Biopharmaceuticals - Rare Diseases / Specialty Care
Strategic Profile
Pharvaris is developing deucrictibant, a novel, potent, oral small-molecule bradykinin B2 receptor antagonist with two distinct formulations to address unmet needs in both on-demand (immediate-release capsule) and prophylactic (extended-release tablet) hereditary angioedema treatment. Expected pivotal readouts include CHAPTER-3 in H2 2026 and RAPIDe-3 in Q4 2025, with a validated kinin assay for biomarker measurement.
Cyborg Score Rationale
Phase 2 trials showed mean attacks reduced from 2.18 to 0.12 attacks/month (92.4% attack reduction) with median onset of symptom relief at 1.1 hours and 89.2% attack resolution at 24 hours. The company strengthened its financial position with €200 million in cash as of June 2025 and raised $201 million, extending runway into 1H 2027.
Top Insights
November 2025 ACAAI presentation demonstrated long-term safety with up to ~34 months of treatment, validated kinin biomarker assay, and rapid symptom relief (median 1.1 hours onset)
Positive Phase 2 data in both prophylaxis and on-demand studies support advancement to Phase 3 clinical development
$201 million capital raise in Q3 2025 extends cash runway into H1 2027, providing 18+ months of operational flexibility
Pivotal Phase 3 readouts (CHAPTER-3 prophylaxis in H2 2026, RAPIDe-3 on-demand in Q4 2025) represent key value inflection points for regulatory approval and commercialization
Named Competitors
Galidesivir — Competing investigational B2 antagonist programs for angioedema
KVD818 — Oral Factor XIIa inhibitor for hereditary angioedema
Firazyr (icatibant) — Established injectable bradykinin B2 antagonist standard of care
Recent Developments
(November 2025) ACAAI 2025 presentation: CHAPTER-1 extension showed 92.4% attack reduction over 34 months; RAPIDe-2 reported 1.1-hour median onset and 89.2% 24-hour resolution rates
(July 2025) Closed $201.2 million public offering managing cash runway into Q1-Q2 2027
(June 2025) Announced favorable data presentations at EAACI 2025 Congress