Pharvaris N.V. (NASDAQ: PHVS) announced the pricing of an underwritten offering of 3,874,664 ordinary shares at $29.68 per share, according to a company statement. The biopharmaceutical company expects to receive gross proceeds of approximately $115 million before deducting underwriting discounts, commissions and offering expenses.

The company granted underwriters a 30-day option to purchase up to 581,199 additional ordinary shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about May 11, 2026, subject to customary closing conditions.

Morgan Stanley, Leerink Partners, Cantor and Wells Fargo Securities serve as joint book-running managers for the offering. All shares are being sold by Pharvaris through an effective shelf registration statement previously filed with the Securities and Exchange Commission.

Pharvaris develops oral bradykinin B2 receptor antagonists for bradykinin-mediated diseases including hereditary angioedema and acquired angioedema due to C1 inhibitor deficiency. The company is preparing marketing authorization applications for deucrictibant immediate-release capsules as an on-demand treatment for hereditary angioedema attacks.

The company's global Phase 3 study of deucrictibant extended-release tablets for hereditary angioedema prevention, called CHAPTER-3, is ongoing with topline data expected in the third quarter of 2026. Pharvaris also conducts the CREAATE Phase 3 study of deucrictibant for prophylactic and on-demand treatment of acquired angioedema attacks.