How did Pharvaris' expenses impact profits in Q3 2024?

Pharvaris' expenses had a significant impact on profits in Q3 2024, resulting in a net loss of $46.49 million and a diluted EPS of -$0.86. The company's financial performance was influenced by several factors:

1. **Reduced Earnings Estimates**: Pharvaris' Q3 2024 earnings per share (EPS) estimates were reduced by Wedbush from $0.47 to $0.61, reflecting a more pessimistic outlook on profitability. This adjustment in estimates likely contributed to the lower-than-expected earnings performance.
2. **Operating Expenses**: The company's total revenue for the quarter was not provided, but the net income of -$46.49 million indicates that expenses exceeded revenue. This could be due to high operating expenses, research and development costs, or other corporate expenses that Pharvaris incurred during the quarter.
3. **Cash Flow and Liquidity**: Pharvaris' free cash flow and income from operations were not disclosed, but a negative net income suggests that the company may have faced challenges in generating cash from its operations. This could impact its ability to fund ongoing operations and invest in growth opportunities.

In conclusion, Pharvaris' expenses had a substantial negative impact on profits in Q3 2024, leading to a significant net loss and a diluted EPS below zero. The company's reduced earnings estimates and undisclosed total revenue for the quarter further underscore the importance of managing expenses effectively to maintain profitability.