Pharvaris NV
PHVSHealthcare|Biotechnology|Netherlands
$35.02
-0.86 (-2.39%)
Tangible Book
$4.18
Earnings Power
$4.31
Financials
Financial Snapshot
Market Cap
$2.45B
Enterprise Value
$284.6M
Revenue (TTM)
$0.00
Net Income (TTM)
$-196.1M
Cash & Equivalents
—
Net Cash/Share
$3.95
Free Cash Flow (TTM)
$-171.5M
Operating CF (TTM)
$-171.4M
Debt/Equity
0
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$42.8M
Monthly Burn
$14.3M
Est. Runway
—
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $5.7M | $6.1M | $22.6M | $120.0M | $236.6M | $171.4M | $426.6M | $294.0M | $341.5M | $285.5M | |
| Operating Cash Flow | $0.00 | $-4.5M | $-7.4M | $-26.2M | $-50.4M | $-71.1M | $-101.5M | $-125.8M | $-160.5M | $-171.4M | |
| Free Cash Flow | $0.00 | $-4.5M | $-7.4M | $-26.2M | $-50.5M | $-71.3M | $-101.6M | $-126.4M | $-160.7M | $-171.5M | |
| Capital Expenditure | $0.00 | $0.00 | $-14.0K | $-52.0K | $-147.0K | $-131.0K | $-98.0K | $-563.0K | $-193.0K | $-64.0K | |
| Financing Cash Flow | $0.00 | $5.1M | $24.0M | $123.1M | $162.3M | $9.2M | $354.8M | $2.8M | $188.1M | $188.5M |
R&D Spending
R&D (TTM)
$144.0M
R&D Intensity
—
R&D Growth YoY
-1.2%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $0.00 | $4.1M | $6.3M | $23.7M | $40.4M | $60.8M | $71.5M | $103.2M | $145.8M | $144.0M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | — | — | |
| SG&A | $0.00 | $760.0K | $2.6M | $6.7M | $20.7M | $31.1M | $34.2M | $49.3M | $53.1M | $56.0M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $0.00 | $4.1M | $6.3M | $23.7M | $40.4M | $60.8M | $71.5M | $103.2M | $145.8M | $144.0M | |
| SG&A | $0.00 | $760.0K | $2.6M | $6.7M | $20.7M | $31.1M | $34.2M | $49.3M | $53.1M | $56.0M | |
| Operating Income | $0.00 | $-4.9M | $-8.9M | $-30.4M | $-61.2M | $-91.9M | $-105.7M | $-152.6M | $-198.9M | $-200.0M | |
| Interest Expense | $0.00 | $0.00 | $-7.0K | $-112.0K | $-320.0K | $-17.0K | $0.00 | $0.00 | $0.00 | $-104.0K | |
| Pretax Income | $0.00 | $-4.9M | $-8.9M | $-31.7M | $-48.2M | $-80.1M | $-108.9M | $-138.6M | $-203.4M | $-193.8M | |
| Net Income | $0.00 | $-4.9M | $-8.9M | $-31.6M | $-48.3M | $-80.9M | $-110.0M | $-140.5M | $-205.7M | $-196.1M | |
| EPS (Diluted) | 0.00 | -0.15 | -0.28 | -1.04 | -1.58 | -2.40 | -2.87 | -2.60 | -3.48 | -3.19 | |
| EBITDA | $0.00 | $-4.9M | $-8.9M | $-31.6M | $-61.1M | $-91.7M | $-105.4M | $-152.3M | $-198.4M | $-199.6M | |
| Shares Out. (M) | - | 31.84 | 31.84 | 30.52 | 30.41 | 33.59 | 38.39 | 54.02 | 59.16 | 65.42 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.7M | $6.1M | $22.6M | $120.0M | $236.6M | $171.4M | $426.6M | $294.0M | $341.5M | $285.5M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $5.7M | $6.2M | $22.9M | $122.8M | $239.1M | $176.7M | $433.9M | $303.1M | $350.3M | $297.9M | |
| Total Assets | $5.7M | $6.2M | $22.9M | $123.0M | $239.7M | $177.7M | $434.8M | $305.1M | $353.0M | $300.3M | |
| Total Current Liabilities | $164.0K | $547.0K | $2.1M | $6.5M | $7.9M | $19.3M | $15.9M | $24.1M | $34.7M | $26.5M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $164.0K | $547.0K | $2.1M | $6.5M | $8.1M | $19.6M | $16.0M | $24.7M | $35.3M | $27.1M | |
