Financial Data and Key Metrics Changes - As of December 31, 2021, the company had cash, cash equivalents, and marketable securities totaling $69.5 million, an increase from $44.3 million at the end of 2020 [6] - Research and development expenses for Q4 2021 were $4.8 million, down from $7.2 million in Q4 2020, primarily due to decreased clinical trial and personnel costs [6] - The net loss for Q4 2021 was $9.2 million, compared to a net income of $27.3 million in Q4 2020, which included a non-cash net benefit of $37.2 million from the establishment of Angel Pharmaceuticals [7][8] - The net loss for the full year 2021 was $43.2 million, compared to a net loss of $6 million for 2020 [8] - Total stock compensation expense for Q4 2021 was $0.7 million, down from $1.2 million in Q4 2020 [9] Business Line Data and Key Metrics Changes - The company is advancing three clinical programs: mupadolimab for lung cancer, CPI-818 for T-cell lymphomas, and ciforadenant for renal cell cancer [10][30] - Mupadolimab is being developed for lung cancer and is expected to enter a randomized blinded Phase 2 study in the third quarter of 2022 [18][19] - CPI-818 is being studied for T-cell lymphomas, with initial antitumor activity confirmed in clinical trials [24][30] - Ciforadenant is positioned for clinical evaluation in first-line renal cell cancer, with a Phase 2 trial planned to begin in late April 2022 [28][30] Market Data and Key Metrics Changes - There is heightened interest in antibodies targeting CD73, particularly following recent data from AstraZeneca's trials in lung cancer [11][12] - The company aims to leverage its differentiated antibody, mupadolimab, in a competitive landscape where several companies are pursuing anti-CD73 agents [12] Company Strategy and Development Direction - The company plans to advance its clinical programs into earlier lines of therapy and mid to later stage clinical trials [10] - There is a focus on combining mupadolimab with checkpoint blockade therapies to enhance immunotherapy for cancer [17] - The company is exploring partnering opportunities to expand the development scope of mupadolimab [29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the therapeutic potential of their product candidates, particularly in the context of emerging data supporting B-cell activation in the tumor microenvironment [15][16] - The company is well-positioned with a solid balance sheet to execute on its clinical programs through key milestones over the next couple of years [31] Other Important Information - The company expects full-year 2022 net cash used in operating activities to be between $34 million and $36 million [9] Q&A Session Summary Question: Why is the company opting for a Phase 2 trial instead of a Phase 2/3 for the lung cancer study? - Management explained that a randomized blinded Phase 2 trial allows for more flexibility in evaluating data and efficacy along the way, with a Phase 3 trial ready to commence if positive signals are observed [33][34] Question: What is the status of the expansion cohorts for mupadolimab? - Management confirmed that enrollment for the head and neck cancer indication is progressing well, with data expected later this year [39] Question: How will the Adenosine Gene Signature biomarker be incorporated into the Kidney Clinical Trial Consortium Phase 2? - The biomarker will be measured in the study, but patients will not be excluded based on their status, allowing for comprehensive data collection [49]

Table of Contents Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, Par Value $0.0001 per share CRVS Nasdaq Global Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Corvus Pharmaceuticals, Inc. ...

Table of Contents- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Corvus Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 001-37719 46-4670809 (State or other jurisdiction of incorporation) (Comm ...

Table of Contents- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Corvus Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 001-37719 46-4670809 (State or other jurisdiction of incorporation) (Commissio ...

Table of Contents- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Corvus Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 001-37719 46-4670809 (State or other jurisdiction of incorporation) (Commissi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Corvus Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 001-37719 (State or other jurisdiction of incorporation) (Commission File Number) | ...

Corvus Corporate Presentation February 2021 An immunology focused company developing drugs and antibodies that target the most critical cellular elements of the immune system Forward-Looking Statements / Safe Harbor 2 This presentation and the accompanying oral presentation contain "forward‐looking" statements, including statements related to the potential safety and efficacy of ciforadenant, CPI-006, CPI-818, the Company's ability to develop and advance product candidates into and successfully complete pre ...

