Pharvaris Secures $201.2 Million in Upsized Public Offering
Pharvaris Completes Successful Public Offering
Pharvaris N.V. (NASDAQ: PHVS), a leading biopharmaceutical company, recently announced the successful completion of its upsized public offering of ordinary shares and pre-funded warrants. This strategic move has generated approximately $201.2 million in gross proceeds, which are pivotal for its ongoing research and development efforts in addressing bradykinin-mediated diseases.
Details of the Offering
The offering comprised 9,562,500 ordinary shares, including the full exercise of the underwriters' option to purchase 1,312,500 additional shares, alongside pre-funded warrants aimed at purchasing 500,000 ordinary shares. These efforts reflect the company’s dedication to tackling the challenges associated with hereditary angioedema (HAE) and acquired angioedema.
Joint Book-Running Managers
Prominent financial institutions, including Morgan Stanley, Leerink Partners, Cantor, Oppenheimer & Co., and Van Lanschot Kempen, acted as joint book-running managers for this significant offering. Their support underscores the confidence placed in Pharvaris's innovative solutions in the biotech sector.
Uses for the Proceeds
The funds raised through this public offering will be instrumental in advancing Pharvaris's clinical trials and research, aiming to offer effective therapies for bradykinin-mediated diseases. The company is concentrated on delivering a combination of efficacy typically found in injectable treatments while ensuring the tolerability of oral therapies.
Clinical Development Focus
Currently, Pharvaris is conducting pivotal Phase 3 studies to assess the efficacy and safety of deucrictibant, its lead compound, for preventing and treating HAE attacks. Positive data from earlier Phase 2 trials have propelled the company into this crucial stage where it seeks to meet the pressing need for improved treatment options for patients.
About Pharvaris N.V.
Pharvaris N.V. stands out as a late-stage biopharmaceutical firm specializing in novel oral bradykinin B2 receptor antagonists. The company is committed to creating breakthrough therapies targeting all types of bradykinin-mediated angioedema, focused on alleviating the burdens of patients struggling with these conditions.
Company's Future Direction
With the recent funding and ongoing clinical trials, Pharvaris aims to provide revolutionary treatment solutions that could significantly enhance the quality of life for those affected by angioedema. The feedback from clinical studies will direct the company's future strategies and potential regulatory filings.
Contact Information
For more information about Pharvaris, please reach out to Maggie Beller, Executive Director, Head of Corporate and Investor Communications, at maggie.beller@pharvaris.com.
Frequently Asked Questions
What was the total amount raised in the Pharvaris public offering?
The total gross proceeds from the Pharvaris public offering amounted to approximately $201.2 million.
Who acted as joint book-running managers for the offering?
Joint book-running managers included Morgan Stanley, Leerink Partners, Cantor, Oppenheimer & Co., and Van Lanschot Kempen.
What conditions are the therapies from Pharvaris targeting?
Pharvaris is developing therapies to address bradykinin-mediated diseases, specifically hereditary angioedema (HAE) and acquired angioedema.
What is deucrictibant?
Deucrictibant is Pharvaris's lead compound currently being evaluated in Phase 3 clinical trials for preventing and treating attacks of HAE.
How does Pharvaris aim to improve treatment for patients?
Pharvaris seeks to provide the effectiveness of injectable therapies with the tolerability of oral medications, making it easier for patients to manage their conditions.
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