{"id":959642,"date":"2026-05-07T07:34:25","date_gmt":"2026-05-07T11:34:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/palvella-therapeutics-reports-first-quarter-2026-financial-results-and-provides-corporate-update\/"},"modified":"2026-05-07T07:34:25","modified_gmt":"2026-05-07T11:34:25","slug":"palvella-therapeutics-reports-first-quarter-2026-financial-results-and-provides-corporate-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/palvella-therapeutics-reports-first-quarter-2026-financial-results-and-provides-corporate-update\/","title":{"rendered":"Palvella Therapeutics Reports First Quarter 2026 Financial Results and Provides Corporate Update"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>FDA Pre-New Drug Application (NDA) meeting granted for QTORIN\u2122 rapamycin for the treatment of microcystic lymphatic malformations, with meeting expected in second quarter of 2026; NDA submission on track for second half of 2026<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Accelerating U.S. launch readiness for QTORIN\u2122 rapamycin for microcystic lymphatic malformations; BEYONDmLM.com disease awareness campaign launched to educate, engage, and empower patients, caregivers, and healthcare professionals<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Initiation of Phase 3 trial of QTORIN\u2122 rapamycin for the treatment of cutaneous venous malformations planned for second half of 2026<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Initiation of Phase 2 trial of QTORIN\u2122 pitavastatin for the treatment of disseminated superficial actinic porokeratosis planned for second half of 2026<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Phase 2 LOTU trial of QTORIN\u2122 rapamycin for clinically significant angiokeratomas initiated with topline results expected in second half of 2027<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Completed upsized, oversubscribed equity financing of $230.0 million in February 2026; cash, cash equivalents and short-term investments of $261.9 million as of March 31, 2026<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Company to host conference call at 8:30 a.m. ET today<\/em>\n      <\/p>\n<p align=\"justify\">WAYNE, Pa., May  07, 2026  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ek-2XHo-46GHvNVWoeXciN3UcjjQubIFkUef1pIX1rq7soOxQPegjxyCnkH-656MXDBZ1Ib9iRwItqDxeFLAS1xDPL6HP26-Vl5bfiW0eP4=\" rel=\"nofollow\" target=\"_blank\">Palvella Therapeutics, Inc.<\/a> (Palvella or \u201cthe Company\u201d) (Nasdaq: PVLA), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare skin diseases and vascular malformations for which there are no U.S. Food and Drug Administration (FDA)-approved therapies, today reported financial results for the first quarter ending\u00a0March 31, 2026\u00a0and provided a corporate update.<\/p>\n<p align=\"justify\">\u201cFollowing the positive Phase 3 SELVA topline results, we believe Palvella is on a clear path toward near-term NDA submission for QTORIN\u2122 rapamycin in microcystic lymphatic malformations, with the potential for approval and U.S. commercial launch in the first half of 2027,\u201d said Wes Kaupinen, Founder and Chief Executive Officer of Palvella. \u201cOur $230.0 million financing with participation from high-quality new and existing investors meaningfully strengthens our balance sheet, which supports our plan for U.S. commercialization, and enables us to attract key talent as we prepare for a potential first-in-disease launch. At the same time, we continue to rapidly advance our pipeline beyond microcystic LMs, with the goal of expanding our QTORIN\u2122-derived programs across six serious, rare skin diseases and vascular malformations by year-end.\u201d<\/p>\n<p align=\"justify\">\n        <strong>Recent Research and Development Highlights<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <u>QTORIN\u2122 rapamycin for microcystic lymphatic malformations (microcystic LMs)<\/u>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Reported positive topline data from the Phase 3 SELVA study demonstrating statistically significant results across the primary and all pre-specified secondary endpoints.