Pharvaris Presents supportive data for deucrictibant in HAE at AAAAI

Pharvaris presented multiple datasets for deucrictibant in HAE patients in both the on-demand and prophylactic settings at the AAAAI conference. While acknowledging the usual caveats of cross-trial comparison, we believe the data gives deucrictibant a slight edge over Ekterly in the on-demand setting, where a larger proportion of deucrictibant-treated patients achieved onset of symptom relief within 12 hours (90% vs. 76% with Ekterly). In the phase 2 OLE in the prophylactic setting, long term outcomes maintain deucrictibant's benefit and we're confident going into the phase 3 readout (expected in 3Q26), which could position the product as a high efficacy oral option for both HAE on-demand and prophylactic treatment. $ 36 TP and BUY maintained.