Core Viewpoint - The article emphasizes the importance of identifying and maintaining trends in short-term investing, highlighting that sound fundamentals and positive earnings estimates are crucial for sustaining momentum in stocks [1]. Group 1: Recent Price Strength Screen - The "Recent Price Strength" screen is a unique short-term trading strategy that helps identify stocks with strong fundamentals capable of maintaining an uptrend [2]. - Stocks that pass this screen are typically trading in the upper portion of their 52-week high-low range, indicating bullish sentiment [2]. Group 2: Corvus Pharmaceuticals (CRVS) - Corvus Pharmaceuticals is highlighted as a strong candidate for trend investors, having experienced a price increase of 105.3% over the past 12 weeks, indicating investor confidence in its potential upside [3]. - The stock has also seen an 18.2% price increase over the last four weeks, suggesting that the upward trend is still intact [4]. - Currently, CRVS is trading at 83% of its 52-week high-low range, indicating a potential breakout opportunity [4]. Group 3: Fundamental Strength - CRVS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which are critical for near-term price movements [5]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term performance [6]. Group 4: Additional Opportunities - Besides CRVS, there are several other stocks that meet the criteria of the "Recent Price Strength" screen, suggesting further investment opportunities [7]. - The article encourages exploring over 45 Zacks Premium Screens tailored to different investing styles to identify potential winning stocks [7].

Core Insights - Corvus Pharmaceuticals announced new preclinical data supporting the potential of soquelitinib, an ITK inhibitor, for treating immune diseases, particularly systemic sclerosis [1][2] - The data will be presented at ACR Convergence 2024, highlighting the efficacy of soquelitinib in preventing lung damage and inflammation associated with systemic sclerosis [1][5] Company Overview - Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing ITK inhibition as a novel immunotherapy approach for various cancers and immune diseases [6] - The lead product candidate, soquelitinib, is an investigational oral small molecule drug that selectively inhibits ITK [6][8] Research Findings - Preclinical studies utilized a Fra-2 transgenic mouse model, demonstrating that soquelitinib treatment resulted in significant reductions in lung infiltration and fibrosis, improved clinical scores, and reduced pulmonary hypertension [3][4] - The treatment showed efficacy in a second model of pulmonary fibrosis, confirming its potential benefits in immune-mediated fibrotic diseases [4] Disease Context - Systemic sclerosis, also known as scleroderma, is a rare autoimmune disease affecting approximately 125,000 people in the U.S. and 2.5 million worldwide, leading to significant morbidity and mortality [7] - The disease is characterized by inflammation, fibrosis, and vascular damage, with interstitial lung disease being a major cause of death among patients [7] Clinical Development - Corvus is currently enrolling patients in a Phase 3 trial for soquelitinib in peripheral T cell lymphoma and a Phase 1 trial for atopic dermatitis, indicating a strategic focus on expanding the clinical applications of soquelitinib [2][8]

Core Insights - The discussion in the biotech community has focused on profitable buy-write or covered call strategies on selected biotech stocks in recent months [1]. Company Spotlight - Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS) has experienced a significant increase in its share price recently, raising questions about the sustainability of this rally and the potential for profit-taking [2]. - The investing group, The Biotech Forum, offers a model portfolio featuring 12-20 high upside biotech stocks, along with live chat discussions and weekly research updates [2].

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]