<\/li>\n<li style=\"text-align:justify\">In collaboration with leading nonprofit and advocacy organizations, launched the \u201cBEYOND mLM\u201d disease awareness campaign and BEYONDmLM.com to educate and engage patients, caregivers, and healthcare professionals on microcystic lymphatic malformations.<\/li>\n<li style=\"text-align:justify\">Announced publication in the <em>Journal of Vascular Anomalies<\/em> highlighting the distinct biology and significant unmet need in microcystic lymphatic malformations, supporting early intervention and reinforcing the scientific rationale for QTORIN\u2122 rapamycin as a targeted therapeutic approach.<\/li>\n<li style=\"text-align:justify\">Strengthened global intellectual property for QTORIN\u2122 rapamycin with issuance of a European patent covering anhydrous topical compositions and methods of use, providing protection through 2038.<\/li>\n<li style=\"text-align:justify\">Phase 3 SELVA study results to be presented at the International Society for the Study of Vascular Anomalies World Congress 2026 on May 20, 2026, marking the first presentation of these data at a major medical meeting.<\/li>\n<li style=\"text-align:justify\">Pre-New Drug Application (NDA) meeting with the FDA granted; meeting expected in the second quarter of 2026.<\/li>\n<li style=\"text-align:justify\">NDA submission remains on track for the second half of 2026.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <u>QTORIN\u2122 rapamycin for cutaneous venous malformations (cutaneous VMs)<\/u>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Phase 2 TOIVA study results to be presented at the International Society for the Study of Vascular Anomalies World Congress 2026 on May 20, 2026; additional data presentation planned at the 83rd Annual Meeting of the Society for Investigative Dermatology on May 12, 2026.<\/li>\n<li style=\"text-align:justify\">Submitted application for FDA Breakthrough Therapy Designation in the second quarter of 2026.<\/li>\n<li style=\"text-align:justify\">Phase 3 study initiation anticipated in the second half of 2026.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <u>QTORIN\u2122 rapamycin for clinically significant angiokeratomas<\/u>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Dosed first patients in the Phase 2 LOTU trial, a single-arm, baseline-controlled clinical trial of QTORIN\u2122 rapamycin administered topically once daily for the treatment of clinically significant angiokeratomas.<\/li>\n<li style=\"text-align:justify\">Topline results from LOTU are expected in the second half of 2027.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <u>QTORIN\u2122 pitavastatin for disseminated superficial actinic porokeratosis (DSAP)<\/u>\n      <\/p>\n<ul type=\"disc\">\n<li>Presented qualitative insights at the 2026 American Academy of Dermatology Annual Meeting from ten in-depth interviews highlighting the significant burden of porokeratosis, a rare genetic skin disease with no FDA-approved therapies. These insights underscore its pre-cancerous nature and substantial physical, functional, and psychosocial impact, reinforcing the need for pathogenesis-directed therapies.<\/li>\n<li>Phase 2 trial initiation expected in the second half of 2026.<\/li>\n<\/ul>\n<p>\n        <u>QTORIN\u2122 rapamycin and QTORIN\u2122 platform expansion<\/u>\n      <\/p>\n<ul type=\"disc\">\n<li>Plan to announce the third product candidate from the QTORIN\u2122 platform in a serious, rare disease with no FDA-approved therapies in the second half of 2026.<\/li>\n<li>Plan to announce the fourth clinical indication for QTORIN\u2122 rapamycin in the second half of 2026. The expansion of QTORIN\u2122 rapamycin into additional indications is supported by comprehensive publications which highlight the broad potential of rapamycin in several difficult-to-treat, mTOR-driven skin diseases while advocating for targeted, topical approaches suited to improve tolerability and safety.