Turnaround For Pharvaris Since FDA Clinical Hold - Data Shows Its Oral Hereditary Angioedema Treatment Cuts Attacks
Portfolio Pulse from Vandana Singh
Pharvaris NV (NASDAQ:PHVS) reported positive Phase 2 data for deucrictibant, an oral treatment for hereditary angioedema (HAE), showing an 84.5% reduction in monthly attack rate versus placebo. The FDA had previously placed a clinical hold on the drug in August 2022, which was lifted in June 2023 for on-demand treatment of HAE. The study met its primary endpoint and showed no serious adverse events. Pharvaris also completed an underwritten offering, raising approximately $300 million. PHVS shares rose 28.2% to $26.86.
December 06, 2023 | 5:46 pm
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Pharvaris NV's stock surged after reporting successful Phase 2 trial results for deucrictibant, an oral HAE treatment, and lifting of the FDA's clinical hold. The company also raised $300 million through an underwritten offering.
The positive trial results and the lifting of the FDA hold are significant milestones that typically lead to increased investor confidence and stock price appreciation. The successful capital raise of $300 million further supports the company's financial position and development efforts, contributing to the positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100