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PHVS

Pharvaris N.V.

PHVS

Pharvaris N.V. • NASDAQ
$28.38 ▲ 2.38% (+0.66)
Market Cap $1.84 B
52w High $28.48
52w Low $11.51
Dividend Yield 0%
P/E -8.45
Volume 163.78K
Outstanding Shares 64.96M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $39.664M ▼ $-37.137M ▲ 0% $-0.6 ▲ $-37.213M ▲
Q2-2025 $0 $40.373M ▲ $-45.481M ▲ 0% $-0.83 ▲ $-40.27M ▲
Q1-2025 $0 $-42.186M ▼ $-46.341M ▼ 0% $-0.85 ▼ $-42.081M ▼
Q4-2024 $0 $48.002M ▲ $-37.079M ▲ 0% $-0.64 ▲ $-35.639M ▲
Q3-2024 $0 $37.902M $-41.711M 0% $-0.77 $-37.859M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $329.286M ▲ $338.896M ▲ $26.656M ▲ $312.241M ▲
Q2-2025 $199.572M ▼ $209.81M ▼ $25.474M ▲ $184.336M ▼
Q1-2025 $236.496M ▼ $248.064M ▼ $22.725M ▼ $225.339M ▼
Q4-2024 $280.728M ▼ $291.375M ▼ $23.614M ▲ $267.761M ▼
Q3-2024 $305.193M $313.175M $16.388M $296.787M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-37.319M ▲ $-30.669M ▼ $-18.714K ▼ $160.434M ▲ $129.714M ▲ $-30.688M ▼
Q2-2025 $-45.278M ▲ $-29.98M ▲ $16.636K ▲ $-22.9K ▲ $-36.924M ▲ $-29.964M ▲
Q1-2025 $-46.038M ▼ $-38.472M ▼ $-161.003K ▼ $-75.447K ▼ $-44.232M ▼ $-38.633M ▼
Q4-2024 $-33.522M ▲ $-34.954M ▼ $-160.917K ▲ $566.162K ▼ $-24.465M ▲ $-35.115M ▼
Q3-2024 $-41.481M $-33.262M $-306.325K $991.927K $-38.381M $-33.568M

Five-Year Company Overview

Income Statement

Income Statement Pharvaris is still a pure R&D-stage biotech: it has no product revenue yet, so all activity flows through costs rather than sales. Losses have been steady to gradually increasing over the last several years, which is typical as clinical programs move into larger and more expensive trials. Most of the spending is likely research, development, and supporting infrastructure, not overhead bloat. The pattern tells a clear story: the company is investing ahead of any commercial payoff, and profitability will depend entirely on eventual drug approvals and market uptake, which are still uncertain.

Balance Sheet

Balance Sheet The balance sheet is straightforward and relatively clean. Assets are dominated by cash, with very little in the way of physical assets or inventory, which fits a clinical-stage biotech profile. The company carries no financial debt, so it is not pressured by interest payments or near-term repayments. Equity largely reflects the cash raised from shareholders, which is funding ongoing trials. Overall, Pharvaris looks well-capitalized for now, but future progress will likely depend on either new capital raises or eventually generating revenue, given continued cash use.

Cash Flow

Cash Flow Cash flow is consistently negative, driven almost entirely by operating activities like clinical trials, staff, and supporting functions. There is essentially no meaningful spending on property or equipment, so free cash flow closely mirrors the operating cash burn. The burn rate has been rising as programs advance, which is expected but still important: at some point, the company will either need additional funding or will rely on product approvals to change the cash profile. For now, the company appears to have enough cash to keep executing its plan, but it is not self-funding in any way.

Competitive Edge

Competitive Edge Pharvaris is focused on a narrow but meaningful niche: hereditary angioedema and related bradykinin-driven conditions. Its main candidate, deucrictibant, aims to offer oral treatment options in a space where many therapies still require injections. That convenience, combined with the ambition to provide strong efficacy and good tolerability, could be a powerful differentiator if late-stage data are strong. However, competition is real and growing: there are established injectable leaders and at least one approved oral prophylactic, plus other oral candidates in development. Pharvaris’s edge will depend on how convincingly it can show better or comparable efficacy, safety, and patient experience versus those alternatives, and on how quickly it can move through late-stage trials and regulatory review.

Innovation and R&D

Innovation and R&D The company’s strategy is highly concentrated around one core molecule, deucrictibant, in two oral forms—one for treating attacks and one for preventing them. This “one drug, two uses” approach is capital-efficient and, if successful, could create a coherent treatment ecosystem for patients and physicians. Pharvaris is leaning heavily on deep science around the bradykinin B2 receptor and has already produced solid mid-stage clinical data, with large late-stage trials underway. Management appears experienced in this exact disease area, which helps execution. The main innovation risk is also its main strength: the pipeline is not very diversified. Success in HAE (and potentially other bradykinin-mediated angioedemas) could be transformative, but setbacks in the lead program would materially impact the entire R&D story.

Summary

Pharvaris is a classic late-stage biotech: no commercial revenue yet, steady and rising R&D-driven losses, and a balance sheet dominated by cash with no debt. The financials show a company in investment mode, not one nearing profitability. Its value proposition rests on a single, differentiated asset aimed at turning an injection-heavy rare disease market into one where oral options may become standard. The upside case depends on strong Phase 3 data, smooth regulatory paths, and successful commercialization in a competitive landscape. The downside risks center on clinical trial outcomes, regulatory scrutiny, the need for future funding, and reliance on a relatively concentrated pipeline. Overall, this is a focused, higher-risk, higher-uncertainty profile typical of late-stage biotech, with the key inflection points still ahead rather than behind.

NEWS

November 12, 2025 · 6:50 AM UTC

Pharvaris Reports Third Quarter 2025 Financial Results and Provides Business Update

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November 10, 2025 · 6:50 AM UTC

Data Supporting the Potentially Differentiated Pharvaris Portfolio Presented at ACAAI 2025 Annual Scientific Meeting

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October 23, 2025 · 6:50 AM UTC

Pharvaris to Present Clinical Data at the ACAAI 2025 Annual Scientific Meeting

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