Table of Contents- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Corvus Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 001-37719 46-4670809 (State or other jurisdiction of incorporation) (Comm ...

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Q2 2020 Earnings Conference Call July 30, 2020 4:30 PM ET Company Participants Zack Kubow - Investor Relations, Pure Communications Leiv Lea - Chief Financial Officer Richard Miller - Chief Executive Officer Mehrdad Mobasher - Chief Medical Officer Conference Call Participants Mara Goldstein - Mizuho Tony Butler - ROTH Capital Partners Arthur He - H.C. Wainwright Operator Thank you for standing by. This is the conference operator. Welcome to the Corvus Pharmaceutic ...

PART I — FINANCIAL INFORMATION [Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Corvus Pharmaceuticals presents unaudited condensed consolidated financial statements, reporting a **$10.6 million net loss** for Q2 2020, an **accumulated deficit of $240.7 million**, and a decrease in total assets to **$64.2 million** [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $20,705 | $5,154 | | Marketable securities | $38,553 | $72,828 | | **Total current assets** | **$60,561** | **$79,344** | | **Total assets** | **$64,177** | **$83,646** | | Total current liabilities | $11,553 | $10,225 | | **Total liabilities** | **$13,337** | **$12,535** | | Accumulated deficit | ($240,691) | ($217,145) | | **Total stockholders' equity** | **$50,840** | **$71,111** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Statement of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | Research and development | $7,857 | $10,640 | $18,020 | $20,059 | | General and administrative | $2,910 | $2,956 | $6,016 | $5,842 | | **Total operating expenses** | **$10,767** | **$13,596** | **$24,036** | **$25,901** | | **Net loss** | **($10,611)** | **($12,978)** | **($23,546)** | **($24,621)** | | Net loss per share | ($0.36) | ($0.44) | ($0.80) | ($0.84) | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) - Total stockholders' equity decreased from **$71.1 million** at December 31, 2019, to **$50.8 million** at June 30, 2020, primarily due to a **$23.5 million net loss** for the six-month period, partially offset by **$3.2 million** in stock-based compensation expense[14](index=14&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2020 | 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | ($18,839) | ($18,204) | | Net cash provided by investing activities | $34,367 | $9,185 | | Net cash provided by financing activities | $23 | $6 | | **Net increase (decrease) in cash** | **$15,551** | **($9,013)** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The company, a clinical-stage biopharmaceutical firm, has incurred significant losses since its 2014 inception, with an **accumulated deficit of $240.7 million** as of June 30, 2020[22](index=22&type=chunk)[26](index=26&type=chunk) - As of June 30, 2020, the company held **$59.3 million** in cash, cash equivalents, and short-term marketable securities, which management believes are sufficient to support planned operations for at least the next 12 months[29](index=29&type=chunk)[34](index=34&type=chunk) - Key license and collaboration agreements with Vernalis, Scripps, Genentech, and Monash University involve potential future milestone and royalty payments[52](index=52&type=chunk)[56](index=56&type=chunk)[59](index=59&type=chunk) - In March 2020, an at-the-market (ATM) equity offering program was established with Jefferies to sell up to **$50 million** of common stock, though no shares had been sold as of June 30, 2020[69](index=69&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reviews the company's clinical-stage biopharmaceutical pipeline, reporting a **$23.5 million net loss** for H1 2020 and an **accumulated deficit of $240.7 million**, with **$59.3 million** in cash deemed sufficient for the next 12 months despite COVID-19 risks [Overview and Product Pipeline](index=26&type=section&id=Overview%20and%20Product%20Pipeline) - Corvus is a clinical-stage biopharmaceutical company with three main product candidates in clinical trials[89](index=89&type=chunk)[90](index=90&type=chunk) - **Ciforadenant (A2A receptor antagonist):** In a Phase 2 expansion protocol for advanced renal cell cancer (RCC) and metastatic castration-resistant prostate cancer (mCRPC)[91](index=91&type=chunk)[103](index=103&type=chunk) - **CPI-006 (anti-CD73 antibody):** In a Phase 1/1b trial for various cancers