---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-071988"
form_type: "8-K"
ticker: "PVLA"
cik: "0001583648"
company_name: "PALVELLA THERAPEUTICS, INC."
filed_at: "2025-05-15T23:59:59+00:00"
generated_at: "2026-05-21T04:59:37.360047+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Palvella Phase 3 SELVA enrollment surpasses target; cash $75.6M extends runway into H2 2027

## Summary
- Phase 3 SELVA for microcystic LM exceeded 40-patient enrollment; closes June 2025, top-line Q1 2026.
- Phase 2 TOIVA for cutaneous VM enrolled first patients; top-line results on track for Q4 2025.
- Cash and equivalents $75.6M at March 31, 2025; funds operations into second half of 2027.
- Net loss $8.2M ($0.74 per share) vs $2.7M loss in prior-year period; R&D $4.1M, G&A $3.8M.
- Patent granted for QTORIN rapamycin in microcystic LM; IP extends into 2038.

## SEC filing metadata
- accession: 0000950170-25-071988
- form_type: 8-K
- ticker: PVLA
- cik: 0001583648
- company_name: PALVELLA THERAPEUTICS, INC.
- filed_at: 2025-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1583648/000095017025071988/0000950170-25-071988-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1583648/000095017025071988/pvla-20250515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-071988
- JSON: https://secwatch.observer/filing/0000950170-25-071988.json
- Plain text: https://secwatch.observer/filing/0000950170-25-071988.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.