Pharvaris (PHVS)

Executive Summary

Pharvaris is a late-stage biopharmaceutical company pioneering oral bradykinin B2 receptor antagonists for hereditary angioedema (HAE) and acquired angioedema due to C1-inhibitor deficiency (AAE-C1-INH). Its lead candidate, deucrictibant, aims to offer injectable-like efficacy with oral convenience, addressing a significant unmet need. The company has completed a Phase 3 trial in HAE (NCT06343779) with data expected to inform regulatory filings. Additionally, it is developing icatibant (an injectable bradykinin antagonist) for intradialytic hypotension, targeting a separate large indication. Key upcoming catalysts include data from the ongoing Phase 3 trial of deucrictibant for HAE (NCT06669754) expected in mid-2026, and the Phase 3 icatibant trial in intradialytic hypotension (NCT05834777) reading out in Q2 2026. A Phase 3 study for deucrictibant in AAE-C1-INH (NCT07266805) is also recruiting. The company's strong pipeline and focus on validated mechanisms position it for potential value inflection if pivotal data are positive.

Upcoming Catalysts (preview)

• Q2 2026Phase 3 data for icatibant in intradialytic hypotension (NCT05834777)60% success
• Q3 2026Phase 3 data for deucrictibant in HAE (NCT06669754) from active trial75% success
• H2 2026Phase 3 trial initiation or interim update for deucrictibant in AAE-C1-INH (NCT07266805)70% success