and a separate Phase 1 trial for patients with COVID-19[91](index=91&type=chunk)[109](index=109&type=chunk)[113](index=113&type=chunk) - **CPI-818 (ITK inhibitor):** In a Phase 1/1b trial for patients with T-cell lymphomas[91](index=91&type=chunk)[120](index=120&type=chunk) [Results of Operations](index=38&type=section&id=Results%20of%20Operations) Comparison of Operating Results (in thousands) | Period | Research & Development | General & Administrative | Net Loss | | :--- | :--- | :--- | :--- | | **Q2 2020** | $7,857 | $2,910 | ($10,611) | | **Q2 2019** | $10,640 | $2,956 | ($12,978) | | **Change** | **($2,783)** | **($46)** | **$2,367** | | **H1 2020** | $18,020 | $6,016 | ($23,546) | | **H1 2019** | $20,059 | $5,842 | ($24,621) | | **Change** | **($2,039)** | **$174** | **$1,075** | - The decrease in R&D expenses for Q2 2020 compared to Q2 2019 was primarily driven by reduced costs for the ciforadenant program (**$0.8 million decrease**) and the CPI-818 program (**$0.7 million decrease**)[137](index=137&type=chunk)[138](index=138&type=chunk)[143](index=143&type=chunk) - Interest income decreased by **$0.5 million** in Q2 2020 compared to Q2 2019, due to lower cash and marketable securities balances and a decline in interest rates[150](index=150&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) - As of June 30, 2020, the company had **$59.3 million** in cash, cash equivalents, and marketable securities, with an **accumulated deficit of $240.7 million**[153](index=153&type=chunk) - Management believes current capital resources are sufficient to fund planned operations for at least the next twelve months[157](index=157&type=chunk) - In March 2020, an at-the-market (ATM) sales agreement was established to sell up to **$50 million** of common stock, but no proceeds had been received as of June 30, 2020[156](index=156&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate exposure on its **$59.3 million** cash and investment portfolio, which management deems low-risk and not materially impacted by a hypothetical 10% interest rate increase - The company's main market risk is interest rate risk on its cash and investment portfolio[171](index=171&type=chunk) - The investment portfolio, consisting of bank deposits, money market funds, U.S. Treasury and government agency securities, and corporate debt, is considered low-risk with a short-term duration[171](index=171&type=chunk) [Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2020, with no material changes in internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective as of the end of the period covered by the report[175](index=175&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, these controls[176](index=176&type=chunk) PART II — OTHER INFORMATION [Legal Proceedings](index=48&type=section&id=Item%201.%20Legal%20Proceedings) Corvus Pharmaceuticals is not currently involved in any material litigation or legal proceedings - As of the filing date, Corvus Pharmaceuticals is not involved in any material legal proceedings[179](index=179&type=chunk) [Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including limited operating history, substantial financing needs, COVID-19 impact, early-stage product development failures, reliance on third parties, commercialization challenges, intellectual property issues, and stock price volatility [Risks Related to Financial Condition and Capital Requirements](index=48&type=section&id=Risks%20Related%20to%20Our%20Limited%20Operating%20History,%20Financial%20Condition%20and%20Capital%20Requirements) - The company has a limited operating history, has incurred significant losses since its 2014 inception (**accumulated deficit of $240.7 million** as of June 30, 2020), and expects losses to continue[181](index=181&type=chunk)[182](index=182&type=chunk) - Substantial additional financing is required to achieve goals, and failure to obtain it could force delays or termination of development programs[183](index=183&type=chunk)[184](index=184&type=chunk) - The COVID-19 pandemic poses significant risks that could adversely impact business, clinical trials, and financial condition, including enrollment delays and supply chain interruptions[191](index=191&type=chunk)[192](index=192&type=chunk) [Risks Related to Discovery and Development](index=52&type=section&id=Risks%20Related%20to%20the%20Discovery%20and%20Development%20of%20Our%20Product%20Candidates) - Product candidates are in early stages of development and may fail or suffer delays, which