Pharvaris soars as drug meets goals in mid-stage study

Pharvaris NV

08/12/2022 17:12

(Updates)
    ** Shares of Switzerland-based Pharvaris  PHVS.O  soar ~90%
at $4.8 - biggest pct gainer across U.S. stock exchanges
    ** Co's experimental drug to prevent and treat a genetic
swelling disease called hereditary angioedema (HAE), meets goals
in mid-stage study
    ** Data shows that the drug significantly reduces HAE attack
symptoms - Co
    ** Drug meets all secondary goals including reducing time to
complete relief - PHVS
    ** Co says drug was well-tolerated with no treatment-related
serious adverse events 
    ** Separately, co reports Q3 loss of 8.5 mln euros ($8.94
mln), or 0.25 per share, compared with 9.1 mln euros, or 0.28
per share a year earlier 
    ** Co also reports cash and cash equivalents of 198 mln
euros, as of Sept 30
    ** Including session's gain, stock down ~66% YTD
    ($1 = 0.9506 euros)
 (Reporting by Aditya Samal and Pratik Jain)
 ((Aditya.Samal@thomsonreuters.com;))