Corvus Pharmaceu Stock Price, News & Analysis

Corvus Pharmaceuticals (CRVS) provided a business update and reported third-quarter financial results for 2021. The company's cash and marketable securities increased to $76.3 million from $44.3 million at year-end 2020, largely due to stock offerings. Their lead drug, mupadolimab, is being tested in several trials for non-small cell lung cancer (NSCLC) and HPV+ head and neck cancers, with results expected in 2022. The company incurred a net loss of $10.7 million in Q3 2021, higher than the previous year’s $9.8 million loss, driven by increased clinical trial costs.

Corvus Pharmaceuticals (Nasdaq: CRVS) announced the approval of its partner Angel Pharmaceuticals' IND application to initiate a Phase 1/1b clinical trial for CPI-818 in relapsed/refractory T-cell lymphomas in China. Corvus holds a 49.7% equity stake in Angel Pharma, responsible for all development costs. CPI-818 is the only clinical-stage ITK-inhibitor in China and has shown promising interim results in earlier trials. The initiative aligns with Corvus’ strategy to enhance global product development, addressing a significant healthcare need in China.

Angel Pharmaceuticals announced the approval of its IND application for CPI-818, a unique ITK inhibitor, by the Center for Drug Evaluation in China. This drug targets relapsed/refractory T-cell lymphomas and is the only ITK inhibitor in clinical development. CPI-818 has shown promising anti-tumor activity and is currently in a multi-center Phase 1b/2 trial in the U.S. and Asia. The collaboration with Corvus Pharmaceuticals provides Angel with the rights to develop and commercialize CPI-818 in China, presenting a crucial step in addressing the unmet need for effective treatments in this patient population.

Corvus Pharmaceuticals (Nasdaq: CRVS) announced positive results from a COVID-19 randomized controlled study involving 40 patients treated with mupadolimab, showing improved primary and secondary endpoints compared to placebo. The Phase 3 trial, though discontinued voluntarily, indicated a potential dose-response effect, particularly at 2mg/kg, with no reported adverse events. The company is also conducting a Phase 1b/2 trial for mupadolimab in oncology, with data expected to be presented at the SITC meeting in November.

Corvus Pharmaceuticals, a clinical-stage biopharmaceutical company (NASDAQ: CRVS), announced participation in two investor conferences in September 2021. The first event, the H.C. Wainwright Annual Global Investment Conference, is set for September 13-15, where CEO Richard A. Miller will offer a pre-recorded presentation available starting September 13 at 7:00 am ET. The second event, the Cantor Virtual Global Healthcare Conference, runs from September 27-30, with Dr. Miller presenting on September 29 from 3:20-3:50 pm ET. Webcast replays will be accessible for 90 days post-event.

Corvus Pharmaceuticals (Nasdaq: CRVS) announced that its partner, Angel Pharmaceuticals, received approval for a Phase 1/1b clinical trial of CPI-818 in China for T cell lymphomas. This milestone, expected to initiate by year-end 2021, underscores Corvus’ global growth strategy. CPI-818, an ITK inhibitor, shows potential in treating T cell malignancies, with interim trial results demonstrating significant tumor responses. Additionally, Angel Pharma launched new R&D centers in China and the U.S., enhancing its capabilities in drug development.

Corvus Pharmaceuticals, Inc. (Nasdaq: CRVS) reported its Q2 2021 financial results, revealing cash reserves of $66.5 million, up from $44.3 million at year-end 2020. The company continues to develop mupadolimab for HPV+ head and neck cancer and other viral-related cancers, having begun a Phase 1b/2 trial. Corvus discontinued its Phase 3 COVID-19 trial, reducing expected 2021 operating cash use to $35-$37 million, down from $46-$48 million. R&D expenses rose to $9.1 million, resulting in a net loss of $11.8 million for the quarter.

Corvus Pharmaceuticals (NASDAQ: CRVS) announced the discontinuation of its Phase 3 study of mupadolimab for COVID-19, citing successful vaccine trends. The company will focus on oncology, particularly for HPV+ head and neck cancer, where mupadolimab is in an ongoing Phase 1/1b trial. Initial evidence suggests its effectiveness in enhancing immune responses. Additionally, Corvus reduced its projected 2021 net cash used in operating activities by $11 million, now estimating between $35-37 million. The company had $66.5 million in cash as of June 30, 2021.

BURLINGAME, Calif., May 25, 2021 – Corvus Pharmaceuticals (NASDAQ: CRVS) will present at the Jefferies Virtual Healthcare Conference on June 3, 2021, from 4:00-4:25 pm ET. The presentation will be available via live webcast and accessible for 30 days afterwards through the investor relations section of Corvus' website.

Corvus focuses on developing innovative therapies, with lead candidate mupadolimab in Phase 3 trials for COVID-19 and ongoing studies for T-cell lymphomas. For detailed information, visit www.corvuspharma.com.