Phar­varis soars on mid-stage da­ta for se­vere swelling con­di­tion, rais­es $300M

Phar­varis im­me­di­ate­ly an­nounced the pric­ing of a $300 mil­lion of­fer­ing on Wednes­day af­ter dis­clos­ing pos­i­tive mid-stage da­ta on its oral drug for a rare, in­her­it­ed dis­or­der that leads to se­vere swelling at­tacks.

The Swiss biotech said its twice-dai­ly cap­sule for treat­ing and pre­vent­ing hered­i­tary an­gioede­ma (HAE) at­tacks met the pri­ma­ry end­point in a 34-pa­tient Phase II study. Known as CHAP­TER-1, the transat­lantic tri­al is still on clin­i­cal hold in the US but has con­tin­ued run­ning in Cana­da and Eu­rope.

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