Corvus Pharmaceuticals reports clinical, financing, governance, and financial updates for a clinical-stage biopharmaceutical company developing ITK inhibition as an immunotherapy approach for immune diseases and cancer. Its lead candidate, soquelitinib, is an investigational oral small molecule designed to selectively inhibit interleukin-2-inducible T cell kinase, a protein involved in T cell activation, signaling, differentiation, and function.
Recurring company news centers on soquelitinib clinical development in relapsed/refractory peripheral T cell lymphoma and atopic dermatitis, including immunologic and biomarker data presented at medical meetings. Updates also cover business results, public equity financing for research and development, board composition, and other clinical-stage pipeline disclosures.
Corvus Pharmaceuticals (NASDAQ: CRVS) reported Q1 2020 business updates and financial results on April 30, 2020. The company achieved significant patient enrollment across three clinical programs. Key developments include positive data for ciforadenant, the Adenosine Gene Signature, and CPI-818. Corvus holds a strong position in targeting the adenosine pathway in oncology. Financially, Corvus reported a net loss of $12.9 million and cash reserves of $68.7 million. The company revised its 2020 operational cash forecast to $29-31 million due to COVID-19 impacts.