Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
−Removed: Market Price of Common Stock
+Added: Market Information
Our common stock has been listed on the Nasdaq Global Select Market under the symbol “PMVP” since September 25, 2020.
Prior to that date there was no public trading market for our common stock.
−Removed: Holders of Common Stock
−Removed: As of January 31, 2021, there were approximately 43 holders of record of our common stock.
+Added: As of February 28, 2022, there were approximately 8 holders of record of our common stock.
We believe actual number of stockholders is greater than this number of record holders.
5 unchanged sentences
The following graph compares the cumulative total return to stockholder return on our common stock relative to the cumulative total returns of the Nasdaq Composite Index and the Nasdaq Biotechnology Index.
−Removed: An investment of $100 is assumed to have been made in our common stock and each index on September 25, 2020 (the first day of trading of our common stock) and its relative performance is tracked through December 31, 2020.
+Added: An investment of $100 is assumed to have been made in our common stock and each index on January 4, 2021 and its relative performance is tracked through December 31, 2021.
Pursuant to applicable SEC rules, all values assume reinvestment of the full amount of all dividends, however no dividends have been declared on our common stock to date.
7 unchanged sentences
Recent Sales of Unregistered Securities
−Removed: From January 1, 2020 through December 31, 2020, we sold and issued the following unregistered securities, which share numbers have been adjusted, as appropriate, to reflect the 5.2651-for-one reverse stock split which became effective on September 24, 2020:
−Removed: We granted stock options to employees, directors and consultants covering and aggregate of 1,375,196 shares of common stock, at a weighted-average exercise price of $5.23 per share.
−Removed: We sold an aggregate of 4,070 shares of common stock to employees for cash consideration in the aggregate amount of $6 thousand pursuant to stock option exercises.
−Removed: We sold an aggregate of 9,688 shares of common stock to a warrant holder pursuant to exercise of the warrant.
−Removed: Cash consideration for this transaction was $194 thousand.
−Removed: In July 2020, we issued an aggregate of 5,321,864 shares of Series D preferred stock to six accredited investors at a price per share of $13.1533, for total gross proceeds of $70.0 million.
−Removed: In connection with the completion of our IPO, all shares of Series D preferred stock automatically converted into an equivalent number of shares of our common stock.
−Removed: The offers, sales and issuances of the securities described in this Item 5 were deemed to be exempt from registration under the Securities Act under either (i) Rule 701 promulgated under the Securities Act as offers and sale of securities pursuant to certain compensatory benefit plans and contracts relating to compensation in
−Removed: compliance with Rule 701 or (ii) Section 4(a)(2) of the Securities Act (and Regulation D or Regulation S promulgated thereunder) as transactions by an issuer not involving any public offering.
−Removed: The recipients of securities in each of these transactions represented their intention to acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof and appropriate legends were affixed to the stock certificates and instruments issued in such transactions.
−Removed: Use of Proceeds from our Public Offering of Common Stock
+Added: There were no unregistered sales of our equity securities during the fiscal year ended December 31, 2021.
+Added: Use of Proceeds
On September 24, 2020, our registration statement on Form S-1 (File No.
6 unchanged sentences
There has been no material change in the planned use of proceeds from the IPO from that described in the prospectus filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act on September 24, 2020.
+Added: On October 4, 2021, our shelf registration statement on Form S-3 (File No.
+Added: 333-260012) was automatically declared effective by the SEC for our future follow-on offering.
+Added: The potential gross proceeds from this future offering are approximately $150.0 million.
+Added: The company has not issued any shares of common stock pursuant to the offering.
+Added: There has been no material change in the planned use of proceeds from the follow-on offering as described in the Form S-3 Registration Statement.
+Added: None of the expenses associated with the follow-on offering were paid to directors, officers, persons owning 10% or more of any class of equity securities, or to our affiliates.
Purchases of Equity Securities by the Issuer and Affiliated Purchases
−Removed: Selected Financial Data.
−Removed: You should read the selected historical financial data below in conjunction with the section titled “Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the audited financial statements included elsewhere in this report.
−Removed: The selected financial data included in this section are not intended to replace the financial statements included elsewhere in this Annual Report on Form 10-K.
−Removed: We derived the selected statements of operations data for the years ended December 31, 2020, 2019 and 2018 and the selected balance sheet data at December 31, 2020 and 2019 from our audited consolidated financial statements included elsewhere in this
−Removed: report on Form 10-K.
−Removed: Our historical results are not necessarily indicative of the results that may be expected in the future.
−Removed: Operating Expenses:
−Removed: Research and development
−Removed: General and administrative
−Removed: Total operating expenses
−Removed: Loss from operations
−Removed: Other income:
−Removed: Interest income, net
−Removed: Other expense
−Removed: Total other income
−Removed: Loss before provision for income taxes
−Removed: Provision for income taxes
−Removed: Unrealized gains on marketable securities, net of tax
−Removed: Comprehensive loss
−Removed: Net loss per share—basic and diluted
−Removed: Weighted-average common shares outstanding
−Removed: Cash, cash equivalents, and short-term marketable securities
−Removed: Working capital (1)
−Removed: Property and equipment, net
−Removed: Total current liabilities
−Removed: Convertible preferred stock
−Removed: Accumulated deficit
−Removed: Total stockholders’ equity (deficit)
−Removed: (1) Working capital is defined as current assets minus current liabilities.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.