Corvus Pharmaceuticals Conference Call Summary Company Overview - **Company**: Corvus Pharmaceuticals (NasdaqGM:CRVS) - **Focus**: Development of first-in-class immune modulators for oncology and immune-mediated diseases, particularly atopic dermatitis and peripheral T-cell lymphoma [2][3] Key Product: Soquelitinib - **Description**: A novel oral therapy targeting interleukin-2-inducible T-cell kinase (ITK), showing promise in treating atopic dermatitis and other immune diseases [2][3] - **Current Trials**: - Phase 3 trial for peripheral T-cell lymphoma ongoing, with interim analysis expected by year-end 2026 [3][4] - Phase 2 trial for atopic dermatitis to start soon, with data expected in approximately 18 months [4] - Two additional Phase 2 proof-of-concept studies in asthma and hidradenitis suppurativa (HS) planned for this year [4] Clinical Trial Results - **Efficacy in Atopic Dermatitis**: - 75% of patients achieved EASI-75, 25% achieved EASI-90, and 33% achieved IGA 0/1 after 8 weeks of treatment [11][24] - Mean EASI score reduction of 72% compared to 40% in placebo [24] - Durability of response observed, with continued reductions in EASI scores even after treatment cessation [11][20] - **Patient Population**: Included patients who had failed prior systemic therapies, demonstrating efficacy in a typically excluded population [31][32] Safety Profile - **Safety Observations**: No new safety signals reported in the extended 8-week treatment duration; adverse events (AEs) were similar between active and placebo groups [32][33] - **Specific AEs**: No significant lab abnormalities or infections reported; no injection site reactions due to the oral administration of soquelitinib [33] Market Opportunity - **Atopic Dermatitis Market**: - Affects approximately 30 million patients in the G7, with the market projected to grow from $12 billion in 2023 to $28 billion by 2030 [37] - Significant unmet need for oral therapies, as only about 10% of eligible patients are currently receiving advanced treatments [37] - **Commercial Potential**: The immune-mediated (IM) market is expected to reach $170 billion by 2030, with oral agents representing a small fraction of this potential [10] Competitive Advantage - **Mechanism of Action**: Soquelitinib modulates multiple inflammatory pathways, differentiating it from other therapies that typically target single cytokines [8][9] - **Intellectual Property**: Strong IP protection for soquelitinib, with composition of matter protection extending through 2037 [3] Upcoming Milestones - **Future Trials**: Phase 2 trial for atopic dermatitis to enroll 200 patients, with results expected in 2026 [36] - **Data Presentations**: Upcoming presentations at AAD and SID meetings to share further data [45] Conclusion - **Overall Assessment**: Soquelitinib is positioned as a promising first-in-class therapy with a favorable safety profile and significant efficacy in treating atopic dermatitis and other immune diseases, supported by a strong clinical pipeline and market potential [45]

SOUTH SAN FRANCISCO, Calif., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, today announced that members of its leadership team will conduct one-on-one meetings with investors and present a corporate overview at Oppenheimer 36th Annual Healthcare Life Sciences Conference which is being held virtually. The presentation will be on Thursday, February 26, 2026 at 2:40pm ET. A webcast of the presentation will be available live and for 90 ...

Company Performance - The S&P 500 has shown sluggish performance in early 2026, rising just over 1% overall, but several individual companies have significantly outperformed this benchmark [2] - Corvus Pharmaceuticals Inc. has seen its shares spike by 188% year-to-date, driven by positive trial data for its drug candidate soquelitinib, which showed a 72% reduction in eczema severity in a Phase 1 trial [3][4] - New Era Energy & Digital has made progress in providing data center capacity despite facing legal hurdles [6] - USA Rare Earth has secured approximately $1.6 billion in federal funding to develop a domestic alternative to foreign rare earth minerals [6] Investment Outlook - Analysts remain bullish on Corvus Pharmaceuticals, with six out of seven analysts rating the stock as a Buy and a consensus price target suggesting an additional 51% growth potential [5] - Corvus initiated a $150 million equity offering to fund its upcoming Phase 2 trial, which is crucial for maintaining its cash runway, as it ended Q3 2025 with only $67 million in cash reserves [4]

