Why Is Corvus Pharmaceuticals Stock Soaring On Friday?

Core Insights - Corvus Pharmaceuticals released new interim data from a Phase 1 clinical trial for soquelitinib, showing a favorable safety and efficacy profile in patients with moderate to severe atopic dermatitis [1][6] Efficacy and Safety Data - All three cohorts demonstrated significant responses in EASI 75 and IGA 0 or 1 compared to placebo [2] - The percent reduction in mean EASI scores at 28 days was 54.6% for cohorts 1 and 2 combined receiving soquelitinib versus 30.6% for placebo, while cohort 3 showed a 71.1% reduction compared to 42.1% for placebo [3] - Active drug separation from placebo began at day 15 for cohorts 1 and 2, and at day 8 for cohort 3, with significant superiority at day 28 (p=0.03) [4] Tolerability and Adverse Events - Soquelitinib was well tolerated with no dose-limiting toxicities or clinically significant laboratory abnormalities observed [4] - Grade 1/2 adverse events occurred in 33.3% of soquelitinib patients and 25% of placebo patients, with only one treatment-related adverse event reported [5] Mechanism of Action and Future Plans - Relationships between reductions in certain cytokines and improvement in EASI scores were observed, along with an increase in circulating T regulatory cells [5] - The company plans to continue with key initiatives for soquelitinib, including data from a new extension cohort and a Phase 2 clinical trial by year-end [7] Financial Position - As of March 31, 2025, Corvus had cash and equivalents of $44.2 million, expected to fund operations into Q4 2026 [8] - Following the news, CRVS stock increased by 28.40% to $4.30 [8]