Adds to growing body of evidence supporting the potential of ITK inhibition as a novel therapeutic for the treatment of a wide range of immune diseases Data will be presented in a poster at ACR Convergence 2024, the annual meeting of the American College of Rheumatology BURLINGAME, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, today announced new preclinical data highlighting the potential of soquelitinib, the Company’s lea ...

Live Chat on The Biotech Forum has been dominated by discussion of lucrative buy-write or covered call opportunities on selected biotech stocks over the past several months. To see what I and the other season biotech investors are targeting as trading ideas real-time, just join our community at The Biotech Forum by clicking HERE .Today, we are putting Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS ) in the spotlight. As you can see, the shares of this clinical stage biopharmaceutical company have soared in rece ...

Financial Data and Key Metrics Changes - Research and development expenses increased to $5.2 million in Q3 2024 from $4 million in Q3 2023, primarily due to higher clinical trial expenses for soquelitinib [7] - The net loss for Q3 2024 was $40.2 million, significantly higher than the net loss of $6 million in Q3 2023, which included a noncash loss from Angel Pharmaceuticals [7] - Cash, cash equivalents, and marketable securities totaled $41.7 million as of September 30, 2024, compared to $27.1 million at the end of 2023 [8] - The company anticipates that its cash runway extends into 2026, aided by the early exercise of common stock warrants [9] Business Line Data and Key Metrics Changes - Soquelitinib is advancing in multiple clinical trials, including a Phase III trial for peripheral T-cell lymphoma (PTCL) and a Phase I trial for atopic dermatitis [10][19] - The Phase I trial for atopic dermatitis is designed to enroll 64 patients, with the first cohort already completed and the second cohort currently enrolling [12][14] - The objective response rate for the Phase III PTCL trial remains at 39%, with a median progression-free survival (PFS) of 6.2 months [22] Market Data and Key Metrics Changes - The FDA has granted orphan drug designation and Fast Track designation for soquelitinib for the treatment of relapsed T-cell lymphoma [19] - The company is enrolling patients at multiple clinical sites for the PTCL trial, aiming for 40 to 50 centers across the U.S., Australia, Canada, and South Korea [20] Company Strategy and Development Direction - The company is focusing on advancing soquelitinib for both oncology and autoimmune diseases, with plans to initiate a solid tumor trial in early 2025 [23][28] - There is a strong emphasis on the potential of soquelitinib in treating a broad range of immune diseases and cancers, supported by preclinical data [18] - The company is also developing second- and third-generation ITK inhibitors targeting various immunology indications, including asthma and inflammatory bowel disease [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress of the atopic dermatitis trial and the potential advantages of soquelitinib, including its oral administration and safety profile [18] - The company plans to present complete data from the atopic dermatitis trial in December and anticipates further data in early 2025 [28] - Management highlighted the importance of the upcoming clinical milestones and the potential for ITK inhibition in immunology and cancer [29] Other Important Information - The company is actively monitoring patients in ongoing trials and has reported sustained responses in several patients [21] - The mechanism of action of soquelitinib is believed to induce an immune response that can handle a broad spectrum of tumors, potentially reducing the emergence of resistance [46] Q&A Session Summary Question: Can you comment on the kinetics of ITK inhibition on clinical scores in atopic dermatitis? - Management noted that improvements are observed within the first week, with expectations for durable effects based on the drug's mechanism of action [32] Question: What is the follow-up time period for the cohorts in the atopic dermatitis trial? - Management confirmed that 28-day data will be reported in December, with complete follow-up for Cohort 1 and partial follow-up for Cohort 2 [36] Question: What is the typical prior therapy for patients enrolled in the atopic dermatitis trial? - Most patients have failed topical therapies, with some not having failed systemic therapies yet [42] Question: How does the company plan to differentiate dosing between oncology and autoimmune diseases? - Management indicated that continuous treatment may not be necessary for atopic dermatitis, unlike cancer treatments [52] Question: What are the criteria for success in the Phase III PTCL trial? - The statistical plan aims for a 1.5-month improvement in PFS over the control arm, with a hazard ratio of about 0.56 [61]

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 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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition ...

EXHIBIT 99.1 Corvus Pharmaceuticals Provides Business Update and Reports Third Quarter 2024 Financial Results Soquelitinib Atopic Dermatitis Phase 1 Clinical Trial Enrolling Patients in Second Dosing Cohort Interim Data from Atopic Dermatitis Trial Expected to be Announced December 2024 Registration Phase 3 Clinical Trial of Soquelitinib in Peripheral T Cell Lymphoma (PTCL) Enrolling with Multiple Clinical Sites Open Conference call today at 4:30 p.m. ET / 1:30 p.m. PT BURLINGAME, Calif., Nov. 12, 2024 (GLO ...

Soquelitinib Atopic Dermatitis Phase 1 Clinical Trial Enrolling Patients in Second Dosing Cohort Interim Data from Atopic Dermatitis Trial Expected to be Announced December 2024 Registration Phase 3 Clinical Trial of Soquelitinib in Peripheral T Cell Lymphoma (PTCL) Enrolling with Multiple Clinical Sites Open Conference call today at 4:30 p.m. ET / 1:30 p.m. PT BURLINGAME, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (Corvus or the Company) (Nasdaq: CRVS), a clinical-stage biopharm ...

BURLINGAME, Calif., Nov. 09, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, today announced new data highlighting the potential of ciforadenant, the Company’s adenosine A2A receptor antagonist, to overcome resistance to anti-PD1 immunotherapy in the treatment of metastatic castration resistant prostate cancer (mCRPC). The data were presented today in an oral session at the Society for Immunotherapy of Cancer (SITC) 39th Annual Meeting by Ara ...

BURLINGAME, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, today announced that the company will host a conference call and webcast on November 12, 2024 at 4:30 pm ET (1:30 pm PT) to provide a business update and report third quarter 2024 financial results. The conference call can be accessed by dialing 1-800-717-1738 (toll-free domestic) or 1-646-307-1865 (international) or by clicking on this link for instant telephone acc ...

Shares of Corvus Pharmaceuticals (CRVS) gained 13.9% on Sept. 10 after the company announced the initiation of a phase III registrational study of its lead product candidate, soquelitinib, to treat patients with relapsed/refractory peripheral T-cell lymphoma (PTCL). Corvus' soquelitinib is an investigational, oral, small-molecule drug that selectively inhibits interleukin-2 inducible T-cell kinase (ITK), a protein tyrosine kinase that plays a role in T-cell development and differentiation. The company belie ...

Soquelitinib is a potential first-in-class ITK inhibitor with broad potential in cancer and immune diseases There are currently no fully approved agents for the treatment of relapsed PTCL and soquelitinib has been granted Orphan Drug Designation and Fast Track Designation by the FDA BURLINGAME, Calif., Sept. 10, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, today announced that it has initiated a registrational Phase 3 clinical trial of soq ...