Pharvaris N.V. (Nasdaq: PHVS) released data from their Phase 2 study, RAPIDe-1, evaluating the on-demand treatment of hereditary angioedema (HAE) attacks with PHVS416 (deucrictibant immediate-release capsules).

The study showed that treatment with PHVS416 resulted in a rapid and significant improvement in HAE symptoms compared to placebo, with clinically meaningful benefits observed within hours. 

According to Pharvaris, the trial successfully met its primary and key secondary endpoints, supporting the further development of PHVS416 as a potential on-demand therapy for HAE. 

On Friday, $PHVS, closed at $11.33, up $2.77 (+32.36%).

Chinook Therapeutics, Inc. (Nasdaq: KDNY) said that it has entered into a merger agreement with Novartis AG (NYSE: NVS) valued at up to approximately $3.5 billion. 

The agreement entails Novartis acquiring all outstanding shares of Chinook through a subsidiary for $40 per share in cash at closing. Furthermore, Chinook shareholders will receive contingent value rights (CVRs) that may result in additional payments of up to $4 per share, contingent upon specific regulatory approvals for atrasentan. Of this amount, $2 is related to IgA nephropathy, and another $2 is related to focal segmental glomerulosclerosis. 

$KDNY closed at $23.99 on Friday, showing a minor increase of $0.04 (+0.17%).

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