Pharvaris (NASDAQ:PHVS) priced an underwritten offering of 8.25 million shares at $20 each and 500,000 pre-funded warrants at $19.99 each, raising around $175 million in gross proceeds.
The company also granted underwriters a 30-day option to purchase up to 1.31 million additional shares. The offering is expected to close by July 24, 2025, pending customary conditions.
PHVS fell 7% after hours.