<\/li>\n<\/ul>\n<p>\n        <strong>Recent Corporate Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:5pt;margin-bottom:5pt\">Closed an upsized and oversubscribed public offering of common stock generating $230.0 million in gross proceeds, including the full exercise of the underwriters\u2019 option to purchase additional shares.<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">Strengthened Palvella\u2019s leadership team with the appointments of Jennifer McDonough, Senior Vice President of Market Access &amp; Patient Services, who previously contributed to the successful launch of VYJUVEK\u00ae at Krystal Biotech, and Kent Taylor as Senior Vice President of Sales, who previously led U.S. commercialization efforts for ZORYVE\u00ae at Arcutis Biotherapeutics and supported the launch of OPZELURA\u00ae at Incyte.<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">Expanded Palvella\u2019s Board of Directors with the appointment of John D. Doux, M.D., M.B.A., a board-certified dermatologist and seasoned life sciences investor with deep expertise in rare skin diseases and biotechnology investing.<\/li>\n<\/ul>\n<p>\n        <strong>First Quarter 2026 Financial Results<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:5pt;margin-bottom:5pt\">Cash, cash equivalents, and short-term investments as of March 31, 2026 were $261.9 million, which reflects net proceeds of $215.8 million from a February 2026 equity financing.<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">Research and development expenses for the three months ended March 31, 2026 were $9.3 million, as compared to $4.1 million for the three months ended March 31, 2025. The increase was primarily due to increased spending for manufacturing activities and costs resulting from increased headcount and consulting services in 2026.<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">General and administrative expenses for the three months ended March 31, 2026 were $5.5 million, as compared to $3.8 million for the three months ended March 31, 2025. The increase was primarily due to increased headcount in 2026, as well as increased professional services related to operating as a publicly-traded company.<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">Net loss was $15.8 million, or $1.20 per basic and diluted share, for the three months ended March 31, 2026, as compared to net loss of $8.2 million, or $0.74 per basic and diluted share, for the three months ended March 31, 2025.<\/li>\n<li style=\"margin-top:5pt;margin-bottom:5pt\">Shares outstanding were 15,738,543 as of May 1, 2026, including 14,342,844 shares of common stock and 1,394,761 common share equivalents assuming conversion of outstanding pre-funded warrants.<\/li>\n<\/ul>\n<p>\n        <strong>Conference Call Details<\/strong>\n      <\/p>\n<p align=\"justify\">Palvella will host a conference call and live audiovisual webcast to discuss the Company&#8217;s full year 2025 financial results and provide a corporate update at\u00a08:30 a.m. ET\u00a0today. To access the live webcast, including slides, please click <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=cVfvIFgwjA2b6hLobd8oyfeWupJbu9sEn6-mme-t20UtjFAxO3oItBHieSGiC2QtRAVBf1fC3DlXFU21kYIcU6--gKAq8iff_etBmN3EtKY=\" rel=\"nofollow\" target=\"_blank\">here<\/a> or visit the \u201cEvents &amp; Presentations\u201d section of Palvella\u2019s website. To join the conference call by phone, dial 800-715-9871 (domestic) or +1 646-307-1963 (international) and provide Conference ID 9970701. Participants are encouraged to dial in approximately 15 minutes prior to the start of the call.<\/p>\n<p align=\"justify\">A replay of the webcast will be available approximately 2 hours after the conclusion of the call and archived for 90 days under the &#8220;Events &amp; Presentations&#8221; section of the Company&#8217;s website at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QKH3UDJxExszr8ZpGWzSELB2zITRMTbUk6AlQzRp4FyQ4K2S946KsWWVOsls2cdrBmTUtISNSUcDbc54imSXf770Oq2N8Cjkq1mXyhwwR57CO4OdZrSOYE_urA-zjGtM5BpwJLKW45hVZvP4Eu7cUccFgj_qGTKyXcd6xGAxdEUT7zlnDUdRpx-8eXeq8FSHs5wlhjS7NNTZUaGF41X838chi--uyQOhG9KBXPhSYLGav6Biyo-Glq_SmTbMo0ZESeEwFlccA2qJaujTppWE9A==\" rel=\"nofollow\" target=\"_blank\">www.palvellatx.com<\/a>.