Palvella Therapeutics, Inc.

PVLA

$155.47

+1.65%

N/A+$2.52

Healthcare

Biotechnology

NASDAQ

Active Trading

Palvella Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative treatments for patients afflicted with ...

Supply Chain of PVLA

Upstream

Foundry, packaging, memory, wafers, components, and input vendors.

Upstream

MedPharm

Ligand Pharmaceuticals Incorporated

Contract Research Organizations (CROs) - Unnamed

Rapamycin (Sirolimus) API Manufacturers - Unspecified

Excipient & Packaging Material Suppliers - Unspecified

MedPharm

Primary CDMO - Formulation development and clinical/commercial manufacturing of QTORIN™ rapamycin topical gel. Supports end-to-end development from formulation through scale-up.

Ligand Pharmaceuticals Incorporated

NASDAQ:LGND

Strategic development & royalty partner. Provided $10M upfront (2018) and $5M expanded partnership payment (2023) for milestone/royalty rights to QTORIN rapamycin (PTX-022). Not a traditional supplier but a capital-providing partner critical to funding development and manufacturing scale-up.

Contract Research Organizations (CROs) - Unnamed

Clinical trial management, site monitoring, data management for Phase 2/3 SELVA and TOIVA studies. SEC filings note dependence on CROs but specific vendors not publicly disclosed.

Rapamycin (Sirolimus) API Manufacturers - Unspecified

Active Pharmaceutical Ingredient suppliers for QTORIN rapamycin gel. Palvella does not publicly disclose specific API vendors. Potential global suppliers include Chunghwa Chemical Synthesis & Biotech (Taiwan), Pfizer (NYSE:PFE), Biocon (NSE:BIOCON), Zydus Cadila (NSE:ZYDUSLIFE), and LGM Pharma.

Excipient & Packaging Material Suppliers - Unspecified

Suppliers of anhydrous gel excipients, tube/container packaging for topical pharmaceutical products. Specific vendors not disclosed.

Downstream

Customers, distributors, OEMs, and channels that absorb output.

Downstream

Ligand Pharmaceuticals Incorporated

PC Project (Patient Advocacy Organization)

Specialty Pharmacies (Unnamed - Planned)

Ligand Pharmaceuticals Incorporated

NASDAQ:LGND

Royalty rights holder. Ligand receives a tiered mid-to-upper single-digit royalty on net sales of QTORIN rapamycin (PTX-022) and certain other Palvella products. Expanded in 2023 to include additional indications.

PC Project (Patient Advocacy Organization)

Patient advocacy and clinical trial recruitment partner for Pachyonychia Congenita program. Supports patient identification, education, and trial enrollment for QTORIN rapamycin in PC.

Specialty Pharmacies (Unnamed - Planned)

Planned distribution channel for commercial launch. Palvella's SEC filings state intent to distribute QTORIN rapamycin through specialty pharmacy partners for rare disease patient access and reimbursement support. Specific partners not yet selected/publicly named as of Q1 2026.

Proxies

Public comparables and monitoring names used as representatives for the analysis.

Proxies

Ligand Pharmaceuticals Incorporated

Krystal Biotech, Inc.

Castle Biosciences, Inc.

Pieris Pharmaceuticals, Inc. (Legacy)

Ligand Pharmaceuticals Incorporated

NASDAQ:LGND

Direct royalty partner on QTORIN rapamycin; provides a public-market proxy for Palvella's pipeline value. Ligand's business model of funding development in exchange for royalties closely mirrors Palvella's commercialization partnership structure.

Krystal Biotech, Inc.

NASDAQ:KRYS

Comparable rare genetic skin disease biopharma with approved product (VYJUVEK for dystrophic epidermolysis bullosa). Similar target patient population, specialty derm commercial model, and rare disease regulatory pathway.

Castle Biosciences, Inc.

NASDAQ:CSTL

Dermatology-focused precision medicine company providing a public-market comparator for the rare dermatology commercial infrastructure Palvella is building.

Pieris Pharmaceuticals, Inc. (Legacy)

Unconfirmed

Predecessor public shell; Palvella acquired the Nasdaq listing via reverse merger with Pieris (former ticker PIRS). Pieris no longer trades as an independent entity.

Geographic

Region-level exposures that can distort the supply network.

