Pharvaris Announces Closing of $132.3 Million Underwritten Offering of Ordinary Shares and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Pharvaris (Nasdaq: PHVS) closed an underwritten public offering of 4,455,863 ordinary shares, including full exercise of the underwriters’ option for 581,199 additional shares.

Rhea-AI Summary

Pharvaris (Nasdaq: PHVS) closed an underwritten public offering of 4,455,863 ordinary shares, including full exercise of the underwriters’ option for 581,199 additional shares. Gross proceeds were approximately $132.3 million before fees and expenses. All shares were sold by Pharvaris under an effective SEC shelf registration.

Positive

• Underwritten equity offering raised approximately $132.3 million in gross proceeds
• Underwriters fully exercised their option for 581,199 additional shares
• All 4,455,863 shares sold by Pharvaris, adding primary capital

Negative

• New share issuance of 4,455,863 shares likely dilutes existing shareholders
• Net proceeds will be lower than $132.3 million after underwriting discounts and expenses

Argus May 12 session

+4.34% close to close Open Argus

Details

News Market Reaction – PHVS

In the May 12 session, PHVS gained 4.34%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details the closing of a $132.3 million underwritten equity offering, adding to Ph...

Analysis

This announcement details the closing of a $132.3 million underwritten equity offering, adding to Pharvaris’ cash of €247.0 million and management’s projected runway into 1H 2028. Historically, similar offerings averaged a -5.63% next-day move, underscoring market focus on dilution. Investors may track how efficiently these funds support late-stage deucrictibant programs and future regulatory or commercialization milestones.

Key Figures

Gross offering proceeds: $132.3 million Shares sold in offering: 4,455,863 shares Underwriter option shares: 581,199 shares +5 more

Gross offering proceeds

$132.3 million

May 2026 underwritten offering of ordinary shares

Shares sold in offering

4,455,863 shares

Total ordinary shares including full underwriter option exercise

Underwriter option shares

581,199 shares

Additional ordinary shares under 30-day option, fully exercised

Registered primary shares

3,874,664 shares

Shares offered at $29.68 per 424B5 prospectus supplement

Offering price

$29.68 per share

424B5 registered primary offering

Net proceeds

$108,100,026

Net to company before expenses per 424B5 filing

Cash balance

€247.0 million

Cash as of March 31, 2026 disclosed in 424B5

Runway guidance

Into 1H 2028

Management’s funding estimate assuming planned uses and full option exercise

Previous Offering Reports

3 past events · Latest: Jul 24

Same Type 3 events

1. Jul 24

   Offering closing

   24h Move

   +2.8%

   Closed upsized offering raising $201.2M via shares and pre-funded warrants.

2. Jul 22

   Offering pricing

   24h Move

   -9.9%

   Priced upsized $175M offering at $20 per share plus pre-funded warrants.

3. Jul 22

   Offering announcement

   24h Move

   -9.9%

   Proposed $150M share offering with $22.5M underwriter option for added shares.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten offering, shelf registration statement, prospectus supplement

3 terms

underwritten offering financial

"announced the closing of its previously announced underwritten offering of 4,455,863"

An underwritten offering is when a bank or group of banks agrees to buy all of a company's new shares or bonds and then resell them to outside investors, guaranteeing the company will raise a specific amount of money. It matters to investors because it adds certainty that the funding will close while increasing the number of shares or debt in the market, which can lower the price per share and change each existing owner's ownership percentage—think of a wholesaler buying an entire shipment from a maker before it reaches stores.

shelf registration statement regulatory

"offered by Pharvaris pursuant to an effective shelf registration statement previously filed"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

prospectus supplement regulatory

"The offering was made only by means of a prospectus and prospectus supplement that form"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ZUG, Switzerland, May 11, 2026 (GLOBE NEWSWIRE) -- Pharvaris N.V. (“Pharvaris,” Nasdaq: PHVS), a late-stage biopharmaceutical company developing novel, oral bradykinin B2 receptor antagonists to help address unmet needs of those living with bradykinin-mediated diseases such as hereditary angioedema (“HAE”) and acquired angioedema due to C1 inhibitor deficiency (“AAE-C1INH”), today announced the closing of its previously announced underwritten offering of 4,455,863 ordinary shares (which includes the exercise in full by the underwriters of their option to purchase up to an additional 581,199 ordinary shares). The gross proceeds to Pharvaris from the offering, before deducting underwriting discounts, commissions and other offering expenses, were approximately $132.3 million. All shares in the offering were sold by Pharvaris.

