Pharvaris jumps as skin disease drug meets mid-stage study goal

Pharvaris NV

06/12/2023 12:39

** Shares of Switzerland-based drug developer Pharvaris
 PHVS.O  up about 45.6% at $30.5 premarket 
    ** Co says its experimental drug, Deucrictibant, met primary
mid-stage study goal to treat and prevent hereditary angioedema
(HAE) attacks 
    ** HAE is a disease characterized by recurrent episodes of
severe swelling of the skin and mucous membranes
    ** 40 mg/day orally administered, Deucrictibant
significantly reduced mean monthly attack rate by 84.5% compared
to placebo, co adds
    ** Drug candidate showed clinically meaningful results as an
oral preventative treatment and demonstrated 92.3% reduction in
occurrence of moderate and severe attacks 
    ** Co plans to present study data at future medical meetings
and submit results to the FDA by year-end 
    ** Separately, co also announces pricing of $300 mln
underwritten offering of ordinary shares and pre-funded warrants
    ** As of last close, stock up 86.2% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))