<\/p>\n<p>\n        <strong>About Palvella Therapeutics<\/strong><br \/>\n        \n      <\/p>\n<p align=\"justify\">Founded and led by rare disease biotech veterans, Palvella Therapeutics, Inc. (Nasdaq: PVLA) is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare skin diseases and vascular malformations for which there are no FDA-approved therapies. Palvella is developing a broad pipeline of product candidates based on its patented QTORIN\u2122 platform, with an initial focus on serious, rare skin diseases and vascular malformations, many of which are lifelong in nature. Palvella\u2019s lead product candidate, QTORIN\u2122 3.9% rapamycin anhydrous gel (QTORIN\u2122 rapamycin), is currently being developed for the treatment of microcystic lymphatic malformations, cutaneous venous malformations, and clinically significant angiokeratomas. Palvella\u2019s second product candidate, QTORIN\u2122 pitavastatin, is currently being developed for the treatment of disseminated superficial actinic porokeratosis. For more information, please visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QKH3UDJxExszr8ZpGWzSELolzYCssGcjkDkZGtfL3bQpY4O-IaTwo93ul0y-poLoZFou5PYzwyqJX5nPBy0X8G-b9bF1qbLbWAPSXiGVdcH2dcVa6UIygT9LvQGY81_7ZkiXUiL0o2nzVk5mwsOWc4tgfhRh4JBY_NV6fhjW2kQzpEQM2cEYdn15uxiUuKStezcFfxoYt1aBwOyEGCFY1rTkPO9Ok9XJM8mU2dz_FUOHqFvnV1dCYS_lkCcWLvmVhye1XVwM6DON0E4AYO4gAXmU7BeMH8Nr2gdgK0kC3BbV__Fa8xGoVvswzyCMViBbeLkzBqzjCCd6MUsjX6lc4H4EY57oIBTqj0xGzIFlAgEhaaBTWuMVGUuziJV0tvzpDfqucqSS4rXj5Q5k3MsNhJW0juc5T2l357nOy3kl5Lx9gKby7d4exryDdsN8vcNvQlWwijtYUUbwKh2SIpsvXYGWDSX2l7JPV_8TwwP2t0Pdo1eKpFCw6rVg0KLPB-NkXCL8ZhQq9OBugqhi2Mcx5aV36L5BATcp_NfUz5xwrcNoQ-9G0jf5dscbvD_bIzA9oJTS5KCa5LhYodQYmICgJXjxemxOlxQcVI-gqLXqXBNsBcJ7ek1WLd1TJGBoPoDRd1-Jy-LkxiOAAd4LdOVwV-pETfAh2NwaJemQFcQ71-lDvbfMK6vaiIBpCwCNl5c2VW5gkbocU9qXgkNBofm_NiXUFYG4apoBTC9JNMnUt-a8NhCRics9t8k4MmJarvLtzxjcu6QLcLXtGvNid2dKlA==\" rel=\"nofollow\" target=\"_blank\">www.palvellatx.com<\/a>\u00a0or follow Palvella on\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2go81mqug7_VHNiHJAd0_CZFB_DoTmknuZjcC7flgLkVIt6BVYPjSG4JNyzoLc6UOWrHZyRJGSjqNCb8ELJCDSmeVPbVPZ4HBaUagerwOgfws2W-Ngu5-Xi0X7TN-EtGp6K_EjiJwa2cGdPL_BW1wPHeV4uMCWE8NSjRQ7vElalKanIYYrZlND7dAC9F6k7RyyMkmkd4LuUDsPnYA9TJUtnJo_oniizUuSy4GOgBeaaryGf6NplUcNlOznfssryxMF-smnd1l7iW6sZvn-e0tdU9XjRlbzslGNHebdoh8ozLkWvb0x5Y1aDSjMXaIdF7HhCcXwyW9u3150T5zeVQ7DQFbdb2XgRtKfDA5CfDPXLjmyQP8KUf0CogOnup9YLcPE9mbjSePQT_6wCt4VxK1foiMBpavWSxwjFJn2uVjYj3UMp1HGCSgRreZyOB1C8DSgO7fujOgk_G8tgQ8VclJncKr52D115iX7blFcDW3jSZ-xW9mhDr4u65TpTVuNeXrRErG-yRHdM9GNdDQyCV3OyKpWQhw0vyh2r20zGEGDEkU1os46CbUXjNkHG2eUemfPMlVewUErnntYELK7sDgQtftk4dCdQMPOeU14h9F8IX6BYVdMN1sksLkF_0QtYqwrUWqAHpXZ5QFSLhICpxT5EcTQtf4tWh29oEbjT3wh9IErYGgWJOe-krlwU9ml79KEgbCYGFtvQ_l1PXuj_hOe7qijXkwD-9vP19J9FFgokwBZPaHtt2L5612x6YOFxE\" rel=\"nofollow\" target=\"_blank\">LinkedIn<\/a>\u00a0or\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=26Kj2dGkSUjNuZeLuVQ799eGdvEnb28J0efMOoEwxhs24MS646R8Y8mz39NnF5nUtpW8UypqH3-Der1EMmtTjy28pGT6vTfFTeAT8dulCtuH43O_u-Bbl_UgsEQn8C60LLqQWRrYIPbPCHqvh9wpPt9A2-9LShtzHqM_G1ejqLZWCqmcAup8mVuZ7Zz7_ey9Np73AgtUW3aMdglOmJ_iB961MuwTMVmoekl80eJ7k5OvN1JLQIN2Yh_h9igRaXJJjXzNA7f3FgRv59upKb1pNRIzJGRPbn9LCz9x2RlD1s4hTb7S7lr565cdwlHtPeRokpoyEjggIHimC2cU4vCDpr8szHlEYtYom7WWxsl3y_MaZZIz0-Hho53t1eh2NxK_Tbx17toBQ2NmGsNy9Wkw8in37AWZwOj_cBIdAVKh3mmgkVrX64KJPMbboSEg7luWXmgrlX6jZNd30jQWseTGJPeRhTSGDeaPWqHnpCOBPBFJL9ZzVtZelp8XAxFrqZwpmGtv6scfhXgeDwJyUmmyLP51u6H6CmI3AEe5Z3KUnmyBwAYS6gBl0qVklq-qL9yBmjeZp_1F1NlJx20l8N5RcUtzUPk8Em8AfOuyWmKtw4A=\" rel=\"nofollow\" target=\"_blank\">X<\/a>\u00a0(formerly known as Twitter).<\/p>\n<p align=\"justify\">QTORIN\u2122 rapamycin and QTORIN\u2122 pitavastatin are for investigational use only and neither has been approved by the FDA or by any other regulatory agency for any indication.