(RTTNews) - Wedbush Analyst Laura Chico on Tuesday reiterated an Outperform rating and a 12-month price target of $42 for Pharvaris N.V. (PHVS) after the company's pivotal Phase 3 CHAPTER-3 study of deucrictibant XR met its primary endpoint and all secondary efficacy endpoints for the prevention of hereditary angioedema (HAE).

Pharvaris N.V. is a late-stage biopharmaceutical company developing oral bradykinin B2 receptor antagonists for bradykinin-mediated conditions, including HAE. Deucrictibant is a novel, potent, orally bioavailable small-molecule bradykinin B2 receptor antagonist and is being investigated to prevent or treat angioedema attacks. Pharvaris is developing deucrictibant in two oral formulations: an extended-release tablet for preventive treatment and an immediate-release capsule for on-demand use.

Phase 3 CHAPTER-3 study Trial Details

CHAPTER-3 is a phase 3, double-blind, placebo-controlled study that evaluated orally administered deucrictibant XR tablet (40 mg, once daily) for the prevention of attacks in adolescents and adults with HAE. The study randomised 85 participants from 21 countries in a 2:1 ratio to deucrictibant XR (N=55) or placebo (N=30) for 24 weeks.

Key Trial Findings

The study met its primary endpoint, with deucrictibant XR reducing the mean monthly HAE attack rate by 83% versus placebo (p0.0001).

In addition, among participants with HAE Type 1 or Type 2, the attack rate was reduced by 87%.

All secondary efficacy endpoints were also met with statistical significance, with protection beginning within the first week and sustained through 24 weeks.

The company also reported reductions in attack rate from baseline and increases in the percentage of attack-free participants in the deucrictibant-treated group.

Deucrictibant XR also demonstrated a well-tolerated safety profile.

Commenting on the results, the analyst said the data were positive and largely in line with expectations, building on the 79%-85% attack-rate reductions versus placebo reported in the earlier CHAPTER-1 study.

Near-Term Milestones

The CHAPTER-4 open-label long-term extension study of deucrictibant XR for the prophylaxis of HAE attacks is ongoing.

Enrollment in the pivotal Phase 3 CREAATE trial is ongoing as planned, with topline Part 1 data for orally administered deucrictibant XR in preventing AAE-C1INH attacks expected in the first Quarter of 2027.

Pharvaris plans to submit a New Drug Application to the U.S. Food and Drug Administration for the prophylaxis of bradykinin-mediated angioedema attacks in the first half of 2027.

Financial Position

For the second quarter ended June 30, 2026, net loss was 47.8 million Euros, or 0.70 Euros per share, compared to 45.5 million Euros, or 0.83 Euros per share.

As of June 30, cash and cash equivalents were 318 million Euros.

Stock Performance

PHVS has traded between $20.65 and $43.25 over the past 52 weeks. PHVS closed Tuesday's trade at $37.84, up 7.35%.

PHVS is currently down 2.88% at $36.75 in the overnight market.

For more such biotechstock news visit www.rttnews.com.