Pharvaris N.V. Confirms On-Track NDA Submission for HAE Treatment and Completes Enrollment in Pivotal Prophylactic Study
PHVS has more than doubled off its 52-week low of $11.51 on elevated volume (2.9× avg).
Summary
Pharvaris N.V. reported Q4 and full-year 2025 financial results, confirmed its NDA submission for on-demand HAE treatment is on track for 1H2026, and announced completion of enrollment in its pivotal CHAPTER-3 prophylactic HAE study.
Key Events · Product Development and Regulatory · PHVS
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NDA Submission On Track
The company confirmed its New Drug Application (NDA) for deucrictibant IR for on-demand HAE treatment remains on track for submission in the first half of 2026.
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Pivotal Study Enrollment Completed
Enrollment has been completed in CHAPTER-3, a pivotal Phase 3 study of deucrictibant XR for prophylactic HAE treatment, with topline data anticipated in Q3 2026.
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Strong Phase 3 Data Reaffirmed
The filing reiterated positive data from the RAPIDe-3 pivotal Phase 3 study, showing deucrictibant achieved onset of symptom relief in 1.28 hours and complete symptom resolution in 11.95 hours for on-demand HAE attacks.
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Financial Results for FY2025
Pharvaris reported cash and cash equivalents of €291.7 million as of December 31, 2025, and a net loss of €175.7 million for the full year 2025, reflecting increased R&D investments.
Analysis · PHVS · Life Sciences
Pharvaris N.V. announced its fourth quarter and full year 2025 financial results alongside significant progress in its clinical pipeline. The company remains on track to submit its New Drug Application (NDA) for deucrictibant IR for on-demand hereditary angioedema (HAE) treatment in the first half of 2026, a critical near-term catalyst. Additionally, enrollment has been completed in the CHAPTER-3 pivotal study for deucrictibant XR, targeting prophylactic HAE treatment, with topline data expected in Q3 2026. The filing also reiterated strong positive data from the RAPIDe-3 Phase 3 study, demonstrating rapid and complete symptom resolution for on-demand HAE treatment. While the company reported an increased net loss for 2025, this is typical for a late-stage biopharmaceutical company advancing multiple clinical programs, and its cash position remains solid at €291.7 million. This 6-K furnishes a press release that provides these updates, complementing the concurrent 20-F annual report.
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At the time of this filing, PHVS was trading at $27.37 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $11.51 to $29.85. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.