Key Highlights

  • PHVS shares are trading up 8.62% to $38.29, touching a new 52-week high of $43.25 intraday before paring gains.
  • The company announced statistically significant, clinically meaningful topline results from the pivotal Phase 3 CHAPTER-3 study of once-daily deucrictibant XR.
  • The trial met its primary endpoint with an 83% reduction in mean monthly attack rate versus placebo, and an 87% reduction in the HAE Type 1/2 subgroup.
  • All secondary endpoints achieved statistical significance with a favorable, well-tolerated safety profile.
  • Wedbush raised its price target to $50 from $42 while reiterating an Outperform rating.

Shares Surge on a Transformative Late-Stage Readout

Pharvaris (NASDAQ:PHVS) shares are trading sharply higher after the company announced statistically significant, clinically meaningful topline results from the pivotal Phase 3 CHAPTER-3 study of once-daily deucrictibant XR for the prevention of hereditary angioedema attacks. The trial met its primary endpoint with an 83% reduction in mean monthly attack rate versus placebo, with a p-value below 0.0001, and an 87% reduction in the HAE Type 1/2 subgroup.

Pharvaris is a late-stage biopharmaceutical company focused on developing and commercializing therapies for rare, bradykinin-mediated diseases, with deucrictibant, an oral small-molecule bradykinin B2-receptor antagonist, as its lead candidate.

All Secondary Endpoints Also Achieved Significance

All secondary endpoints in the trial achieved statistical significance, with a favorable, well-tolerated safety profile reported across the study population. That comprehensive endpoint performance is helping drive today's rally, as investors focus on the clear regulatory path this data supports.

Clear Regulatory Path Now in Focus

The company plans to submit a U.S. NDA for prophylaxis in the first half of 2027, alongside its existing on-demand deucrictibant NDA, which carries a PDUFA date of April 23, 2027. Deucrictibant is being developed in both an immediate-release capsule for on-demand treatment of HAE attacks and this extended-release tablet for prophylactic use.

Analysts Raise Targets as Shares More Than Double Off Lows

Wedbush raised its price target to $50 from $42 while reiterating an Outperform rating, reinforcing bullish sentiment following the data. Shares touched a new 52-week high of $43.25 intraday before paring gains, with the stock still up roughly 9.5% as investors digest a readout that has more than doubled shares off their 52-week low.