Palvella Therapeutics reported a net loss of $21.9 million, or $1.52 per share, for the quarter ended June 30, 2026, compared to a $9.5 million loss in the prior year period. Cash and short-term investments totaled $250.6 million as of June 30, 2026. The company submitted the first module of its rolling New Drug Application (NDA) for QTORIN™ rapamycin to treat microcystic lymphatic malformations and remains on track to complete the submission in the second half of 2026. Additionally, Palvella plans to initiate a Phase 3 trial for cutaneous venous malformations in Q4 2026 and a Phase 2 trial for QTORIN™ pitavastatin in H2 2026. The company is preparing for a potential standalone U.S. commercial launch of QTORIN™ rapamycin in the first half of 2027 if approved. Palvella Therapeutics, Inc. operates in the biopharmaceutical industry, developing and commercializing novel therapies for rare skin diseases and vascular malformations.

Palvella Therapeutics, Inc. expanded its Board of Directors from seven to eight members on June 29, 2026, with the appointment of Matthew Pauls as a Class I director. Mr. Pauls, the current CEO of Savara, Inc., brings extensive biopharmaceutical leadership experience from roles at Strongbridge Biopharma, Insmed, and Johnson & Johnson. As part of his appointment, he was granted an option to purchase 6,000 shares of common stock, vesting monthly over a thirty-six-month period. The Board has designated Mr. Pauls as an independent director. Palvella Therapeutics, Inc. is a biopharmaceutical company.

At its 2026 Annual Meeting of Stockholders on June 10, 2026, Palvella Therapeutics, Inc. stockholders approved an amendment to the 2024 Equity Incentive Plan, increasing the authorized shares issuable under the plan by 750,000 shares. Stockholders also elected George M. Jenkins, Todd C. Davis, and John Doux, M.D. as Class III directors, ratified Ernst & Young LLP as the independent auditor, and approved executive compensation on an advisory basis. The company operates in the biotechnology industry and develops therapeutic treatments.