Pharvaris (PHVS) Operating Expenses (2020 - 2026)
Pharvaris (PHVS) posted Operating Expenses of -$51.8 million for Q1 2026, up 6.45% on a QoQ basis from -$55.4 million in Q4 2025, and down 16.8% year-over-year from -$62.3 million in Q1 2025.
Pharvaris (PHVS) Operating Expenses (2020 - 2026) Analysis & Trends
Pharvaris' Operating Expenses history runs 7 years deep, the most recent figure standing at -$51.8 million for Q1 2026.
- Quarterly Operating Expenses fell 16.8% year-over-year to -$51.8 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$199.3 million (down 16.41% YoY) and the FY2025 annual result came in at -$191.9 million, down 21.68% from the prior year.
- Operating Expenses was -$51.8 million for Q1 2026 at Pharvaris, up from -$55.4 million in the prior quarter.
- Across five years, Operating Expenses topped out at $179.3 million in Q4 2023 and bottomed at -$55.4 million in Q4 2025.
- A 5-year average of -$12.5 million and a median of -$30.8 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses increased 17.27% — and 2024, when it sank 126.87%.
- Pharvaris' Operating Expenses stood at $152.9 million in 2022, then rose by 17.27% to $179.3 million in 2023, then sank by 126.87% to -$48.2 million in 2024, then dropped by 14.99% to -$55.4 million in 2025, then increased by 6.45% to -$51.8 million in 2026.
- Business Quant data shows PHVS's Operating Expenses at -$51.8 million in Q1 2026, -$55.4 million in Q4 2025, and -$46.4 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 67,072.09 Bn | 67,072.09 Bn | - | -28.01 Mn |
| 2 | Nanobiotix | 1,894.61 Bn | 1,894.55 Bn | - | - |
| 3 | Akari Therapeutics | 1,014.18 Bn | 1,014.18 Bn | - | 15.76 Mn |
| 4 | BeOne Medicines | 471.64 Bn | 466.85 Bn | 1.35 Bn | 1.10 Bn |
| 5 | Vertex Pharmaceuticals | 121.72 Bn | 114.47 Bn | 2.59 Bn | 1.85 Bn |
| 6 | Regeneron Pharmaceuticals | 68.28 Bn | 59.52 Bn | 3.31 Bn | 2.96 Bn |
| 7 | Belite Bio | 61.40 Bn | 61.40 Bn | - | 32.68 Mn |
| 8 | Argenx Se | 56.94 Bn | 56.94 Bn | 1.18 Bn | -919.00 Mn |
| 9 | Revolution Medicines | 37.37 Bn | 37.37 Bn | - | 445.22 Mn |
| 10 | Pharvaris | 2.22 Bn | 1.94 Bn | - | -51.83 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -51.83 Mn |
| Dec 31, 2025 | -55.41 Mn |
| Sep 30, 2025 | -46.37 Mn |
| Jun 30, 2025 | -45.70 Mn |
| Mar 31, 2025 | -44.38 Mn |
| Dec 31, 2024 | -48.19 Mn |
| Sep 30, 2024 | -41.63 Mn |
| Jun 30, 2024 | -37.03 Mn |
| Mar 31, 2024 | -30.76 Mn |
| Dec 31, 2023 | 179.30 Mn |
| Sep 30, 2023 | -28.52 Mn |
| Jun 30, 2023 | -24.45 Mn |
| Mar 31, 2023 | -22.62 Mn |
| Dec 31, 2022 | 152.90 Mn |
| Sep 30, 2022 | -22.57 Mn |
| Jun 30, 2022 | -22.82 Mn |
| Mar 31, 2022 | -21.75 Mn |
| Dec 31, 2021 | 43,355.10 Bn |
| Sep 30, 2021 | -15.72 Mn |
| Jun 30, 2021 | -15.32 Mn |