Core Viewpoint - Corvus Pharmaceuticals, Inc. (CRVS) is experiencing significant stock price growth due to positive clinical trial results for its lead candidate, soquelitinib, and has a new price target set by Mizuho Securities indicating further potential upside [1][6]. Company Overview - Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company based in South San Francisco, focusing on innovative therapies for immune-related diseases [1]. Stock Performance - CRVS stock has surged by 209% over the past month following positive Phase I study results for soquelitinib, which showed a 72% reduction in the Eczema Area and Severity Index (EASI) [2][3]. - The current trading price of CRVS is $20.54, reflecting a 6.97% decrease today, with a market capitalization of approximately $1.53 billion [5]. Clinical Trial Results - The Phase I study for soquelitinib was a blinded, placebo-controlled trial involving patients who had previously undergone systemic therapy, confirming its potential as a "first-in-class" selective ITK inhibitor [4]. Financial Developments - Corvus Pharmaceuticals successfully closed an upsized public offering, raising approximately $201 million to support working capital, capital expenditures, and research and development, particularly for its Phase 3 T cell lymphoma program [3][6].

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Core Insights - Corvus Pharmaceuticals (CRVS) shares have surged 208.8% in one month following positive results from cohort 4 of an early-stage study of its lead candidate, soquelitinib, for moderate to severe atopic dermatitis [1][6] - The company’s stock has increased 394.9% over the past six months, significantly outperforming the industry growth of 21.7% [5] Company Overview - Soquelitinib, an investigational small molecule drug, is designed to selectively inhibit ITK, an enzyme crucial for T cell and natural killer cell immune function [2] - Corvus Pharmaceuticals' clinical pipeline is solely focused on soquelitinib, which is being developed for various immune diseases and cancer [2] Clinical Study Results - Cohort 4 of the Phase I study showed deeper and more durable clinical responses with an eight-week dosing period compared to previous four-week regimens, while maintaining a favorable safety profile [3][6] - Patients in cohort 4 experienced an average 72% reduction in Eczema Area and Severity Index (EASI) scores at day 56, compared to a 40% reduction with placebo [4][6] - No disease flares requiring intervention were reported in the soquelitinib group, indicating sustained disease control [4] Patient Population Insights - Approximately half of the cohort 4 participants had prior systemic therapies, including biologics and JAK inhibitors, yet responses to soquelitinib were consistent regardless of treatment history [7] - This suggests the drug's potential relevance across multiple lines of therapy [7] Biomarker and Safety Analysis - Biomarker analyses supported the proposed mechanism of action, with biological effects observed during treatment and persisting after dosing [8] - Safety data remained reassuring, with no new or unexpected adverse events, and no serious events reported [9] Future Plans - Based on the encouraging Phase I results, Corvus Pharmaceuticals plans to initiate a Phase II study of soquelitinib in atopic dermatitis in Q1 2026, enrolling about 200 patients [10][11] - The study will evaluate multiple oral dosing regimens alongside placebo over a 12-week treatment duration [11][13]

Core Viewpoint - Corvus Pharmaceuticals (CRVS) has seen a significant price increase of 208.9% over the past four weeks, with a mean price target of $28.83 suggesting a further upside potential of 25.3% from the current trading price of $23.01 [1] Price Targets and Analyst Estimates - The mean estimate consists of six short-term price targets with a standard deviation of $7.6, indicating variability among analysts; the lowest estimate is $20.00 (13.1% decline), while the highest is $42.00 (82.5% increase) [2] - A low standard deviation among price targets suggests a high degree of agreement among analysts regarding the stock's price movement direction, which can serve as a starting point for further research [9] Earnings Estimates and Analyst Sentiment - Analysts have shown increasing optimism about CRVS's earnings prospects, with a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [11] - The Zacks Consensus Estimate for the current year has risen by 3% over the past month, with one estimate increasing and no negative revisions [12] - CRVS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [13] Caution on Price Targets - While price targets are often sought after by investors, their reliability has been questioned; empirical research indicates that they may mislead rather than guide investment decisions [3][7] - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [8] - Investors should approach price targets with skepticism and not rely solely on them for investment decisions [10]

