reports
- Hilde Van Boxstael
- Jacob Mekhael
- Thomas Couvreur
- Wim Hoste
- Jacob Mekhael
Pharvaris FY25 results confirm timelines, phase 3 prophylaxis data in ...
Pharvaris reported FY25 results with a cash position of € 292m (YE24: € 281m) and reiterated its pipeline timelines. We most look forward to topline data from the phase 3 (CHAPTER-3) trial of deucrictibant in HAE prophylaxis in 3Q26, and we're confident going into this readout given the de-risked MOA and strong phase 2 dataset. We expect an attack reduction rate in line with injectable therapies, thereby positioning deucrictibant as the only candidate to offer both oral convenience and high effi...
- Wim Hoste
Tessenderlo Moving towards more diversification
We have lowered our adjusted EBITDA forecasts for 2026-2028 by 5-8% following weaker than expected FY25 results & FY26 guidance. We continue to appreciate Tessenderlo for its healthy FCF generation which we estimate at slightly over € 100m per annum on average in the coming three years. Tessenderlo wants to develop a new Investment business unit, which can either invest minority stakes in strategic companies that are adjacent to its current businesses or invest more opportunistically in liquid p...
Pharvaris Reports Fourth Quarter and Full Year 2025 Financial Results ...
Pharvaris Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update Enrollment completed in CHAPTER-3, a pivotal study of deucrictibant XR for prophylactic treatment of HAE attacks; topline data anticipated in 3Q2026Timeline for submission of NDA dossier of deucrictibant IR for on-demand treatment of HAE attacks remains on-track in 1H2026Enrollment ongoing in CREAATE, a pivotal study of deucrictibant for the prophylactic and on-demand treatment of AAE-C1INH attacksCash and cash equivalents of €292 million as of December 31, 2025 ZUG, Switzerland, April 02, 2...
- Wim Hoste
Tessenderlo Feedback FY25 results conference call
Below are the highlights of the FY25 results conference call. Tessenderlo's FY25 adjusted EBITDA increased by 8.5% to 288.1m, which was 3% below our forecast and 6% below consensus. FY26 guidance calls for adjusted EBITDA in line with 2025 which is also below our and consensus forecasts. Despite the difficult macro economic environment, we remind that the company is generating sizeable FCF which was until recently used to regularly buy back own shares. We consider valuation to be attractive enou...
- ING Helpdesk
Benelux Morning Notes
Ageas: FY25 results of CTIH. ASR: Management & Supervisory Board changes. MICC: Preview 1Q26. Ontex: 1Q26 preview - markets remain challenging. Randstad: Preliminary preview 1Q26F results due 22 April. Tessenderlo: 2H25 miss, soft 2026F guidance. Unicredit: Injecting capital into its Belgian Bank
- Wim Hoste
Tessenderlo FIRST LOOK: FY25 EBITDA and FY26 guidance slight miss
Tessenderlo's FY25 adjusted EBITDA increased by 8.5% to 288.1m, which was 3% below our forecast and 6% below consensus. FY26 guidance calls for adjusted EBITDA in line with 2025 which is also below our and consensus forecasts. Despite the difficult macro economic environment, we remind that the company is using its solid balance sheet and FCF to regularly buy back own shares. We consider valuation to be attractive enough from maintaining our Accumulate rating with target price maintained at € 28...
- Hilde Van Boxstael
- Jacob Mekhael
- Livio Luyten
- Mathijs Geerts Danau
- Thomas Couvreur
- Wim Hoste
- Guy Sips
- Jacob Mekhael
- Livio Luyten
- Wim Hoste
Evidence of Efficacy and Safety of Deucrictibant for Prophylaxis and O...
Evidence of Efficacy and Safety of Deucrictibant for Prophylaxis and On-Demand Treatment of Hereditary Angioedema Attacks Published Back-to-Back in The Lancet Haematology Results from Phase 2 clinical studies, CHAPTER-1 and RAPIDe-1, provide evidence of viability of bradykinin B2 receptor antagonism in management of HAE ZUG, Switzerland, March 20, 2026 (GLOBE NEWSWIRE) -- (Nasdaq: PHVS), a late-stage biopharmaceutical company developing novel, oral bradykinin B2 receptor antagonists to help address unmet needs of those living with bradykinin-mediated diseases such as hereditary angioede...
- Guy Sips
- Mathijs Geerts Danau
Validation of Patient-Reported Outcomes in the On-Demand Treatment of ...
Validation of Patient-Reported Outcomes in the On-Demand Treatment of Hereditary Angioedema Attacks Published in Clinical Reviews in Allergy & Immunology Data include a concurrent assessment of results collected from PGI and AMRA instruments, insights into clinically meaningful changes in HAE attack symptoms, and support for hierarchical ranking of RAPIDe-3 endpoints ZUG, Switzerland, March 11, 2026 (GLOBE NEWSWIRE) -- (Nasdaq: PHVS), a late-stage biopharmaceutical company developing novel, oral bradykinin B2 receptor antagonists to help address unmet needs of those living with bradykin...
- Jacob Mekhael
- Livio Luyten
- Lynn Hautekeete
- Wim Hoste
- Jacob Mekhael
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 ou...
Deucrictibant Data Supporting Potentially Differentiated Profile for t...
Deucrictibant Data Supporting Potentially Differentiated Profile for the On-Demand and Prophylactic Treatment of Bradykinin-Mediated Angioedema Presented at AAAAI 2026 RAPIDe-3 met the primary and all 11 secondary efficacy endpoints with high statistical significance with deucrictibant achieving onset of symptom relief in 1.28 hours and complete symptom resolution in 11.95 hours, and confirming its potentially differentiated profile for the treatment of HAE attacksFinal CHAPTER-1 data provide further evidence on long-term safety and efficacy of deucrictibant for the prevention of HAE attack...
- Guy Sips
- Mathijs Geerts Danau
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Mathijs Geerts Danau
Pharvaris To present clinical data at the AAAAI 2026
Pharvaris will present multiple datasets at AAAAI 2026, including topline RAPIDe-3 results, final CHAPTER-1 data, supporting evidence for the extended-release formulation, AMRA endpoint validation, and results from a new kinin biomarker assay. We look forward to the prophylactic phase 3 (CHAPTER-3) readout in 3Q26 and reiterate our Buy and $ 36 TP.
Pharvaris to Present Clinical Data at the AAAAI 2026 Annual Meeting
Pharvaris to Present Clinical Data at the AAAAI 2026 Annual Meeting Pivotal Phase 3 data from RAPIDe-3 of deucrictibant for the on-demand treatment of HAE attacks to be presented for the first time ZUG, Switzerland, Feb. 10, 2026 (GLOBE NEWSWIRE) -- (Nasdaq: PHVS), a late-stage biopharmaceutical company developing novel, oral bradykinin B2 receptor antagonists to help address unmet needs of those living with bradykinin-mediated diseases such as hereditary angioedema (HAE) and acquired angioedema due to C1 inhibitor deficiency (AAE-C1INH), announced the acceptance of six abstracts for p...
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