Shares of Pharvaris N.V. (PHVS) surged by 40% in premarket trading on Wednesday following the announcement that the company’s investigational drug has achieved its primary goal in a clinical trial for the treatment and prevention of hereditary angioedema attacks.
Significant Reduction in Monthly Attack Rate
Hereditary angioedema attacks can lead to rapid and severe swelling in various areas of the body, including the face, windpipe, hands, and feet. Pharvaris revealed that their treatment, deucrictibant, has demonstrated a significant reduction in the average monthly attack rate when compared to a placebo. Additionally, it has successfully decreased the occurrence of moderate and severe attacks by an impressive 92%.
Positive Outlook for Deucrictibant
According to analysts at Leerink Partners, the results of this clinical trial have surpassed expectations. They suggest that these findings position deucrictibant more favorably when compared to BioCryst Pharmaceuticals Inc.’s (BCRX) hereditary angioedema treatment, Orladeyo, which has been performing well in the market.
Pharvaris shares have experienced a remarkable 86% increase year-to-date, highlighting the positive anticipation surrounding their drug development. In contrast, BioCryst shares fell by 4.6% in premarket trading on Wednesday and have faced a decline of 46.6% throughout this year.
These promising results further consolidate Pharvaris N.V.’s position as an innovative leader in the field of hereditary angioedema treatment.