Why Is Pharvaris (PHVS) Stock Up 62% Today?
Pharvaris (NASDAQ:PHVS) stock is heading higher on Thursday following the release of positive results from a Phase 2 clinical study.
That clinical trial covers PHVS416, which is an oral treatment for hereditary angioedema (HAE) attacks. The treatment is for patients suffering from Type I or Type II HAE. This study included 74 patients randomized into single-dose groups of PHVS416 or a placebo.
The primary endpoint of the study is “the change of a three-symptom composite (skin pain, skin swelling, abdominal pain) visual analogue scale (VAS-3) score from pre-treatment to four hours post-treatment.” Data from 147 attacks suffered by 62 patients shows that PHVS416 helps to significantly reduce attack symptoms.
In addition to this result, the study also met all of its secondary endpoints. That included shortening the time of onset symptom relief, decreasing the time in score reduction, reducing the time taken for complete symptom relief, reducing “mean symptom complex severity” and improving treatment outcome score.
What’s Next for PHVS Stock?
Investors are likely hoping for more gains as Pharvaris continues the development of PHVS416. The intends to reveal more details about the study from future medical meetings as well.
With today’s news comes heavy trading of PHVS stock. As of this writing, more than 27 million shares have changed hands. That’s well above the daily average trading volume of roughly 50,000 shares.
PHVS stock is up 62% as of Thursday morning.
Investors looking for more hot stock market news will want to stick around!
InvestorPlace has all of the most recent stock news traders need to know about on Thursday! Among that is what has shares of Tesla (NASDAQ:TSLA), Express (NYSE:EXPR) and GameStop (NYSE:GME) stock moving today. You can find out more at the following links!
More Thursday Stock Market News
- Why Does Tesla (TSLA) Stock Keep Falling?
- Why Is Express (EXPR) Stock Up 59% Today?
- Is It Time to Give Up on GameStop (GME) Stock?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
More from InvestorPlace