Geographic

United States

United Kingdom

United States (North Carolina)

Palvella Therapeutics, Inc. (Headquarters - Wayne, PA)

MedPharm Ltd (Guildford, UK)

MedPharm (Durham, NC - former Tergus Pharma site)

United States

Primary operations & regulatory jurisdiction

Palvella Therapeutics, Inc. (Headquarters - Wayne, PA)NASDAQ:PVLACorporate HQ, all management, R&D oversight, regulatory strategy, clinical operations

United Kingdom

CDMO manufacturing & clinical trial sites

MedPharm Ltd (Guildford, UK)Primary CDMO facility for QTORIN formulation development and clinical manufacturing

United States (North Carolina)

CDMO manufacturing (secondary site)

MedPharm (Durham, NC - former Tergus Pharma site)Combined CDMO facility following MedPharm-Tergus merger; topical formulation & manufacturing capability

Taiwan / China / India (Potential)

API sourcing exposure

Rapamycin API Manufacturers (Unconfirmed - potential suppliers in Taiwan, China, India)Potential supply of raw rapamycin API. Specific supplier(s) not publicly identified. Geopolitical and trade risks applicable if sourced from China.

Concentration

Customer, supplier, or partner concentration exposures that can distort the supply network.

Other

Critical

Single product dependency - QTORIN rapamycin is the sole late-stage pipeline asset. No FDA-approved products or commercial revenue. Business viability hinges entirely on successful regulatory approval and commercialization of this single product candidate.

Other

High

CDMO concentration - MedPharm serves as the primary formulation development and manufacturing partner for QTORIN rapamycin. Any disruption at MedPharm's Guildford (UK) or Durham (NC) facilities would significantly delay clinical supply and potential commercial launch.

Other

High

Single API concentration - QTORIN rapamycin uses rapamycin (sirolimus) as the sole active ingredient. Supply disruption or quality issues at the API source would halt all pipeline programs simultaneously.

Other

Critical

Clinical-stage revenue risk - $22.8M R&D spend in FY2025 with zero product revenue. Company has $261.9M cash (Q1 2026) post $230M equity raise, but remains pre-revenue with no guarantee of FDA approval or commercial success.

Revenue mix

How the target's revenue mix translates into supply-chain leverage and dependency.

QTORIN™ Rapamycin 3.9% Gel - Microcystic Lymphatic Malformations (Phase 3 complete, pre-NDA)

0.0%

Lead pipeline asset; all upstream CDMO/CRO capacity is dedicated to this program. If approved, will drive first commercial demand for rapamycin API, topical gel manufacturing at MedPharm, and specialty pharmacy distribution.

QTORIN™ Rapamycin - Cutaneous Venous Malformations (Phase 2)

0.0%

Shares QTORIN platform and same CDMO supply chain as lead indication. Expansion would leverage existing MedPharm manufacturing processes and API sourcing.

QTORIN™ Rapamycin - Angiokeratomas (Phase 2 planned)

0.0%

Early-stage; incremental CRO and clinical supply needs but same formulation supply chain as lead program.

QTORIN™ Pitavastatin - DSAP (Phase 2 planned 2026)

0.0%

New chemical entity within QTORIN platform; would require separate API sourcing for pitavastatin and new formulation development with MedPharm or alternative CDMO.

PTX-014 / Preclinical Pipeline

0.0%

Preclinical; minimal current supply chain impact. Future upstream CRO/CDMO needs not yet contracted.

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Palvella Therapeutics, Inc.

Supply Chain of PVLA

Upstream

MedPharm

Ligand Pharmaceuticals Incorporated

Contract Research Organizations (CROs) - Unnamed

Rapamycin (Sirolimus) API Manufacturers - Unspecified

Excipient & Packaging Material Suppliers - Unspecified

Downstream

Ligand Pharmaceuticals Incorporated

PC Project (Patient Advocacy Organization)

Specialty Pharmacies (Unnamed - Planned)

Proxies

Ligand Pharmaceuticals Incorporated

Krystal Biotech, Inc.

Castle Biosciences, Inc.

Pieris Pharmaceuticals, Inc. (Legacy)

Geographic

United States

United Kingdom

United States (North Carolina)

View More

Supply Chain of PVLA

Upstream

MedPharm

Ligand Pharmaceuticals Incorporated

Contract Research Organizations (CROs) - Unnamed

Rapamycin (Sirolimus) API Manufacturers - Unspecified

Excipient & Packaging Material Suppliers - Unspecified

Downstream

Ligand Pharmaceuticals Incorporated

PC Project (Patient Advocacy Organization)

Specialty Pharmacies (Unnamed - Planned)

Proxies

Ligand Pharmaceuticals Incorporated

Krystal Biotech, Inc.

Castle Biosciences, Inc.

Pieris Pharmaceuticals, Inc. (Legacy)

Geographic

United States

United Kingdom

United States (North Carolina)

View More