Pharvaris' Phase 3 Study of Deucrictibant for On-Demand HAE Attack Treatment Achieves Important Milestones
Positive Phase 3 Trial Results: Pharvaris' shares rose nearly 7% after the RAPIDe-3 trial showed that Deucrictibant significantly reduced symptom relief time for hereditary angioedema (HAE) patients, achieving all primary and secondary endpoints.
Efficacy and Safety Profile: Deucrictibant demonstrated rapid efficacy, with 83% of attacks treated with a single capsule and no serious adverse events reported, indicating a favorable safety profile.
Future Plans for Approval: Pharvaris intends to submit a New Drug Application to the U.S. FDA for Deucrictibant in the first half of 2026, aiming to provide an effective oral therapy for acute HAE attacks.
Ongoing Studies: The company is also conducting an open-label extension study and a Phase 3 study for prophylactic use, with topline data expected in late 2026, potentially making Deucrictibant the first oral therapy for both on-demand and preventive treatment of HAE.
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Pharvaris N.V. (PHVS) Price Target Raised by 20.90% to $45.73
Price Target Update: The average one-year price target for Pharvaris N.V. has been revised to $45.73 per share, reflecting a 20.90% increase from the previous estimate of $37.82, with a range from $30.30 to $80.85 per share.
Fund Sentiment: There has been a 29.21% increase in the number of funds reporting positions in Pharvaris, with total shares owned by institutions rising by 28.49% to 58,210K shares, and an average portfolio weight of 1.67%.
Shareholder Activity: General Atlantic increased its holdings in Pharvaris by 6.23% to 8,031K shares, while Foresite Capital Management Iv and venBio Partners also reported increases in their share ownership, with venBio Partners slightly decreasing its portfolio allocation.
Market Outlook: The put/call ratio for Pharvaris is at 0.93, indicating a bullish sentiment among investors, suggesting positive expectations for the stock's performance.
Stocks Rise on Hope for Fed Rate Cuts
Market Performance: The S&P 500, Dow Jones, and Nasdaq 100 all closed higher on Wednesday, with the S&P 500 and Nasdaq reaching three-week highs, supported by a weaker-than-expected ADP employment report that lowered bond yields and increased expectations for a Fed interest rate cut.
Sector Highlights: Chipmakers saw significant gains, with Microchip Technology rising over 12% after a strong earnings forecast, while other tech stocks also performed well. Conversely, concerns over AI demand affected Microsoft, which saw a decline in stock price.
Economic Indicators: The November ADP employment report indicated an unexpected job loss of 32,000, the largest drop in over 2.5 years, while the ISM services index showed unexpected growth, suggesting mixed signals in the labor market and economic activity.
Upcoming Economic Focus: Market attention is on upcoming economic reports, including unemployment claims and personal spending, with a high probability of a 25 basis point rate cut anticipated at the next FOMC meeting on December 9-10.