| Stockholders' Equity | $5.5M | $5.6M | $20.7M | $116.5M | $231.6M | $158.1M | $418.8M | $280.4M | $317.7M | $273.2M | |
| Retained Earnings | $-7.3M | $-11.9M | $-20.5M | $-54.1M | $-98.9M | $-173.9M | $-290.0M | $-421.2M | $-678.7M | $-716.2M |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $0.00 | $-4.5M | $-7.4M | $-26.2M | $-50.4M | $-71.1M | $-101.5M | $-125.8M | $-160.5M | $-171.4M | |
| Capital Expenditure | $0.00 | $0.00 | $-14.0K | $-52.0K | $-147.0K | $-131.0K | $-98.0K | $-563.0K | $-193.0K | $-64.0K | |
| Free Cash Flow | $0.00 | $-4.5M | $-7.4M | $-26.2M | $-50.5M | $-71.3M | $-101.6M | $-126.4M | $-160.7M | $-171.5M | |
| Investing Cash Flow | $0.00 | $0.00 | $-14.0K | $-52.0K | $-147.0K | $-131.0K | $-98.0K | $-563.0K | $-193.0K | $-64.0K | |
| Financing Cash Flow | $0.00 | $5.1M | $24.0M | $123.1M | $162.3M | $9.2M | $354.8M | $2.8M | $188.1M | $188.5M | |
| Issuance of Stock | $0.00 | $5.1M | $25.0M | $124.7M | $177.2M | $10.2M | $373.9M | $2.4M | $201.1M | $201.5M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-127.0K | $-241.0K | $-168.0K | $-256.0K | $-205.0K | |
| Stock Based Comp. | $0.00 | $115.0K | $129.0K | $1.9M | $9.3M | $12.0M | $11.6M | $17.0M | $22.3M | $23.1M | |
| Net Change in Cash | $0.00 | $672.0K | $16.6M | $95.3M | $125.1M | $-50.3M | $250.2M | $-115.7M | $12.8M | $13.9M |
Dilution Tracker
Shares outstanding grew 115.1% over 5 years — significant dilution
Shares Outstanding
65M
5-Year Share Growth
+115.1%
Stock Issuance (TTM)
$201.5M
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | - | 31.84 | 31.84 | 30.52 | 30.41 | 33.59 | 38.39 | 54.02 | 59.16 | 65.42 | |
| YoY Change % | — | — | 0.0% | -4.1% | -0.4% | 10.4% | 14.3% | 40.7% | 9.5% | 10.6% | |
| Stock Issuance | $0.00 | $5.1M | $25.0M | $124.7M | $177.2M | $10.2M | $373.9M | $2.4M | $201.1M | $201.5M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $115.0K | $129.0K | $1.9M | $9.3M | $12.0M | $11.6M | $17.0M | $22.3M | $23.1M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | -88.1% | -67.6% | -46.1% | -27.7% | -41.5% | -38.1% | -40.2% | -68.8% | -69.4% | |
| ROA % | 0.0% | -82.8% | -61.4% | -43.3% | -26.6% | -38.8% | -35.9% | -38.0% | -62.5% | -62.8% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical— / — / —
Industry Med.9.49
P/B8.39
Historical— / — / 8.39
Industry Med.2.93
EV/EBITDA-10.86
Historical-10.86 / — / —
Industry Med.13.02
EV/Revenue—
Historical— / — / —
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$4.18
Net Current Assets
$4.140
Net-Net Working Capital
$3.95
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 2.06 | 2.41 | 3.50 | 3.72 | 5.70 | 8.39 | |
| EV/EBITDA | 0.00 | 0.00 | 0.00 | 0.00 | -3.94 | -2.28 | -9.87 | -4.92 | -7.41 | -10.86 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
2
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $42.11M | $201.48M |
| Net Income | $-214.08M | $-193.32M | $-88.35M |
| EPS | -2.97 | -2.68 | -1.14 |
| Book Value per Share | 4.67 | 1.88 | 1.40 |
| Operating Cash Flow per Share | -2.04 | -1.20 | 0.00 |
| Operating CF | $-133.47M | $-78.29M | $0.00M |