Market Overview - U.S. stocks experienced a decline, with the Nasdaq Composite falling 1.5% amid President Trump's tariff threats related to the Greenland dispute [1] - The Dow decreased by 1.17% to 48,780.92, while the S&P 500 dropped 1.32% to 6,848.33 [1] - European shares also fell, with the eurozone's STOXX 600 down 0.92% and major indices in Spain, London, Germany, and France experiencing declines [8] Company Earnings - D.R. Horton, Inc. reported net income of $594.8 million, or $2.03 per diluted share, for Q1 of fiscal 2026, down from $844.9 million, or $2.61 per diluted share, in the same quarter last year [3] - Revenue for D.R. Horton was $6.887 billion, a decrease from $7.613 billion year-over-year, but exceeded the consensus estimate of $6.603 billion [4] Stock Movements - Rapt Therapeutics Inc shares surged 64% to $57.52 following GSK's announcement of an acquisition [9] - Corvus Pharmaceuticals Inc shares increased by 107% to $16.66 after positive clinical trial results [9] - Immunitybio Inc shares rose 23% to $6.78 after a meeting with the FDA regarding its application for a cancer treatment [9] - Bakkt Holdings Inc shares fell 19% to $17.42 after announcing a $300 million ATM equity program [9] - NovaBay Pharmaceuticals Inc shares dropped 45% to $8.07 following a stock offering announcement [9] - Synlogic Inc shares decreased by 38% to $0.70 after receiving a Nasdaq delisting notification [9] Commodities - Oil prices increased by 2% to $60.62, while gold rose by 3.6% to $4,759.30 [7] - Silver saw a significant increase of 7.1% to $94.845, whereas copper fell by 0.8% to $5.7845 [7]

Market Overview - U.S. stock markets experienced a sharp decline, with the Dow Jones Industrial Average dropping approximately 700 points (about 1.5%), the S&P 500 losing around 1.4%, and the Nasdaq Composite sliding nearly 1.7%, indicating a broad sell-off across Wall Street [1][17] - The Cboe Volatility Index rose above 20, its highest level since late November, reflecting increased market fear and risk aversion [1] Tariff Announcement Impact - President Trump's announcement of escalating tariffs on imports from eight NATO countries, including Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands, and Finland, triggered the market sell-off, with tariffs starting at 10% on February 1 and potentially rising to 25% by June 1 if no agreement is reached [4][19] - The announcement included a warning of 200% tariffs on French wines and champagne due to diplomatic tensions with France, further escalating investor concerns [5] Geopolitical Concerns - Geopolitical tensions, particularly in the Middle East regarding Iran's internal unrest and strained relations with Israel, contributed to global risk concerns, affecting investor sentiment [2][14] - Iran's protests and potential military responses to U.S. or Israeli actions have raised fears of regional conflict, which could impact global energy markets and crude oil prices [15][22] Corporate Earnings and Market Sentiment - The earnings season is unfolding, with S&P 500 earnings growth expected to be between 12-15%, which could provide support if broader economic signals remain stable [3] - Technology stocks, particularly Nvidia, AMD, and Alphabet, faced significant declines of over 2% due to rising bond yields, which can increase borrowing costs and reduce future profit valuations [10][19] Safe-Haven Assets - As a result of the market turmoil, precious metals like gold and silver surged due to increased safe-haven demand, with gold trading near record highs [2][11]

