Pharvaris (PHVS) investor relations material

Deucrictibant's value proposition and market differentiation

• Oral therapy offers convenience and high patient preference, aiming for injectable-like efficacy and placebo-like tolerability.

• No current therapy fully meets the trifecta of oral administration, high efficacy, and low side effects.

• Two formulations (on-demand and prophylactic) allow for individualized patient management and seamless transition as needs change.

• Mechanistically, deucrictibant is a bradykinin B2 receptor antagonist, potentially effective across multiple angioedema subtypes.

• FDA TQT waivers for both formulations accelerate timelines and differentiate from competitors.

Market trends, competitive landscape, and patient needs

• Prophylactic segment is growing, now representing about 67% of patients and 80% of market value.

• On-demand segment remains viable, with innovation lagging but oral options seen as highly attractive.

• Newly diagnosed and younger patients show strong preference for oral therapies; 67% of surveyed patients are dissatisfied with current options.

• Payers value single-dose attack resolution, reducing complexity and uncertainty in treatment.

• No drastic changes in pricing landscape; payer structure remains stable.

Clinical development, efficacy, and regulatory milestones

• Phase 3 RAPIDe-3 on-demand readout moved up to Q4 2025 due to rapid enrollment and attack data collection.

• Phase 2 data show rapid symptom relief, low need for second dose, and high attack resolution rates.

• Prophylactic Phase 2 showed 87% attack reduction vs. placebo, with open-label extension improving to 93%.

• Phase 3 prophylactic readout expected in H2 2026; enrollment on track.

• Expansion into acquired angioedema and broader bradykinin-mediated indications underway.