Product Candidates - The lead product candidate, soquelitinib, is currently in a registrational Phase 3 clinical trial for relapsed T cell lymphomas and a Phase 1 trial for atopic dermatitis [107]. - Interim data from the Phase 1/1b trial of soquelitinib showed an objective response rate (ORR) of 39% among 23 evaluable patients, with 6 complete responses (CRs) and 3 partial responses (PRs) [110]. - The optimal dose for soquelitinib was determined to be 200 mg taken twice daily, based on anti-tumor efficacy and pharmacodynamic data [110]. - A new Phase 3 clinical trial for soquelitinib in relapsed peripheral T cell lymphoma (PTCL) has been initiated, aiming to enroll 150 patients who have received at least one prior therapy [110]. - The second product candidate, ciforadenant, is being evaluated in a Phase 1b/2 trial for metastatic renal cell carcinoma (RCC) in combination with ipilimumab and nivolumab, with 46 patients enrolled as of September 30, 2024 [112]. - The efficacy endpoint for the ciforadenant trial is a deep response rate of over 50% tumor volume reduction, exceeding the 32% rate seen in previous combination trials [112]. - The third product candidate, mupadolimab, is designed to enhance immune responses and is awaiting initiation of a potential Phase 2 trial [113]. - Soquelitinib has received Fast Track designation from the FDA for the treatment of adult patients with relapsed or refractory PTCL after at least two lines of systemic therapy [110]. - The company continues to advance next-generation ITK inhibitor candidates aimed at optimizing T-cell modulation for specific immunology indications [111]. Financial Performance - As of September 30, 2024, the company reported a net loss of $40.2 million for the three months and $50.2 million for the nine months, with an accumulated deficit of $384.9 million [116]. - The company has not generated any revenue from product sales to date and expects to continue incurring significant research and development expenses [122]. - Research and development expenses for the three months ended September 30, 2024, were $5.2 million, an increase of $1.3 million compared to the same period in 2023 [130]. - The total operating expenses for the three months ended September 30, 2024, were $7.3 million, compared to $5.6 million for the same period in 2023 [129]. - For the nine months ended September 30, 2024, mupadolimab costs decreased by $0.6 million, primarily due to a $0.4 million reduction in clinical trial expenses and a $0.3 million decrease in manufacturing costs [135]. - For the nine months ended September 30, 2024, unallocated costs increased by $0.4 million, mainly driven by a $0.5 million rise in personnel and related costs [137]. - General and administrative expenses increased by $0.8 million for the nine months ended September 30, 2024, with $0.6 million attributed to personnel and related costs [139]. - As of September 30, 2024, the company had cash, cash equivalents, and marketable securities totaling $41.7 million, up from $27.1 million as of December 31, 2023 [144]. - During the nine months ended September 30, 2024, cash used in operating activities was $17.0 million, resulting from a net loss of $50.2 million [153]. - Cash flows from investing activities for the nine months ended September 30, 2024, showed a net outflow of $21.4 million, primarily due to $49.8 million in marketable securities purchases [156]. - Cash provided by financing activities for the nine months ended September 30, 2024, was $30.4 million, mainly from the issuance of common stock and warrants [158]. - The accumulated deficit as of September 30, 2024, was $384.9 million, compared to $334.7 million as of December 31, 2023 [144]. - The change in fair value of warrant liabilities increased by $32.8 million for the three months ended September 30, 2024, due to a rise in the market price of the company's common stock [140]. - The company expects to continue incurring net operating losses for at least the next several years as it advances its product candidates through clinical development [147]. Research and Development Strategy - The company plans to increase research and development expenses substantially to support ongoing clinical trials for its product candidates [124]. - The company has a 49.7% equity interest in Angel Pharmaceuticals, which was launched with a post-money valuation of approximately $106.0 million [115]. - The company has no manufacturing capabilities and relies on third parties for the supply of its product candidates [121]. - The company anticipates needing additional financing to support its operations and may face challenges in raising capital due to market volatility [120]. - As of September 30, 2024, the company had capital resources of approximately $41.7 million, which is expected to be sufficient to fund operations through 2026 [121].

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 ...

Core Insights - Corvus Pharmaceuticals announced new data indicating that ciforadenant, an adenosine A2A receptor antagonist, may help overcome resistance to anti-PD1 immunotherapy in metastatic castration resistant prostate cancer (mCRPC) [1][3] Group 1: Research Findings - The data was presented at the Society for Immunotherapy of Cancer (SITC) 39th Annual Meeting, highlighting the role of myeloid cells and the adenosine gene signature in mCRPC [2][4] - SPP1+ myeloid cells were identified as critical mediators of resistance to immunotherapy, with increased prevalence in mCRPC patients compared to those with earlier-stage prostate cancer [4][6] - Ciforadenant treatment in a murine model showed reduced immunosuppression and enhanced sensitivity to anti-PD1 therapy, along with decreased SPP1+ macrophage infiltration in tumors [6] Group 2: Clinical Trial Data - The Phase 1b/2 clinical trial of ciforadenant included 35 patients with advanced mCRPC, with 11 receiving ciforadenant as monotherapy and 24 receiving it in combination with atezolizumab [6] - Among those receiving combination therapy, 5 out of 24 (21%) exhibited PSA partial responses (PSA reductions >30%), compared to 1 out of 11 (9%) in the monotherapy group [6] Group 3: Company Overview - Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative immunotherapy approaches for various cancers and immune diseases [7] - The company's lead product candidate, ciforadenant, is designed to block adenosine's immunosuppressive effects in the tumor microenvironment [8]

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 ...