Morgan Stanley, Leerink Partners, Cantor, and Wells Fargo Securities acted as joint book-running managers for the offering.

The shares described above were offered by Pharvaris pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus and prospectus supplement that form part of the registration statement.

Copies of the final prospectus supplement relating to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone at 866-718-1649 or by email at prospectus@morganstanley.com, Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com, Cantor Fitzgerald & Co. by mail at Attention: Capital Markets, 110 East 59th Street, New York 10022 or by email at prospectus@cantor.com, or Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, Minnesota 55402, by telephone at (800) 645-3751 (option #5), or by email at WFScustomerservice@wellsfargo.com. You may also obtain a copy of this document free of charge by visiting the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Pharvaris N.V.
Pharvaris is a late-stage biopharmaceutical company developing novel, oral bradykinin B2 receptor antagonists to help address unmet needs in bradykinin-mediated conditions, including all types of bradykinin-mediated angioedema. Pharvaris’ aspiration is to offer therapies with injectable-like efficacy™, a well-tolerated profile, and the convenience of oral administration to prevent and treat bradykinin-mediated angioedema attacks. By delivering on this aspiration, Pharvaris aims to provide a new standard of care in bradykinin-mediated angioedema. Pharvaris is preparing marketing authorization applications for deucrictibant immediate-release capsule as an on-demand treatment of HAE attacks, and a global pivotal Phase 3 study of deucrictibant extended-release tablet for the prevention of HAE attacks (CHAPTER-3) is ongoing with topline data anticipated in the third quarter of 2026. In addition, CREAATE is an ongoing Phase 3 study of deucrictibant for the prophylactic and on-demand treatment of AAE-C1INH attacks.

Source: Pharvaris N.V.

Contact
Maggie Beller
Vice President, Head of Corporate and Investor Communications
maggie.beller@pharvaris.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Pharvaris (NASDAQ: PHVS) announce on May 11, 2026 about its stock offering?

Pharvaris announced the closing of an underwritten public offering of 4,455,863 ordinary shares, raising about $132.3 million in gross proceeds. According to Pharvaris, this total includes shares sold through the full exercise of the underwriters’ option to purchase additional shares.

How many new Pharvaris (PHVS) shares were issued in the May 2026 offering?

Pharvaris issued 4,455,863 ordinary shares in its May 2026 underwritten offering. According to Pharvaris, this figure includes 581,199 additional shares sold after the underwriters exercised their option in full, increasing the total share count issued in the transaction.

How much capital did Pharvaris (PHVS) raise in its $132.3 million underwritten offering?

Pharvaris raised approximately $132.3 million in gross proceeds from its underwritten offering of ordinary shares. According to Pharvaris, this amount is before deducting underwriting discounts, commissions, and other offering expenses, so net proceeds to the company will be lower than the headline figure.

Did underwriters exercise their option in the Pharvaris (PHVS) May 2026 share offering?

Yes, underwriters exercised their option in full to buy additional Pharvaris shares. According to Pharvaris, the option covered up to 581,199 ordinary shares, which were fully purchased and are included in the total 4,455,863 shares sold in the offering.

What does the Pharvaris (PHVS) share offering mean for existing shareholders?

The Pharvaris offering increases the number of outstanding shares, which can dilute existing shareholders’ ownership percentages. According to Pharvaris, all 4,455,863 shares were newly issued by the company, so the transaction primarily adds capital but spreads equity across more shares.

Under which SEC registration did Pharvaris (PHVS) conduct the May 2026 offering?

Pharvaris conducted the share offering under an effective shelf registration statement filed with the U.S. SEC. According to Pharvaris, the shares were offered only by means of a prospectus and prospectus supplement that form part of this shelf registration framework.

Who managed the Pharvaris (PHVS) $132.3 million underwritten share offering?

Morgan Stanley, Leerink Partners, Cantor, and Wells Fargo Securities acted as joint book-running managers for the Pharvaris offering. According to Pharvaris, these investment banks coordinated the underwritten sale of 4,455,863 ordinary shares to investors under the company’s effective SEC shelf registration.