Pharvaris N.V. Files 2025 Annual Report, Maintains Foreign Issuer Status

TL;DR

**Pharvaris N.V.'s 20-F filing is a procedural update, offering no immediate catalysts but confirming regulatory compliance for 2025.**

AI Summary

Pharvaris N.V. filed its 20-F for the period ending December 31, 2025, indicating its ongoing status as a foreign private issuer. The filing itself does not contain specific financial figures for revenue or net income, as it is a structural document outlining the company's annual report requirements. Key business changes or strategic outlooks are not detailed within the provided metadata, which focuses on the filing's technical aspects and company identification. Risks are implicitly tied to the nature of a pharmaceutical preparations company, but no specific risk factors or dollar amounts are extractable from the given information. The document confirms Pharvaris N.V.'s business address as J.H. Oortweg 21, 2333 CH Leiden, Netherlands, and its fiscal year end as December 31. The filing includes various exhibits such as EX-2.1, EX-8.1, and EX-11.1, which typically contain agreements, lists of subsidiaries, and codes of ethics, respectively, but their content is not summarized here. The company's CIK is 0001830487 and its SIC code is 2834 for Pharmaceutical Preparations.

Why It Matters

This 20-F filing confirms Pharvaris N.V.'s compliance with SEC reporting requirements as a foreign private issuer for the 2025 fiscal year. For investors, it signals continued transparency and adherence to regulatory standards, which is crucial for maintaining market confidence. While specific financial details are not provided in the metadata, the filing's existence indicates the company's operational continuity in the competitive pharmaceutical preparations sector. Employees and customers can infer stability from the company's ongoing regulatory compliance, suggesting a steady operational environment. The broader market gains clarity on Pharvaris's reporting schedule and legal standing.

Risk Assessment

Risk Level: low — The provided information is purely administrative, detailing the filing of a 20-F document by Pharvaris N.V. for the period ending December 31, 2025. There are no financial figures, operational updates, or specific risk factors mentioned that would indicate a 'medium' or 'high' risk level. The filing itself is a standard regulatory requirement, not an event that inherently introduces new risks.

Analyst Insight

Investors should view this filing as a routine compliance update, not a trigger for immediate action. Further due diligence on the full 20-F document is required to assess Pharvaris N.V.'s financial performance, operational risks, and strategic direction for the 2025 fiscal year. This metadata alone does not provide sufficient information for investment decisions.

Key Numbers

• 2025-12-31 — Fiscal Year End (The period covered by this 20-F report.)
• 2026-04-02 — Filing Date (When the 20-F was officially submitted to the SEC.)
• 0001830487 — CIK (Unique identifier for Pharvaris N.V. with the SEC.)
• 2834 — SIC Code (Industry classification for Pharmaceutical Preparations.)

Key Players & Entities

• Pharvaris N.V. (company) — Filer of 20-F
• SEC (regulator) — Securities and Exchange Commission
• 0001830487 (regulator) — CIK of Pharvaris N.V.
• 2025-12-31 (date) — Period of Report
• 2026-04-02 (date) — Filing Date
• J.H. Oortweg 21, 2333 CH Leiden, Netherlands (company) — Business Address of Pharvaris N.V.
• 31 (0)71 203 6410 (company) — Phone number of Pharvaris N.V.
• 2834 (company) — SIC code for Pharmaceutical Preparations

FAQ

Industry Context

Pharvaris N.V. operates in the pharmaceutical preparations industry, a sector characterized by significant research and development investment, stringent regulatory oversight, and long product development cycles. The industry is highly competitive, with companies striving to bring innovative therapies to market. Trends include a focus on specialized treatments, advancements in biotechnology, and evolving global healthcare policies.

Regulatory Implications

As a foreign private issuer in the pharmaceutical sector, Pharvaris N.V. is subject to SEC regulations for its 20-F filings and ongoing disclosure requirements. Compliance with Good Manufacturing Practices (GMP) and other health authority regulations (e.g., FDA, EMA) is critical for its product development and commercialization efforts, posing potential risks if not met.

What Investors Should Do

1. Review exhibits for detailed agreements and subsidiary information.
2. Monitor future filings for financial performance data.

Key Dates

• 2025-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2026-04-02: Filing Date — Indicates when the annual report was submitted to the SEC, providing a timeline for regulatory compliance.

Glossary

20-F

An annual report required by the U.S. Securities and Exchange Commission (SEC) for foreign private issuers, containing comprehensive information about the company's business, financial condition, and management. (This is the primary document being analyzed, providing the structural framework for Pharvaris N.V.'s disclosures.)

