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MARKETS / NASDAQ / PVLA
NASDAQ · PHARMACEUTICAL PREPARATIONS · SMALL CAP

Palvella Therapeutics, Inc. PVLA

13 fiscal years on record · USD · FY2025 reported · SEC filings only
$-41.7M
In brief

What this company does

We intend to leverage our versatile QTORIN platform to minimize the challenges and timelines typically associated with generating novel topical product candidates. Our lead product candidate, QTORIN 3.9% rapamycin anhydrous gel (“QTORIN rapamycin”), is currently in clinical development for microcystic lymphatic malformations (“microcystic LMs”) and cutaneous venous malformations (“cutaneous VMs”). As of March 25, 2026, we had 29 full-time employees, of which two have Ph.Ds. We were incorporated in the State of Nevada in May 2013 under the name “Marika Inc.” and began operating the business of Pieris Pharmaceuticals GmbH (formerly Pieris AG, a German company which was founded in 2001), through a reverse acquisition on December 17, 2014. On December 13, 2024, we completed a reverse merger transaction (the “Merger”) with Legacy Palvella, and, upon completion of the Merger, we changed our name to “Palvella Therapeutics, Inc.” Legacy Palvella was formed under the laws of the State of Delaware on September 11, 2015 as Palvella Therapeutics LLC, a limited liability company.

Written from the business description in Palvella Therapeutics, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 31 March 2026. Every sentence was checked against that document before publication.

Growth
Revenue, FY2025 · full 13-year series below
Revenue $M Net income $M
FY2023 · Revenue 38.7 · Net income 18.7
20M-20M-40M2013201520172019202120232025
Compound annual growth
+17.4%
+7.3%
+12.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +7.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
Operating margin Net margin
FY2023 · Operating -30.7% · Net 48.3%
-200%-400%2013201520172019202120232025
ROE
FY2025 · ROE -92.1%
-50%-100%2013201520172019202120232025

Each USD of equity lost 92 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2023 · FCF -13.9
20.0M40.0M-25.0M-50.0M2013201520172019202120232025

Total assetsUSD 59.6M
EquityUSD 28.0M
CashUSD 58.0M
Current ratio5.20×

Equity funds 47% of total assets.

The 13-year record
13 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013
Revenue $B··0.00.00.00.00.00.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0
EBITDA $B··−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0
Income tax $B0.00.00.00.00.00.00.0−0.00.00.00.0−0.0·
Net income $B−0.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0
Free cash flow $B··−0.0−0.1−0.0−0.0−0.1−0.00.0−0.0−0.0−0.0−0.0
EPS, diluted $−3.71−7.832.17·−0.71−0.68−0.56−0.50−0.40−0.55−0.41−0.710.01
Dividend / sh $·············
Payout %·············
ROE %−92.1···−111.9−90.4−55.8−104.0−96.0−80.9−57.2−106.011.3
Shares out B0.010.010.000.070.070.060.060.050.050.040.040.030.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 1 failures in 52 reconciliationsAUDITED

Reconciled in 12 of 19 fiscal years. 24 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente1 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inNevada
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2013

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