Pharvaris (PHVS) 43rd Annual J.P. Morgan Healthcare Conference 2025 summary

Key program updates and clinical results

• Lead asset deucrictibant targets bradykinin B2 receptor for hereditary angioedema (HAE) with both immediate and extended-release oral formulations.

• Phase II trials showed 84.5% reduction in monthly attack rate and over 92% reduction in moderate/severe attacks for prophylaxis; well tolerated at both doses.

• On-demand phase II data showed rapid symptom relief (2.4 hours), 5-fold reduction in rescue medication, and 98.5% of attacks resolved within 12 hours.

• Two pivotal phase III trials (CHAPTER-3 for prophylaxis, RAPIDe-3 for on-demand) are ongoing, with top-line data for CHAPTER-3 expected in H2 2026.

• Pipeline expanded to acquired angioedema, with early data showing attack-free outcomes in most patients over 18 months.

Market landscape and growth drivers

• HAE market projected to reach $5.2 billion globally by 2036, with prophylaxis expected to drive most growth.

• Market is dynamic, with frequent switching as patients seek better efficacy, tolerability, and convenience; no lasting first-mover advantage.

• 86% of prophylactic patients desire easier administration, and 61% want more discreet treatment options.

• New therapies (garadacimab, donidalorsen) and gene therapies are entering, but conventional therapies remain dominant; new entrants may reinforce shift to prophylaxis.

Product differentiation and patient needs

• Deucrictibant is the only oral therapy in development for both prophylaxis and on-demand, offering once-daily and rapid single-dose options.

• Extended-release formulation achieves steady state in 2–3 days, providing immediate protection; rapid absorption halts attacks within 30 minutes.

• PK studies show extended-release has lower Cmax and higher trough, supporting efficacy and safety.