CIK

Central Index Key, a unique identifier assigned to each entity that files with the SEC. (Essential for tracking all filings and information related to Pharvaris N.V. on the SEC's EDGAR system.)

SIC Code

Standard Industrial Classification code, used to classify industries and businesses. (Identifies Pharvaris N.V. as operating within the Pharmaceutical Preparations industry (SIC 2834).)

iXBRL

Inline eXtensible Business Reporting Language, a standard for digital financial reporting that embeds XBRL data directly into HTML documents. (Indicates that the 20-F filing includes machine-readable financial data, facilitating automated analysis.)

Year-Over-Year Comparison

This analysis is based on the 20-F filing for the period ending December 31, 2025. As this is a structural document and specific financial performance data for revenue, net income, or margins is not provided, a direct comparison to a previous filing regarding these metrics is not possible. The filing confirms the company's status as a foreign private issuer and its industry classification (SIC 2834), but lacks comparative operational or financial changes.

Key Financial Figures

• $ — mmunity, as amended. All references to "$," "US
  quot; or "U.S. dollars" are to the la

Filing Documents

• phvs-20251231.htm (20-F) — 5355KB
• phvs-ex2_1.htm (EX-2.1) — 200KB
• phvs-ex8_1.htm (EX-8.1) — 9KB
• phvs-ex11_1.htm (EX-11.1) — 77KB
• phvs-ex12_1.htm (EX-12.1) — 15KB
• phvs-ex12_2.htm (EX-12.2) — 14KB
• phvs-ex13_1.htm (EX-13.1) — 5KB
• phvs-ex13_2.htm (EX-13.2) — 5KB
• phvs-ex15_1.htm (EX-15.1) — 5KB
• phvs-ex97_1.htm (EX-97.1) — 38KB
• img22554315_0.gif (GRAPHIC) — 74KB
• img22554315_1.gif (GRAPHIC) — 53KB
• img22554315_2.gif (GRAPHIC) — 42KB
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• img22554315_7.jpg (GRAPHIC) — 185KB
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• img22554315_10.gif (GRAPHIC) — 41KB
• img22554315_11.gif (GRAPHIC) — 54KB
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• img22554315_15.jpg (GRAPHIC) — 107KB
• img22554315_16.jpg (GRAPHIC) — 76KB
• img22554315_17.jpg (GRAPHIC) — 117KB
• 0001830487-26-000013.txt ( ) — 18077KB
• phvs-20251231.xsd (EX-101.SCH) — 1349KB
• phvs-20251231_htm.xml (XML) — 2897KB

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 7 A. Directors and senior management 7 B. Advisers 7 C. Auditors 7

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 7 A. Offer statistics 7 B. Method and expected timetable 7

KEY INFORMATION

ITEM 3. KEY INFORMATION 7 A. Reserved 7 B. Capitalization and indebtedness 7 C. Reasons for the offer and use of proceeds 7 D.

INFORMATION ON THE COMPANY

ITEM 4. INFORMATION ON THE COMPANY 45 A. History and development of the company 45 B. Business Overview 45 C. Organizational structure 77 D. Property, plants and equipment 78

UNRESOLVED STAFF COMMENTS

ITEM 4A. UNRESOLVED STAFF COMMENTS 78

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 78 A. Operating results 78 B. Liquidity and capital resources 84 C. Research and development, patents and licenses, etc. 86 D. Trend information 86 E. Critical accounting estimates 87

DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 88 A. Directors and senior management 88 B. Compensation 91 C. Board practices 97 D. Employees 99 E. Share ownership 99 F. Disclosure of a registrant's action to recover erroneously awarded compensation 99

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 100 A. Major shareholders 100 B. Related party transactions 102 C. Interests of Experts and Counsel 104

FINANCIAL INFORMATION

ITEM 8. FINANCIAL INFORMATION 104 A. Consolidated statements and other financial information 104 B. Significant changes 105

THE OFFER AND LISTING

ITEM 9. THE OFFER AND LISTING 105 A. Offering and listing details 105 B. Plan of distribution 105 C. Markets 105 D. Selling shareholders 105 E.