<\/p>\n<p><strong>Forward-Looking Statements<\/strong><\/p>\n<p align=\"justify\">This press release contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended (Securities Act)). These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Palvella, as well as assumptions made by, and information currently available to, the management of Palvella. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201clikely,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cintend,\u201d and other similar expressions or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Statements that are not historical facts are forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the expected timing of the presentation of data from clinical trials, Palvella\u2019s clinical development plans and related anticipated development milestones, Palvella\u2019s plans to pursue Breakthrough Therapy Designation, Palvella\u2019s plans to meet with regulatory authorities, Palvella\u2019s expectations regarding the benefits of orphan drug designation and potential benefit of orphan drug exclusivity for QTORIN\u2122 rapamycin for the treatment of microcystic lymphatic malformations, Palvella\u2019s cash, financial resources and expected runway, Palvella\u2019s expectations regarding its programs, including QTORIN\u2122 rapamycin and QTORIN\u2122 pitavastatin, and its research-stage opportunities, including its expected therapeutic potential and market opportunity. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the ability to raise additional capital to finance operations; the ability to advance product candidates through preclinical and clinical development; the ability to obtain regulatory approval for, and ultimately commercialize, Palvella\u2019s product candidates, including QTORIN\u2122 rapamycin and QTORIN\u2122 pitavastatin; the outcome of early clinical trials for Palvella\u2019s product candidates, including the ability of those trials to satisfy relevant governmental or regulatory requirements; the fact that data and results from clinical studies may not necessarily be indicative of future results; Palvella\u2019s limited experience in designing clinical trials and lack of experience in conducting clinical trials; Palvella\u2019s limited experience in commercial manufacturing; the ability to identify and pivot to other programs, product candidates, or indications that may be more profitable or successful than Palvella\u2019s current product candidates; the substantial competition Palvella faces in discovering, developing, or commercializing products; the negative impacts of global events on operations, including ongoing and planned clinical trials and ongoing and planned preclinical studies; the ability to attract, hire, and retain skilled executive officers and employees; the ability of Palvella to protect its intellectual property and proprietary technologies; reliance on third parties, contract manufacturers, and contract research organizations; and the risks and uncertainties described in the filings made by Palvella with the Securities and Exchange Commission (SEC), including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the SEC and available at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=AFe9lny9eNe5swyp1Yhq6jV7B3pvQjQ7rMOV02mYK9QN4BKePWeZlEekAdfoaexsRe9aZsa891OAYAy51PnBTxdaMafG1ESSeWqIxVC__BNx-dQZmBfoBy3IwvYCq2_L6tS-09FPguP4mOijeyX5FuZHsRvGzJeuCa-vWoBRiHx5JJ3ZF1jfAvCTAyqdqbFhhiyVn6AtaTTSjwuzlg2G8y1o77F-ASrwnmCMtX3C_TYHrfRj1jUENbZ8vR8MSMbfglcEVIQt4daqqR1JOdx9iLt8qyAkfYPlpdQWkwfPYKFsJZM4oYXkdBAGdNm0pfP2TsZBWbtKUdCPhZAC3q6fbjrVtDHQ_-uZ1CiLI1cBYOKF0RgLPkBxz6nLillZbHRPq0KLDzGWodmvlz-dWyNjmYxlmvTT3PePeuA5P1m0q8k=\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>. The events and circumstances reflected in our forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties that Palvella may face. Except as required by applicable law, Palvella does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. This press release contains hyperlinks to information that is not deemed to be incorporated by reference into this press release.