Market Overview - U.S. stock futures are lower, with Dow futures down approximately 0.1% on Monday [1] Revolution Medicines Inc - Shares of Revolution Medicines Inc (NASDAQ:RVMD) fell 26.1% to $87.02 in pre-market trading following reports that Merck (NYSE:MRK) is no longer in talks to acquire the company [1] Erasca Inc - Erasca Inc (NASDAQ:ERAS) experienced a decline of 11.5%, trading at $8.82 in pre-market after announcing the closing of an upsized public offering of common stock [2] BlackRock TCP Capital Corp - BlackRock TCP Capital Corp (NASDAQ:TCPC) saw a decrease of 8.7%, trading at $5.35 in pre-market [2] Ambitions Enterprise Management Co LLC - Ambitions Enterprise Management Co LLC (NASDAQ:AHMA) dipped 7.9% to $28.30 in pre-market trading after a 17% drop on Friday, despite reporting a year-over-year increase in H1 EPS results [2] Regencell Bioscience Holdings Ltd - Regencell Bioscience Holdings Ltd (NASDAQ:RGC) fell 6% to $29.52 in pre-market trading after a 2% gain on Friday [2] Sierra Bancorp - Sierra Bancorp (NASDAQ:BSRR) declined 5.8% to $33.02 in pre-market trading [2] Forward Industries Inc - Forward Industries Inc (NASDAQ:FWDI) declined 4.6% to $7.46 in pre-market trading [2] Argo Blockchain PLC - Argo Blockchain PLC – ADR (NASDAQ:ARBK) fell 3.8% to $4.20 in pre-market trading [2] MINISO Group Holding Ltd - MINISO Group Holding Ltd – ADR (NYSE:MNSO) declined 3.6% to $19.12 in pre-market trading [2] Corvus Pharmaceuticals Inc - Corvus Pharmaceuticals Inc (NASDAQ:CRVS) fell 3.2% to $24.17 in pre-market trading after announcing the closing of an upsized public offering of common stock, generating gross proceeds of approximately $201 million [2]

Core Insights - Corvus Pharmaceuticals Inc. (NASDAQ:CRVS) experienced a significant stock price increase of 211.8% week-on-week, reaching an all-time high due to positive clinical trial results for its drug candidate soquelitinib in treating moderate to severe eczema [1][3]. Group 1: Clinical Trial Results - The Phase 1 trial of soquelitinib showed a 72% reduction in eczema severity among patients, compared to a 40% reduction in the placebo group [3]. - The therapy was noted to be more effective with prolonged use and was well-tolerated by patients [3]. Group 2: Future Plans - Corvus Pharmaceuticals plans to initiate a Phase 2 trial in Q1 2026, targeting 200 patients with moderate-to-severe atopic dermatitis who have not responded to previous treatments [4]. - The Phase 2 trial will consist of four cohorts of 50 patients each, testing different dosages of soquelitinib alongside a placebo group, and is expected to last 12 weeks with a 30-day follow-up [4]. Group 3: Market Reaction - On a single trading day, the stock peaked at $26.95 before closing at $25.10, reflecting a decline of 1.65% from its peak [2].

Group 1 - Corvus Pharmaceuticals, Inc. has completed an upsized underwritten public offering of 9,085,778 shares at a price of $22.15 per share, resulting in gross proceeds of approximately $201.2 million before deductions [1][2] - The net proceeds from the offering are expected to be used for working capital and general corporate purposes, including capital expenditures and research and development for various clinical trials [2] - Jefferies and Goldman Sachs & Co. LLC served as lead book-running managers for the offering, with Mizuho as bookrunner and Ladenburg Thalmann as co-manager [3] Group 2 - A shelf registration statement related to the securities sold in this offering was declared effective by the SEC on August 15, 2024, and a related registration statement was filed on January 21, 2026 [4] - The offering was made only by means of a prospectus supplement and accompanying prospectus, which are available on the SEC's website [4] Group 3 - Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing ITK inhibition as a new approach to immunotherapy for various immune diseases and cancer [6] - The company's lead product candidate, soquelitinib, is being evaluated in a Phase 3 clinical trial for relapsed/refractory PTCL and in a Phase 1 clinical trial for atopic dermatitis [6]