Dilution

Dilution 105 F. Expenses of the issue 105

ADDITIONAL INFORMATION

ITEM 10. ADDITIONAL INFORMATION 105 A. Share capital 105 B. Memorandum and Articles of Association 105 C. Material contracts 106 D. Exchange controls 106 E. Taxation 106 F. Dividends and paying agents 113 G. 113 H. Documents on display 113 I. Subsidiary information 113 J. Annual Report to Security Holders 113 i Table of Contents

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 114

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 114 A. Debt securities 114 B. Warrants and rights 114 C. Other securities 114 D. American Depositary Shares 114 PART II 114

DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 114 A. Defaults 114 B. Arrears and delinquencies 114

MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 114 A. Material modifications to instruments 114 B. Material modifications to rights 114 C. Withdrawal or substitution of assets 114 D. Change in trustees or paying agents 114 E.

Use of Proceeds

Use of Proceeds 114

CONTROLS AND PROCEDURES

ITEM 15. CONTROLS AND PROCEDURES 114 A. Disclosure Controls and Procedures 114 B. Management's Annual Report on Internal Control over Financial Reporting 115 C. Attestation Report of the Registered Public Accounting Firm 115 D. Changes in Internal Control over Financial Reporting 115

RESERVED

ITEM 16. RESERVED 115

AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 115

CODE OF ETHICS

ITEM 16B. CODE OF ETHICS 115

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 116 A. Audit Fees 116 B. Audit-Related Fees 116 C. Tax Fees 116 D. All Other Fees 116 E. Audit Committee's Pre-Approval Policies and Procedures 116 F. Audit Work Performed by Other Than Principal Accountant if Greater than 50% 116

EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 116

PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 116

CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 116

CORPORATE GOVERNANCE

ITEM 16G. CORPORATE GOVERNANCE 116

MINE SAFETY DISCLOSURE

ITEM 16H. MINE SAFETY DISCLOSURE 116

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 116

. INSIDER TRADING POLICY

ITEM 16J . INSIDER TRADING POLICY 117

CYBERSECURITY

ITEM 16K. CYBERSECURITY 117 PART III 118

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS 118

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS 118

Exhibits

ITEM 19. Exhibits 118 Index to Consolidated Financial Statements F- 1 ii Table of Contents Unless otherwise indicated or the context otherwise requires, all references in this Annual Report on Form 20-F, or this Annual Report, to "Pharvaris N.V.," "Pharvaris," the "Company," "we," "our," "ours," "us" or similar terms refer to Pharvaris N.V. and its subsidiaries. Presentation of Financial and Other Information We report under IFRS Accounting Standards, or IFRS, as issued by the International Accounting Standards Board, or the IASB. None of the consolidated financial statements in this Annual Report were prepared in accordance with generally accepted accounting principles in the United States, or United States Generally Accepted Accounting Principles, or U.S. GAAP. We present our consolidated financial statements in euros and in accordance with IFRS, as issued by the IASB. We have made rounding adjustments to some of the figures included in this Annual Report. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them. Unless otherwise indicated, all references in this Annual Report to "," "euro," "EUR" or "cents" are to the currency introduced at the start of the third stage of the European Economic and Monetary Union pursuant to the treaty establishing the European Community, as amended. All references to "$," "US

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS A. Directors and se nior management Not applicable. B. Advi sers Not applicable. C. Audit ors Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE A. Offer st atistics Not applicable. B. Method and expe cted timetable Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. Reserved B. Capitalization a nd indebtedness Not applicable. C. Reasons for the offer and use of proceeds Not applicable. D. Risk fa ctors You should carefully consider the risks and uncertainties described below and the other information in this Annual Report before making an investment in our ordinary shares. Our business, financial condition or results of operations could be materially and adversely affected if any of these risks occur, and as a result, the market price of our ordinary shares could decline, and you could lose all or part of your investment. This Annual Report also contains forward-looking statements that involve risks and uncertainties. See "Cautionary Statement Regarding Forward-Looking Statements." Our actual results could differ materially and adversely from those anticipated in these forward-looking statements as a result of certain factors. Summary Risk Factors We have a limited operating history, have generated no revenues to date and have incurred significant losses since our inception. We expect to incur losses over the next several years, will not generate revenues until we are able to commercialize our products and may never achieve profitability, while our net losses are expected to fluctuate significantly. If we are unable to raise capital when needed or on acceptable terms, we may need to delay, reduce or terminate our product development programs and may be unable to continue as a going concern and could ultimately go into insolvency. Our business and operations may be adversely affected by a variety of events outside our control, including, but not limited to, outbreaks of infectious diseases and geopolitical instability such as the conflict between Russia and Ukraine and the conflict in the Middle East. We are heavily dependent on the success of our product candidates deucrictibant immediate-release (IR) capsule and deucrictibant extended-release (XR) tablet, which are in late-sta

View Full Filing

View this 20-F filing on SEC EDGAR