ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 07/10/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 10/07/2025

Benelux Morning Notes

Aalberts: Acquisition of Asian semiconductor player. ASML: Preview 2Q25; building backlog for 2026. BAM: 1H25 preview - YoY improvement from UK. Barco: Preview 1H25F; significant headwinds. Econocom: Acquires four specialist AV companies under ‘One Econocom' strategic plan. Flow Traders: Preview 2Q25. Staffing: Page Group 2Q25 trading update; soft 2Q25 especially in perm; outlook in line. WDP: €41m sale-and-lease back in France

Pharvaris FIRST LOOK: Accelerated timelines for on-demand HAE treatment

Pharvaris has accelerated its timeline for topline data from the RAPIDe-3 Phase 3 trial evaluating deucrictibant for on-demand treatment of hereditary angioedema (HAE), now expected in 4Q25 instead of 1Q26. The study aims to confirm earlier Phase 2 findings and measures time to symptom relief. Pending positive results, Pharvaris plans to submit its FDA application in the first half of 2026. Meanwhile, the company is also advancing its prophylactic HAE program and planning studies in acquired angioedema, reinforcing its position as a potential leader in high-efficacy oral treatments for angioed...

Aalberts Proposed acquisition of GVT for c. € 213m

The proposed acquisition of Grand Venture Technology will strengthen Aalberts position in APAC. Despite current challenges in key end markets (Automotive, Construction and Machine Building), Aalberts continues to execute on operational improvements, which lay the groundwork for a robust earnings leverage upon revenue recovery. We maintain our Accumulate rating on valuation grounds.

Morning Notes : AALB NA, IVEVF FP, WPHB BB

: AALB NA, IVEVF FP, WPHB BB