Pharvaris drops as FDA places clinical hold on swelling disorder drug trials

Pharvaris NV

22/08/2022 15:21

** Shares of Switzerland-based Pharvaris  PHVS.O  fall 25.6%
to $13.76 - hitting lowest since November
    ** PHVS says the U.S. FDA verbally informed the company that
it is placing a clinical hold on studies of its drug candidate,
PHA121, in the U.S. for the treatment of a swelling
disorder urn:newsml:reuters.com:*:nGNX5vS17C
    ** FDA's decision was based on its review of nonclinical
data - PHVS
    **  The agency indicated it would provide a formal clinical
hold letter in about 30 days; co to provide more updates
following interactions with the FDA - PHVS
    ** PHA121 is currently in early-stage development for the
treatment of hereditary angioedema, a disorder characterized by
recurrent attacks of severe swelling of the skin and mucous
membranes
    ** Stock had risen 28.5% YTD, up to the last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))