would materially harm the business[197](index=197&type=chunk)[198](index=198&type=chunk) - Clinical drug development is a lengthy, expensive, and uncertain process; results from early trials are not necessarily predictive of future results[205](index=205&type=chunk)[206](index=206&type=chunk) - Interim and preliminary data from clinical trials may change as more patient data becomes available, potentially resulting in material changes in final data[221](index=221&type=chunk)[222](index=222&type=chunk) [Risks Related to Reliance on Third Parties](index=70&type=section&id=Risks%20Related%20to%20Our%20Reliance%20on%20Third%20Parties) - The company relies on third parties, such as CROs and medical institutions, to conduct its clinical trials, and their poor performance could delay or derail development programs[257](index=257&type=chunk)[258](index=258&type=chunk) - The company lacks internal manufacturing capabilities and is dependent on contract manufacturers, who are subject to significant cGMP regulations and potential supply disruptions[266](index=266&type=chunk)[267](index=267&type=chunk) - Reliance on third parties requires sharing trade secrets, which increases the risk of misappropriation or disclosure[275](index=275&type=chunk)[276](index=276&type=chunk) [Risks Related to Commercialization](index=75&type=section&id=Risks%20Related%20to%20Commercialization%20of%20Our%20Product%20Candidates) - Successful commercialization depends on many factors, including regulatory approval, manufacturing scale-up, market acceptance, and competition[279](index=279&type=chunk)[280](index=280&type=chunk) - Failure to obtain or maintain adequate coverage and reimbursement from government and private payors could limit the ability to market products and generate revenue[300](index=300&type=chunk)[301](index=301&type=chunk) - The company faces intense competition from larger, better-funded pharmaceutical and biotech companies with more resources and established products[330](index=330&type=chunk)[331](index=331&type=chunk)[333](index=333&type=chunk) [Risks Related to Intellectual Property](index=103&type=section&id=Risks%20Related%20to%20Our%20Intellectual%20Property) - The company relies on license agreements for key product candidates like ciforadenant and CPI-006, and failure to comply could result in the loss of rights[392](index=392&type=chunk)[393](index=393&type=chunk) - The company's success depends on its ability to obtain and maintain patent protection and protect trade secrets, which is an uncertain, expensive, and time-consuming process[398](index=398&type=chunk)[403](index=403&type=chunk) - The company may be involved in costly and unsuccessful lawsuits to protect its patents or defend against claims of infringement on others' proprietary rights[406](index=406&type=chunk)[413](index=413&type=chunk) [Risks Related to Common Stock](index=118&type=section&id=Risks%20Related%20to%20Our%20Common%20Stock) - The trading price of the company's common stock has been and could continue to be highly volatile[448](index=448&type=chunk) - As of June 30, 2020, executive officers, directors, and stockholders with over 5% ownership collectively held approximately **63%** of the voting stock, giving them significant control over corporate matters[453](index=453&type=chunk)[454](index=454&type=chunk) - The company is an 'emerging growth company' and its use of reduced reporting requirements may make its common stock less attractive to some investors[461](index=461&type=chunk)[462](index=462&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=128&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the reporting period - There were no unregistered sales of equity securities in the quarter[478](index=478&type=chunk) [Defaults Upon Senior Securities](index=130&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon its senior securities - None[480](index=480&type=chunk) [Mine Safety Disclosures](index=130&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not applicable[480](index=480&type=chunk) [Other Information](index=130&type=section&id=Item%205.%20Other%20Information) No other information required for disclosure in this section was reported - None[480](index=480&type=chunk) [Exhibits](index=131&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents and required CEO/CFO certifications - The report includes a list of all exhibits filed, including corporate governance documents and required CEO/CFO certifications[483](index=483&type=chunk)