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Pharvaris Could Gain Hereditary Angioedema Market Share on Deucrictibant XR Data, RBC Says

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Pharvaris (PHVS) could gain greater market share in hereditary angioedema with its deucrictibant extended-release or XR tablets following compelling phase 3 data, RBC Capital Markets said in a Wednesday note.

The brokerage said the global phase 3 study's 83% placebo-adjusted reduction in the mean monthly attack rate, along with robust responder data, suggests deucrictibant XR could be a front-line option in HAE as its efficacy rivals that of injectable therapies.

Safety data was generally clean and the product candidate was well tolerated, but RBC flagged liver enzyme elevations that will warrant monitoring as data from the ongoing open-label extension study matures.

The investment firm raised its global peak sales estimate for deucrictibant XR to about 720 million euros ($838 million) from 670 million euros previously, citing greater market-share potential among prophylaxis-naive patients and those using oral or injectable alternatives.

RBC raised its price target on Pharvaris to $62 from $52, with an outperform rating.

Price: $37.38, Change: $-0.47, Percent Change: -1.23%

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