Soquelitinib advancing towards initial enrollment for registrational Phase 3 clinical trial for PTCL and randomized Phase 1 clinical trial for atopic dermatitis Orphan drug designation and new interim data from Phase 1/1b clinical trial further demonstrate soquelitinib's potential to address the need for new treatments for PTCL   Conference call today at 4:30 p.m. ET / 1:30 p.m. PT BURLINGAME, Calif., March 19, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (Corvus or the Company) (NASDAQ:CRVS) (GLOB ...

BURLINGAME, Calif., March 13, 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 March 19, 2024 at 4:30 pm ET (1:30 pm PT) to provide a business update and report fourth quarter and full year 2023 financial results. The conference call can be accessed by dialing 1-877-407-0784 (toll-free domestic) or 1-201-689-8560 (international) or by clicking on this link for instant t ...

BURLINGAME, Calif., March 13, 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 March 19, 2024 at 4:30 pm ET (1:30 pm PT) to provide a business update and report fourth quarter and full year 2023 financial results. The conference call can be accessed by dialing 1-877-407-0784 (toll-free domestic) or 1-201-689-8560 (international) or by clicking on this link for instant ...

Corvus Pharmaceuticals, Inc. (CRVS) announced that the FDA granted the Orphan Drug Designation to its lead pipeline candidate, soquelitinib, for the treatment of T cell lymphoma.The FDA generally grants this designation to investigational therapies that address rare medical diseases or conditions affecting fewer than 200,000 people in the United States. The perquisites that come from this designation include assistance in the drug development process, tax credits for clinical costs, exemptions from certain ...

BURLINGAME, Calif., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS), a clinical-stage biopharmaceutical company, today announced that preclinical data for soquelitinib, the Company's lead ITK inhibitor program, was presented in a poster session at the Keystone Symposia on Systemic Autoimmune and Autoinflammatory Diseases, which took place February 8-11, 2024. The poster presentation includes the first description of Corvus' next-generation ITK inhibitor preclinical product candi ...

BURLINGAME, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS), a clinical-stage biopharmaceutical company, today announced the appointment of Jeffrey Arcara as Chief Business Officer. Mr. Arcara, who is a proven leader with more than 30 years of commercial experience in the biopharmaceutical industry, will be responsible for leading corporate strategy, business development, portfolio strategy, and new product planning. "Corvus is leading the development of ITK inhibition a ...

BURLINGAME, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS), a clinical-stage biopharmaceutical company, is deeply saddened to announce the passing of Edith P. Mitchell, M.D., a valued member of the Board of Directors. The Company extends its condolences to her family, colleagues and community. "Edith had a distinguished career in healthcare, spanning patient care, education, clinical research and improving health equity," said Richard A. Miller, M.D., co-founder, presid ...

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Q3 2023 Earnings Conference Call November 7, 2023 4:30 PM ET Company Participants Zack Kubow - Real Chemistry Leiv Lea - CFO Richard Miller - CEO Jim Rosenbaum - SVP of Research Conference Call Participants Aydin Huseynov - Ladenberg Jeff Jones - Oppenheimer Operator Good afternoon, ladies and gentlemen. Thank you for standing by, and welcome to the Corvus Pharmaceuticals Third Quarter 2023 Business Update and Financial Results Conference Call. At this time, all p ...

Financial Position - As of September 30, 2023, the company had cash, cash equivalents, and marketable securities of $32.2 million, down from $42.3 million as of December 31, 2022, with an accumulated deficit of $328.1 million[226]. - The company reported an increase in interest income of $0.2 million for the three months ended September 30, 2023, due to rising interest rates[217]. - Cash provided by financing activities amounted to $7.9 million during the nine months ended September 30, 2023, primarily from net proceeds of common stock issuance through the at-the-market offering program[261]. Clinical Development - The company completed an End-of-Phase/Pre-Phase 3 meeting with the FDA in August 2023, anticipating to initiate a Phase 3 clinical trial of soquelitinib in early 2024, enrolling 150 patients with relapsed PTCL[189]. - The company plans to initiate a Phase 1 clinical trial of soquelitinib in solid tumors in the first half of 2024, based on preclinical findings suggesting enhanced anti-tumor immunity[192]. - The company is collaborating with the Kidney Cancer Research Consortium to evaluate ciforadenant in a Phase 1b/2 clinical trial for metastatic renal cell cancer, with interim data expected in early 2024[215]. - In the 200 mg cohort of the Phase 1/1b clinical trial, as of May 18, 2023, there were 3 complete responses (CRs) and 3 partial responses (PRs) among 20 evaluable patients[188]. - The 200 mg dose of soquelitinib was determined to be optimal, showing higher response rates and longer disease control in patients[202]. - Preclinical data for soquelitinib indicated in vivo anti-tumor activity across several mouse tumor models, including colon, renal, melanoma, and both B cell and T cell tumors[235]. - Soquelitinib demonstrated a dose-dependent Th1 skewing and Th2 blockade in vitro, supporting the selection of a 200 mg dose for further studies[233]. - The company is evaluating the potential registrational clinical trial for soquelitinib, alongside other product candidates like ciforadenant and mupadolimab[238]. Expenses and Income - For the nine months ended September 30, 2023, general and administrative expenses decreased by $1.3 million compared to the same period in 2022, primarily due to a $0.6 million decrease in personnel costs[216]. - For the nine months ended September 30, 2023, the company recognized a decrease in sublease income of $0.4 million due to the expiration of the sublease agreement with Angel Pharmaceuticals in January 2023[218]. - The company reported a decrease in sublease income of $0.1 million due to the expiration of a building sublease agreement with Angel Pharmaceuticals in January 2023[237]. - Corvus Pharmaceuticals reported total operating lease costs of $418,000 for the three months ended September 30, 2023, compared to $414,000 for the same period in 2022, reflecting a slight increase of 1%[236]. - The company incurred research and development costs of $306,000 for the three months ended September 30, 2023, consistent with the previous year, while total operating lease costs for the nine months ended September 30, 2023, were $1.226 million, up from $987,000 in 2022, representing a 24% increase[236]. Risks and Compliance - Corvus Pharmaceuticals is exposed to risks related to compliance with healthcare laws, which could result in significant penalties if violations occur[246]. - The remaining lease term for operating leases is 1.3 years as of September 30, 2023, down from 2.3 years in the previous year[236]. - The company expects to increase spending related to the development and commercialization of its product candidates, funded through equity and/or debt financings[227]. - Corvus Pharmaceuticals is focusing on the development of immune modulator product candidates aimed at treating solid cancers and T cell lymphomas, with three candidates currently in clinical development[232].

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Q2 2023 Earnings Call Transcript August 8, 2023 4:30 PM ET Company Participants Zack Kubow - IR-Real Chemistry Leiv Lea - CFO Richard Miller - CEO Conference Call Participants Roger Song - Jefferies Aydin Huseynov - Ladenburg Thalmann Rosemary Li - Cantor Fitzgerald Jeff Jones - Oppenheimer Operator Thank you for standing by. This is the conference operator. Welcome to the Corvus Pharmaceuticals Second Quarter 2023 Conference Call. [Operator Instructions]. I would ...