<\/p>\n<p>\n        <strong>Contact Information<\/strong><\/p>\n<p>        <u>Investors<\/u><br \/>\n        <br \/>Wesley H. Kaupinen<br \/>Founder and CEO, Palvella Therapeutics<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Ssd1G6xG1qgMVhv9hxmIFTFWMuEmkgNfqsdlfkSO4cnDu1S6uEzhZRh_HDuBqMB1YY4YeMaNFoNpSI0zL-zvH7-1PuLmlCk2XExt-TEpHVd84GOMaOwIunAaQ0DbtYHluokjUfnDL_NlZXfhMiBJ4Tq47yGLqfEZMFVWw2FCP51_S_EOXx31obaT6pRqhsS4pU49IKpIfmR4QKWjexQkFY4dO8oGgFcF3cHq5xFx4Vu3ZGzExL00lFhvm9_zCz8yBPDjcuv6C9g6QATggicwqmDNEGGFjpz07XvRc560LNMOeXyQTZc46OgLL7x5-I4h\" rel=\"nofollow\" target=\"_blank\">wes.kaupinen@palvellatx.com<\/a><\/p>\n<p><u>Media<\/u><br \/>Marcy Nanus<br \/>Managing Partner, Trilon Advisors LLC<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zdMhUah9Hi8AArR9RCxK8Gsjcs47oVp2eMFEcCtJqTjqBvUhYl8aCPTD1hzo7O2Rn2eWsI7MBjoxugJmx1bKtLMgTm7EVwqJDx6ZP3F6eBlOgtA10Lc1nh-mYLcnQpc5pOUyp2FHu_-Zf6jvMVthm7rX493KPPckC8r-i9WWSVPSIY9L-AiQVIsCoFYVPx8egYtFacdXlSPHlZ3GkeIhiZxO8fw7TmjoosiBku-Ep1M3_rTQKs8AJhSnbT9kmoyuK-pgd_hff1l1kGVvrpy1YsAzzrR2J654Uq66Qzk078kW-ZAMqtH2oTlvWoT_ApBs70lfE5NR-5t5CXKX0uq0HQ==\" rel=\"nofollow\" target=\"_blank\">mnanus@trilonadvisors.com<\/a>\u00a0 \u00a0 \u00a0<\/p>\n<p>\n        \n      <\/p>\n<p>\n        \n      <\/p>\n<p align=\"justify\">\n        <strong>PALVELLA THERAPEUTICS, INC.<\/strong><br \/>\n        <br \/>\n        <strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<br \/><\/strong><br \/>\n        <strong>(in thousands, except share and per share amounts)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>March\u00a031,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:70%;width:70%;min-width:70%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Operating expenses:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Research and development<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9,334<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,074<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">General and administrative<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,521<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,797<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total operating expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">14,855<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,871<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Loss from operations<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(14,855<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(7,871<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total other income (expense), net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(912<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(314<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net loss<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(15,767<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(8,185<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;vertical-align: bottom\">Net loss per share of Common Stock \u2014 basic and diluted<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1.20<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.74<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;vertical-align: bottom\">Weighted-average shares used in computing net loss per share of Common Stock \u2014 basic and diluted<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13,085,271<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">11,013,697<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>\n        <\/strong>\n      <\/p>\n<p>\n        <strong><br \/>\n          <br \/>\n        <\/strong>\n      <\/p>\n<p>\n        <strong>PALVELLA THERAPEUTICS, INC.