Pharvaris NV has released its financial results for the first quarter of 2025, reporting a loss of €46.3 million, compared to a loss of €28.0 million for the same period last year. This resulted in a basic and diluted loss per share of €0.85, an increase from €0.52 in the previous year. Research and Development (R&D) expenses rose significantly to €30.9 million from €18.5 million, and General and Administrative (G&A) expenses increased to €11.3 million from €9.8 million year-on-year. The company's liquidity position, comprising cash and cash equivalents, was reported at €236 million as of March 31, 2025, down from €281 million at the end of 2024. In terms of business updates, Pharvaris continues to advance its clinical studies, with enrollment ongoing in the CHAPTER-3 pivotal Phase 3 study of deucrictibant for the prophylaxis of HAE attacks, with topline data expected in the second half of 2026. Additionally, the RAPIDe-3 pivotal Phase 3 study for on-demand treatment of HAE attacks is accumulating data, bolstering confidence in clinical timelines. The company has also received TQT study waivers from the FDA for both the extended-release and immediate-release formulations of deucrictibant. Upcoming investor events include a management call on June 4 and a fireside chat at the 46th Annual Goldman Sachs Global Healthcare Conference on June 11.