KBC Securities - Pharvaris NV (PHVS) Pharvaris Business update narrows topline prophylactic phase 3 data to 3Q26

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KBC Securities

Mathijs Geerts Danau

Pharvaris Business update narrows topline prophylactic phase 3 data to 3Q26

Pharvaris provided a business update, which comes with narrowed guidance for the topline data from the phase 3 (CHAPTER-3) trial of deucrictibant in HAE prophylaxis, now expected in 3Q26 (previously 2H26). We're confident going into this readout, which we believe has a high probability of success based on the strong efficacy shown in phase 2. With the NDA filing in the on-demand setting on track for 1H26, and another phase 3 ongoing in AAE-C1INH, the product is set to address the broadest group of HAE patients offering both strong efficacy and convenience. Pharvaris' cash runway into 1H27 means the company is funded beyond its key catalyst of CHAPTER-3 data readout in 3Q26. $ 36 TP and BUY maintained.

13/01/2026 1 EN

Underlying

Pharvaris NV

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NL00150005Y4 NASDAQ Stock Market Netherlands

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Mathijs Geerts Danau

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Pharvaris Business update narrows topline prophylactic phase 3 data to 3Q26

We are a financial services provider for several types of professional clients, each with distinct needs.

Validation of Patient-Reported Outcomes in the On-Demand Treatment of Hereditary Angioedema Attacks Published in Clinical Reviews in Allergy & Immunology

Morning Notes : ACKB BB, ATEB BB, CPINV BB, SYENS BB, PHVS US

Pharvaris Presents supportive data for deucrictibant in HAE at AAAAI

Morning Notes : AALB NA, OPTI BB, DSFIR NA, MELE BB, SHUR BB

Wereldhave Initiation note: Daily Life, Lifetime Returns

Shurgard Defending the moat weighs on short term profits

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