05:36 PM EDT, 07/22/2025 (MT Newswires) -- Pharvaris ( PHVS ) said late Tuesday it plans a public offering of $150 million of common shares.

The company will grant underwriters a 30-day overallotment option to buy up to an additional $22.5 million of common shares, according to a statement.

Pharvaris ( PHVS ) will use the net proceeds to fund research expenses, hire a US sales and marketing team, and for general corporate purposes, the company said.

Shares fell 9.6% during after-hours trading.