Corvus Pharmaceuticals Conference Call Summary Company Overview - **Company**: Corvus Pharmaceuticals (NasdaqGM:CRVS) - **Date**: January 20, 2026 - **Key Executives Present**: Dr. Richard Miller (CEO), Leif Lea (CFO), Jeff Arcara (CBO), Dr. Ben Jones (SVP, Pharmaceutical Development), Dr. Suresh Mahabhashyam (VP, Clinical Development) [2][3] Core Industry and Product Focus - **Industry**: Pharmaceuticals, specifically focusing on immune diseases and atopic dermatitis - **Product**: Socalitinib, a first-in-class oral drug targeting interleukin-2 inducible T-cell kinase (ITK) [4][39] Key Findings and Data from Clinical Trials - **Phase I Clinical Trial Results**: - Socalitinib shows potential as a leading therapy for atopic dermatitis, achieving significant clinical results [5][6] - Efficacy metrics: - EASI 75: 75% of patients - EASI 90: 25% of patients - IGA 0/1: 33% of patients - Mean percent reduction in EASI score: 72% at eight weeks [6][24] - Responses are durable, with continued reduction in EASI scores post-treatment [6][21] - **Cohort 4 Specifics**: - 24 patients enrolled with a one-to-one randomization of active versus placebo - Treatment duration extended to eight weeks, confirming positive results from earlier cohorts [18][24] - EASI score reduction: 72% for Socalitinib vs. 40% for placebo, p-value of 0.035 [24][26] - **Prior Systemic Therapy**: - 35% of all patients had prior therapies, with 50% in cohort 4 - Socalitinib demonstrated efficacy in patients with prior systemic therapy, indicating no resistance [27][30] Mechanism of Action - Socalitinib selectively inhibits ITK, leading to a rebalancing of the immune system without causing immunosuppression [9][10] - Induction of T regulatory cells (Tregs) contributes to durable suppression of inflammation [21][30] Market Opportunity - Over 3 million patients with moderate to severe atopic dermatitis, with a significant unmet need for safe and effective oral therapies [15][38] - The market for atopic dermatitis is projected to grow to $170 billion by 2030, with oral agents expected to gain a larger share [38] Future Plans - Initiation of a phase 2 randomized placebo-controlled trial in atopic dermatitis, planned to enroll 200 patients [37][39] - Exploration of Socalitinib's efficacy in other immune diseases, including hidradenitis suppurativa and asthma [39] Safety Profile - No new safety signals observed in cohort 4; adverse events (AEs) were similar between active and placebo groups [31][55] - Historical data from lymphoma studies indicate a strong safety profile, with no patients discontinuing due to safety concerns [54][55] Conclusion - Socalitinib is positioned as a promising treatment for atopic dermatitis and potentially other immune diseases, with a strong clinical efficacy and safety profile [39][40]

Cohort 4 data demonstrated positive safety and efficacy results, including additional clinical benefit observed following longer 8-week treatment 75% of soquelitinib patients achieved EASI 75, 25% achieved EASI 90 and 33% achieved IGA 0/1 Cohort 1-4 have demonstrated positive safety and efficacy results in patients who have received prior systemic therapy including patients who are treatment resistant Company to host conference call and webcast today at 8:00 am ET / 5:00 am PT SOUTH SAN FRANCISCO, Calif., ...

Company to host conference call and webcast on Tuesday, January 20, 2026 at 8:00 am ET / 5:00 am PTSOUTH SAN FRANCISCO, Calif., Jan. 16, 2026 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, announced that it will host a conference call and webcast on Tuesday, January 20, 2026 at 8:00 am ET (5:00 am PT) to report the results from cohort 4 of the randomized, blinded, placebo-controlled Phase 1 clinical trial evaluating soquelitinib in patients with ...

SOUTH SAN FRANCISCO, Calif., Jan. 05, 2026 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, confirms the planned announcement of the results from cohort 4 of the randomized, blinded, placebo-controlled Phase 1 clinical trial evaluating soquelitinib in patients with moderate to severe atopic dermatitis in the second half of January 2026. Given the proximity to our upcoming data, we are cancelling all previously planned conference attendances, includ ...

Core Insights - Biotech companies experienced significant gains in after-hours trading, driven by investor interest despite limited news catalysts [1] Company Updates - GH Research PLC (GHRS) saw the largest increase, rising 22.36% to $16.20 ahead of a key update on its Investigational New Drug Application (IND) for GH001 with the FDA, scheduled for January 5, 2026 [2] - Phathom Pharmaceuticals, Inc. (PHAT) increased by 5.03% to $16.50, with the rise attributed to investor positioning rather than new announcements [3] - Forte Biosciences, Inc. (FBRX) gained 3.56%, closing at $24.45, continuing its upward trend in the biotech sector without any new updates [3] - OKYO Pharma Limited (OKYO) advanced 5.38% to $2.35, influenced by prior disclosures regarding share acquisitions by its Executive Chairman [4] - Zai Lab Limited (ZLAB) rose 5.60% to $18.30, reflecting ongoing investor interest in international biotech firms [5] - LifeMD, Inc. (LFMD) added 3.15% to $3.60, with no corporate updates released [5] - Werewolf Therapeutics, Inc. (HOWL) climbed 3.58% to $0.67, indicating speculative interest in smaller-cap biotech stocks [6] - Corvus Pharmaceuticals, Inc. (CRVS) increased by 7.24% to $7.85, extending its upward momentum without any new announcements [6]