<\/strong><br \/>\n        <br \/>\n        <strong>CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION<\/strong><br \/>\n        <br \/>\n        <strong>(in thousands)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>March 31,<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:72%;width:72%;min-width:72%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Assets<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Cash and cash equivalents<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">206,394<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">57,982<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Short-term investments<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">55,459<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other current assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,378<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,005<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total current assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">263,231<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">58,987<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Non-current assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">528<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">572<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">263,759<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">59,559<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Liabilities and Stockholders&#8217; Equity<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Current liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9,115<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">11,344<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Non-current liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,331<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">20,232<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">31,446<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">31,576<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total stockholders&#8217; equity<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">232,313<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">27,983<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total liabilities and stockholders\u2019 equity<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">263,759<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">59,559<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcxNTE0MSM3NTg5MjczIzIxMjMxNjM=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ODAyZjc2MmQtMjEzMi00YjQ2LTkyYTctYTg1ODBjNmRlMDk3LTExMzQ3MzQtMjAyNi0wNS0wNy1lbg==\/tiny\/Palvella-Therapeutics-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FDA Pre-New Drug Application (NDA) meeting granted for QTORIN\u2122 rapamycin for the treatment of microcystic lymphatic malformations, with meeting expected in second quarter of 2026; NDA submission on track for second half of 2026 Accelerating U.S. launch readiness for QTORIN\u2122 rapamycin for microcystic lymphatic malformations; BEYONDmLM.com disease awareness campaign launched to educate, engage, and empower patients, caregivers, and healthcare professionals Initiation of Phase 3 trial of QTORIN\u2122 rapamycin for the treatment of cutaneous venous malformations planned for second half of 2026 Initiation of Phase 2 trial of QTORIN\u2122 pitavastatin for the treatment of disseminated superficial actinic porokeratosis planned for second half of 2026 Phase 2 LOTU trial of QTORIN\u2122 rapamycin for clinically significant angiokeratomas initiated with topline results expected in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/palvella-therapeutics-reports-first-quarter-2026-financial-results-and-provides-corporate-update\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Palvella Therapeutics Reports First Quarter 2026 Financial Results and Provides Corporate Update&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-959642","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Palvella Therapeutics Reports First Quarter 2026 Financial Results and Provides Corporate Update - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/palvella-therapeutics-reports-first-quarter-2026-financial-results-and-provides-corporate-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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