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SEC filingPharvaris reported €175.7 million full-year 2025 net loss and €291.7 million cash as of December 31, 2025, while advancing deucrictibant IR NDA submission in 1H2026 and anticipating CHAPTER-3 topline data in 3Q2026.
Pharvaris’ 2025 financial results reflect continued late-stage clinical investment, with R&D expenses increasing 26% year-over-year to €124.5 million, driven by advancement of multiple pivotal trials including CHAPTER-3, CREAATE, and preparation for the deucrictibant IR NDA. The €175.7 million full-year net loss (€2.97 per share) widened from €134.2 million (€2.48 per share) in 2024, consistent with expanded trial activity and operational scale. G&A expenses declined modestly to €45.3 million, indicating disciplined non-R&D spending. Critically, the company ended 2025 with €291.7 million in cash — a 3.8% increase from €281 million at year-end 2024 — providing runway through key near-term value inflection points: the planned 1H2026 NDA submission for deucrictibant IR and the anticipated 3Q2026 topline readout of CHAPTER-3. Management emphasized execution discipline and strategic focus on two distinct formulations (XR for prophylaxis, IR for on-demand) across two disease states (HAE and AAE-C1INH), reinforcing the breadth of deucrictibant’s potential regulatory and commercial pathway. No forward-looking financial guidance was disclosed in this release.