Palvella Therapeutics reported a third-quarter net loss of $24.6 million, or $1.70 per basic and diluted share, compared to a $11.3 million loss in the prior-year period. Research and development expenses rose to $10.8 million from $6.5 million, while general and administrative expenses increased to $11.9 million from $3.6 million due to hiring and professional services. The company holds $236.7 million in cash and short-term investments as of September 30, 2026. Additionally, the FDA accepted the New Drug Application for QTORIN rapamycin for microcystic lymphatic malformations with Priority Review designation, establishing a PDUFA target action date of February 28, 2027. Palvella Therapeutics is a clinical-stage biopharmaceutical company developing therapies for rare skin diseases and vascular anomalies.
