes-$41.7M-$17.4M
Income tax benefit (expense)$0$0
Net loss-$41.7M-$17.4M
Foreign currency translation gain$80.0K$3.0K
Comprehensive loss-$41.6M-$17.4M
Net loss per share of Common Stock - basic (in dollars per share)-$3.71-$7.83
Net loss per share of Common Stock - diluted (in dollars per share)-$3.71-$7.83
Weighted-average shares used in computing net loss per share of Common Stock - basic (in shares)11.3M shares2.2M shares
Weighted-average shares used in computing net loss per share of Common Stock - diluted (in shares)11.3M shares2.2M shares

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Leadership

Who has led PALVELLA THERAPEUTICS, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Stephen S. Yoder2015–2023
  2. Wes Kaupinen2024–now

President

  1. Stephen S. Yoder2015–2016
  2. Wes Kaupinen2024–now

Chief financial officer

  1. Darlene M. Deptula-Hicks2015–2016
  2. Lance E. Thibault2017
  3. Allan Reine2018–2019
  4. Thomas Bures2022–2023
  5. Matthew E. Korenberg2024–now

Chief operating officer

  1. Kathleen Goin2024–now
20202025
Board members and other officers (30)

Former names

  • PIERIS PHARMACEUTICALS, INC.Dec 23, 2014 to Dec 12, 20242
  • Marika Inc.Aug 20, 2013 to Dec 18, 20142

Timeline

  1. Dec 16, 2024New chief executive Wes Kaupinen becomes CEO12
  2. Jun 29, 2015New chief executive Stephen S. Yoder becomes CEO13

Filings

316 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 68 major events, 105 insider forms, 45 large holders, 76 other. The latest 20:

  1. Oct 14, 20264 OWNERSHIP DOCUMENT EDGAR
  2. Oct 13, 2026144 EDGAR
  3. Sep 18, 20264 OWNERSHIP DOCUMENT EDGAR
  4. Sep 16, 2026144 EDGAR
  5. Sep 15, 20264 OWNERSHIP DOCUMENT EDGAR
  6. Sep 11, 2026144 EDGAR
  7. Sep 4, 20264 OWNERSHIP DOCUMENT EDGAR
  8. Sep 2, 2026144 EDGAR
  9. Aug 20, 20264 OWNERSHIP DOCUMENT EDGAR
  10. Aug 19, 2026144 EDGAR
  11. Aug 14, 2026SCHEDULE 13G/A EDGAR
  12. Aug 14, 2026SCHEDULE 13G/A EDGAR
  13. Aug 10, 2026SCHEDULE 13G EDGAR
  14. Aug 4, 202610-Q EDGAR
  15. Aug 4, 20268-K EDGAR
  16. Aug 4, 2026S-8 EDGAR
  17. Aug 3, 2026SCHEDULE 13G EDGAR
  18. Jul 29, 2026SCHEDULE 13G EDGAR
  19. Jul 17, 20264 OWNERSHIP DOCUMENT EDGAR
  20. Jul 15, 2026144 EDGAR

The 316 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

25 open-market trades by officers, directors and large owners since October 2021: 10 buys and 15 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 16, 2026Goin KathleenChief Operating OfficerSale4,302$152.24$654.9KForm 4
Sep 15, 2026JENKINS GEORGE MDirectorSale1,777$150.15$266.8KForm 4
Sep 14, 2026JENKINS GEORGE MDirectorSale13,352$151.96$2.0MForm 4
Sep 11, 2026JENKINS GEORGE MDirectorSale12,371$151.28$1.9MForm 4
Sep 2, 2026KIRITSY CHRISTOPHER PDirectorSale313$157.00$49.1KForm 4
Aug 19, 2026Goin KathleenChief Operating OfficerSale4,302$152.21$654.8KForm 4
Jul 15, 2026Goin KathleenChief Operating OfficerSale4,302$149.28$642.2KForm 4
Jun 17, 2026Goin KathleenChief Operating OfficerSale4,302$110.73$476.4KForm 4
May 20, 2026Goin KathleenChief Operating OfficerSale4,302$110.56$475.6KForm 4
Apr 15, 2026Goin KathleenChief Operating OfficerSale4,302$127.24$547.4KForm 4
Mar 30, 2026JENKINS GEORGE MDirectorBuy445$112.30$50.0KForm 4
Mar 18, 2026Goin KathleenChief Operating OfficerSale4,302$117.99$507.6KForm 4
Feb 27, 2026JENKINS GEORGE MDirectorBuy4,000$125.00$500.0KForm 4
Feb 27, 2026HERON ELAINE JDirectorBuy2,400$125.00$300.0KForm 4
Feb 18, 2026Goin KathleenChief Operating OfficerSale4,302$79.40$341.6KForm 4
Jan 21, 2026Goin KathleenChief Operating OfficerSale4,302$97.63$420.0KForm 4
Dec 17, 2025Goin KathleenChief Operating OfficerSale4,302$96.47$415.0KForm 4
Nov 19, 2025Goin KathleenChief Operating OfficerSale4,302$86.23$371.0KForm 4
Apr 9, 2025JENKINS GEORGE MDirectorBuy4,990$20.20$100.8KForm 4
Dec 18, 2024JENKINS GEORGE MDirectorBuy4,000$12.93$51.7KForm 4

All 25 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Montanova Capital, LLC1,135,406$173.5M3.6%−18,090
Jennison Associates LLC960,619$146.8M0.1%+320,008
BlackRock, Inc.918,357$140.3M0.0%+231,504
Frazier Life Sciences Management, L.P.882,400$134.8M2.9%No change
First Light Asset Management, LLC771,901$118.0M7.2%−208,857
Bvf Inc/il672,789$102.8M2.6%−288,200
State Street Corp653,172$99.8M0.0%+194,173
Vanguard Capital Management LLC513,794$78.5M0.0%+36,500
Frontier Capital Management Co LLC478,833$73.2M0.7%+104,798
Federated Hermes, Inc.433,015$66.2M0.1%No change
Woodline Partners LP317,517$48.5M0.2%No change
Orbimed Advisors LLC292,360$44.7M0.8%+157,760
Geode Capital Management, LLC276,164$42.2M0.0%+70,555
Siren, L.L.C.257,485$39.3M0.8%No change
Primecap Management Co/ca/256,182$39.1M0.0%+61,152
Eventide Asset Management, LLC231,484$35.4M0.5%−1,764
Emerald Advisers, LLC229,486$35.1M0.8%+67,986
Fmr LLC214,841$32.8M0.0%−967
Alliancebernstein L.P.253,168$31.6M0.0%−9,667
Mpm Bioimpact LLC204,027$31.2M1.9%−2,377
Goldman Sachs Group Inc201,514$30.8M0.0%+7,335
Morgan Stanley181,428$27.7M0.0%+53,441
First Turn Management, LLC156,450$23.9M2.6%+8,357
Bellevue Group AG155,000$23.7M0.5%New
Emerald Mutual Fund Advisers Trust129,847$19.8M0.7%+24,027

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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