Switzerland's Pharvaris Q3 loss widens as costs rise

Overview

• Switzerland biopharma firm reported Q3 loss widened

• Company ended Q3 with cash and equivalents of €283 mln

• Regulatory review of lead drug deucrictibant ongoing; pivotal trial data expected in 2027

Outlook

• Deucrictibant IR NDA under FDA review with PDUFA date of April 23, 2027

• Topline data from part 1 of CREAATE Phase 3 study expected in 1Q2027

• Company expects to submit NDA for deucrictibant XR prophylaxis in 1H2027

Result Drivers

• PIPELINE ADVANCEMENT - Increased R&D expenses driven by ongoing late-stage clinical trials for deucrictibant in multiple indications

• COMMERCIAL PREPARATION - Higher G&A expenses attributed to preparations for potential first commercial launch and building a commercial team

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 15 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Pharvaris N.V. is $62.00, about 81.4% above its November 11 closing price of $34.18

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)