Pharvaris Announces Closing of $201.2 Million Upsized Public Offering of Ordinary Shares and Pre-Funded Warrants and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Pharvaris (NASDAQ:PHVS), a late-stage biopharmaceutical company, has successfully closed its upsized public offering, raising $201.2 million in gross proceeds. The offering included 9,562,500 ordinary shares (including the full exercise of underwriters' option for 1,312,500 additional shares) and pre-funded warrants to purchase 500,000 ordinary shares.

The offering was managed by a syndicate of investment banks including Morgan Stanley, Leerink Partners, Cantor, Oppenheimer & Co., and Van Lanschot Kempen as joint book-running managers. The securities were offered through an effective shelf registration statement previously filed with the SEC.

Positive

• Successfully raised $201.2 million in gross proceeds through public offering
• Full exercise of underwriters' option to purchase additional shares indicates strong demand
• Strengthened balance sheet to support development of bradykinin B2 receptor antagonists

Negative

• Potential dilution for existing shareholders due to new share issuance
• Additional expenses from underwriting discounts, commissions, and offering costs will reduce net proceeds

Insights

Biotech Investment Analyst

Pharvaris secures $201.2M through share offering, significantly strengthening its late-stage HAE drug development financial runway.

Pharvaris has successfully closed an upsized public offering that netted the company approximately $201.2 million in gross proceeds. This substantial capital raise included 9,562,500 ordinary shares (including the full exercise of the underwriters' option for an additional 1,312,500 shares) plus pre-funded warrants for 500,000 additional shares. The offering was managed by several prominent investment banks including Morgan Stanley, Leerink Partners, and Cantor.

This financing significantly strengthens Pharvaris' balance sheet as the company advances its late-stage pipeline of oral bradykinin B2 receptor antagonists for hereditary angioedema (HAE) and acquired angioedema due to C1 inhibitor deficiency (AAE-C1INH). The full exercise of the underwriters' option suggests strong institutional interest in Pharvaris' clinical programs and overall strategy.

The $201.2 million influx provides Pharvaris with a substantial runway to complete its ongoing clinical trials and potentially advance toward commercialization without immediate financing concerns. For a late-stage biopharmaceutical company, this level of funding typically translates to multiple years of operational capacity, reducing near-term dilution risk for existing shareholders while providing financial flexibility to pursue optimal clinical and regulatory strategies.

The successful completion of this offering at this scale demonstrates investor confidence in Pharvaris' development programs targeting bradykinin-mediated diseases, particularly in the potentially lucrative HAE market where oral therapies could offer significant advantages over existing injectable treatments.

ZUG, Switzerland, July 24, 2025 (GLOBE NEWSWIRE) -- Pharvaris N.V. (“Pharvaris,” Nasdaq: PHVS), a late-stage biopharmaceutical company developing novel, oral bradykinin B2 receptor antagonists to 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 upsized underwritten public offering of 9,562,500 ordinary shares (which includes the exercise in full by the underwriters of their option to purchase up to an additional 1,312,500 ordinary shares) and pre-funded warrants to purchase 500,000 ordinary shares. The gross proceeds to Pharvaris from the offering, before deducting underwriting discounts, commissions and other offering expenses, were approximately $201.2 million. All securities in the offering were sold by Pharvaris.

Morgan Stanley, Leerink Partners, Cantor, Oppenheimer & Co., and Van Lanschot Kempen acted as joint book-running managers for the offering.

The securities 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, 1585 Broadway, 29^th Floor, New York, New York 10036, Attention: Equity Syndicate Desk, with a copy to the Legal Department, 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, Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com, and Van Lanschot Kempen (USA) Inc., 880 Third Avenue, 17th floor, New York, New York 10022, or by email at equitycapitalmarkets@vanlanschotkempen.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 the solicitation of an offer to buy any of Pharvaris’ 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 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 potentially address all types of bradykinin-mediated angioedema. Pharvaris intends to provide injectable-like efficacy™ and placebo-like tolerability with the convenience of oral therapies to prevent and treat bradykinin-mediated angioedema attacks. With positive data in both Phase 2 prophylaxis and on-demand studies in HAE, Pharvaris is currently evaluating the efficacy and safety of deucrictibant in a pivotal Phase 3 study for the prevention of HAE attacks (CHAPTER-3) and a pivotal Phase 3 study for the on-demand treatment of HAE attacks (RAPIDe-3).

Contact
Maggie Beller
Executive Director, Head of Corporate and Investor Communications
maggie.beller@pharvaris.com
Source: Pharvaris N.V.

FAQ

How much did Pharvaris (PHVS) raise in their July 2025 public offering?

Pharvaris raised $201.2 million in gross proceeds through an upsized public offering of ordinary shares and pre-funded warrants.

How many shares were sold in the Pharvaris (PHVS) July 2025 offering?

Pharvaris sold 9,562,500 ordinary shares (including 1,312,500 from underwriters' option) and pre-funded warrants to purchase 500,000 ordinary shares.

Which investment banks managed the Pharvaris (PHVS) public offering?

Morgan Stanley, Leerink Partners, Cantor, Oppenheimer & Co., and Van Lanschot Kempen acted as joint book-running managers for the offering.

What will Pharvaris use the proceeds for?

While not explicitly stated in the press release, as a late-stage biopharmaceutical company, the proceeds are expected to support the development of their oral bradykinin B2 receptor antagonists for hereditary angioedema (HAE) and acquired angioedema.