Pharvaris Closes $132.3M Offering, Underwriters Fully Exercise Option
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Pharvaris N.V. announced the closing of its underwritten public offering, raising gross proceeds of approximately $132.3 million. This final amount includes the full exercise of the underwriters' option to purchase additional shares. This event follows the company's May 8th announcement regarding the pricing of the offering, which was initially stated at $115 million. The successful closing and full exercise of the option confirm a material capital infusion, providing significant funding for the late-stage biopharmaceutical company's ongoing development of novel oral bradykinin B2 receptor antagonists for hereditary angioedema (HAE) and acquired angioedema, while also resulting in dilution for existing shareholders. The capital is expected to support the advancement of its pipeline, with topline data for the pivotal Phase 3 CHAPTER-3 study anticipated in the third quarter of 2026.
At the time of this announcement, PHVS was trading at $30.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2B. The 52-week trading range was $14.59 to $31.65. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.