Core Insights - Corvus Pharmaceuticals presented final data from its Phase 1/1b trial of soquelitinib for T cell lymphoma, showing promising median progression-free survival (PFS) of 6.2 months and median overall survival (OS) of 28.1 months, indicating potential as a new treatment option [1][2][5] Group 1: Clinical Trial Results - The Phase 1 trial enrolled 75 patients with various T cell lymphomas, with a median of 3 prior therapies, and only 31% achieving an objective response to their last therapy [2][4] - In the 200 mg twice-daily cohort, 6 patients achieved complete responses, with an objective response rate of 37.5% among those with 1 to 3 prior therapies [4] - The trial demonstrated no dose-limiting toxicities or significant adverse events, indicating a favorable safety profile for soquelitinib [4] Group 2: Mechanism of Action - Soquelitinib operates through ITK inhibition, affecting T cell receptor signaling and promoting Th1 differentiation while blocking Th2 and Th17 pathways [3][8] - Biomarker studies showed an increase in Th1 cells and a reduction in IL-5, supporting the drug's immunological effects [9] Group 3: Future Development Plans - The company is advancing soquelitinib into a registration Phase 3 trial for relapsed/refractory peripheral T cell lymphoma (PTCL), with plans to enroll 150 patients [5][11] - Corvus is also exploring soquelitinib's potential in atopic dermatitis and other immune and inflammatory diseases, with additional data expected in early 2026 [5][7]

Summary of Corvus Pharmaceuticals FY Conference Call Company Overview - **Company**: Corvus Pharmaceuticals (NasdaqGM:CRVS) - **Focus**: Development of first-in-class immune modulators for cancer and immune diseases - **Lead Program**: Soquelitinib, an oral targeted therapy inhibiting ITK (interleukin-2-inducible T-cell kinase) [2][3] Key Points and Arguments Clinical Trials and Data - **Current Trials**: - Phase III trial for peripheral T-cell lymphoma (PTCL) - Phase IB trial and upcoming Phase II trial for moderate to severe atopic dermatitis (AD) [2] - **Phase I Data**: - 28-day data shows safety profile similar to placebo - Efficacy demonstrated with a statistical separation from placebo at p=0.036 [5] - Observed potential remissive effect with continued separation of treatment curves after stopping at 28 days [5][10] - **Cohort Four**: - Same dose as cohort three (200 mg b.i.d.) - Focus on 56 days of efficacy to assess incremental benefits [9][11] Biomarkers and Mechanism - **Mechanism**: - Targets TH2 and TH17 pathways, blocking cytokines like IL-4 and IL-17, which are relevant for AD [4] - **Biomarkers**: - Increased Tregs and decreased IL-5, IL-17, and IL-31 observed in clinical trials [7] - Plans for skin biopsies in Phase II trial to further assess biomarkers [7][32] Market Opportunity - **Atopic Dermatitis (AD)**: - High unmet need for safe and effective oral therapies - Each 1% market share in AD equates to $1 billion; significant opportunity with only 15% penetration of advanced therapies [26] - **Asthma Study**: - Planned study for asthma, another TH2-driven disease, targeting a market of 60 million patients [27][28] Competitive Landscape - **Differentiation**: - First-in-class selective ITK inhibitor with oral administration preferred by patients - Limited competition in the oral space, with most alternatives being injectables [34][35] - **Partnerships**: - Collaboration with Angelini Pharma for a Phase II AD trial in China [39] Financials - **Cash Position**: - As of September 30, the company has $65 million in cash, providing runway through Q4 2026 [41] Additional Considerations - **Future Trials**: - Phase II study design includes multiple arms and aims to stratify by prior systemic therapies [19][22] - **Data Reporting**: - Upcoming data expected in January, including efficacy and biomarker results [33] This summary encapsulates the critical insights from the conference call, highlighting Corvus Pharmaceuticals' strategic focus, clinical advancements, market potential, and financial health.

Core Insights - The article discusses Corvus Pharmaceuticals, Inc. (CRVS) and its stock performance, highlighting a significant rally that occurred nearly a year ago [1]. Group 1: Company Overview - Corvus Pharmaceuticals, Inc. is being revisited after a substantial period, indicating a renewed interest in the company's stock performance [1]. - The company is part of a broader discussion on biotech stocks, which are characterized by high volatility and potential for large returns [1]. Group 2: Analyst Background - Bret Jensen, a market analyst with over 13 years of experience, specializes in identifying high-potential biotech investments [1]. - Jensen leads The Biotech Forum, which offers a model portfolio of 12-20 biotech stocks with high upside potential, along with live discussions and weekly updates [1].