Pharvaris (PHVS) Is Up 9.1% After Deucrictibant Shows 92% HAE Attack Reduction and Phase 3 Update

• Pharvaris recently announced third-quarter 2025 earnings, reporting a net loss of €37.14 million and outlined clinical progress for its hereditary angioedema (HAE) candidate deucrictibant, including long-term safety data and an anticipated pivotal Phase 3 study readout in 2026.
• The new data presented showed an average 92.4% reduction in HAE attacks over 34 months and highlighted a plasma kinin biomarker assay that may help further characterize bradykinin-mediated angioedema.
• We’ll explore how the promising efficacy data for deucrictibant could strengthen Pharvaris’s investment narrative in the HAE treatment landscape.

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What Is Pharvaris' Investment Narrative?

For anyone considering Pharvaris as part of their portfolio, the big picture rests on a straightforward but high-stakes thesis: success in developing deucrictibant for hereditary angioedema (HAE). The recent third-quarter update and new clinical data inject a boost of confidence, showcasing a substantial reduction in HAE attack frequency and reinforcing anticipation for the Phase 3 study readout. While Pharvaris remains pre-revenue, the potential for regulatory progress has been a key short-term catalyst, and the positive safety and efficacy signals may help mitigate near-term uncertainty about pipeline viability. However, the company continues to post heavy net losses and has needed ongoing shareholder dilution to fund its ambitions, risks that haven’t disappeared, despite the strong clinical news. The immediate impact of the recent announcement appears material for sentiment, but financial fundamentals and the timeline to commercialization will keep risk elevated for now. But there’s an important risk here that many overlook: ongoing dilution matters more than you might expect.

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Exploring Other Perspectives

The Simply Wall St Community fair value estimate is €37.45, with all contributors landing on a single figure. While opinions may converge on the upside, the clinical progress highlighted recently means your view on Pharvaris’s future still hinges on how comfortable you are with continued losses and share dilution. Consider how others weigh these risks before making up your mind.

Explore another fair value estimate on Pharvaris - why the stock might be worth just $37.45!

Build Your Own Pharvaris Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Pharvaris research is our analysis highlighting 3 important warning signs that could impact your investment decision.
• Our free Pharvaris research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Pharvaris' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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