Pharvaris Raises $132.3 Million in Upsized 4.5 Million-Share Offering
Pharvaris closed an underwritten offering of 4,455,863 ordinary shares, including the full exercise of a 581,199-share option, raising gross proceeds of $132.3 million. Joint book-running managers were Morgan Stanley, Leerink Partners, Cantor Fitzgerald and Wells Fargo Securities.
1. Offering Details
Pharvaris closed an underwritten offering of 4,455,863 ordinary shares, including the full exercise of a 581,199-share option by the underwriters, generating gross proceeds of approximately $132.3 million. All shares were sold by the company under its effective shelf registration statement.
2. Underwriters and Registration
Morgan Stanley, Leerink Partners, Cantor Fitzgerald and Wells Fargo Securities served as joint book-running managers for the transaction under a prospectus and prospectus supplement previously filed with the U.S. Securities and Exchange Commission. The offering was conducted solely by means of the final prospectus documents.
3. Use of Proceeds and Pipeline
Proceeds are expected to fund preparation of marketing authorization applications for deucrictibant immediate-release capsules and the ongoing global pivotal Phase 3 CHAPTER-3 study of extended-release tablets, with topline data anticipated in the third quarter of 2026, as well as continued enrollment in the CREAATE Phase 3 prophylaxis and on-demand trial.