PMVP - PMV Pharma and Graybug Vision drop sharply as lock-up agreements expire

The clinical-stage clinical-stage biopharma Graybug Vision ([[GRAY]] -14.3%) and precision oncology company PMV Pharmaceuticals ([[PMVP]] -14.2%) have lost double-digit percentage points so far as their lock-up agreements expire.Both companies went public in September 2020. Since then PMV Pharmaceuticals has more than doubled in value while Graybug Vision has shed ~55.4%.Recently, Wedbush downgraded shares of Grayburg Vision to neutral from outperform citing top-line mid-stage data for the company’s lead asset GB-102 in wet age-related macular degeneration and diabetic macular edema.In the recent 10-K filing, PMV Pharmaceuticals said that more than two-thirds of its outstanding common shares of 44.8M as of December 31, will be available for sale in the public market beginning in March 2021 as the lock-up agreements expire.

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PMV Pharma and Graybug Vision drop sharply as lock-up agreements expire