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.

Financial Data and Key Metrics Changes - Research and development expenses for Q3 2025 totaled $8.5 million, an increase from $5.2 million in Q3 2024, primarily due to higher clinical trial and manufacturing costs for soquelitinib and increased personnel-related costs [4] - The net loss for Q3 2025 was $10.2 million, significantly improved from a net loss of $40.2 million in Q3 2024, which included a $32.8 million non-cash loss related to warrant liability [4] - Cash, cash equivalents, and marketable securities as of September 30, 2025, were $65.7 million, up from $52 million at December 31, 2024, with expectations to fund operations into Q4 2026 [5] Business Line Data and Key Metrics Changes - The primary focus remains on the development of soquelitinib for atopic dermatitis and T-cell lymphomas, with several important milestones upcoming [6] - Enrollment in the extension cohort 4 of the phase I trial has been completed, with results expected in January [11] - The phase II atopic dermatitis trial is on track to initiate in early Q1 2026, involving approximately 200 patients who have failed prior therapies [12] Market Data and Key Metrics Changes - There is increasing interest in drugs with novel mechanisms to address atopic dermatitis and other inflammatory diseases, positioning soquelitinib favorably in the market [6] - The company is exploring potential next opportunities for its platform, indicating a broad market potential beyond current indications [7] Company Strategy and Development Direction - The company aims to establish selective blockade of ITK as a new therapeutic approach to autoimmune inflammatory diseases, leveraging the data from ongoing trials [16] - Plans to expand into other immune-related diseases, including asthma and hidradenitis suppurativa, are in consideration, with multiple trials intended to be run simultaneously [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of soquelitinib in atopic dermatitis and other immune diseases, citing encouraging clinical evidence [16] - The upcoming ASH presentation is expected to provide further insights into the efficacy of soquelitinib in T-cell lymphoma, which may also support its use in other immune diseases [14][20] Other Important Information - The company appointed David Moore to its board of directors, enhancing its strategic resources [15] - The final results from the phase 1b clinical trial of soquelitinib for T-cell lymphomas will be presented at the American Society of Hematology meeting in December [14] Q&A Session Summary Question: Can you provide context on the ASH abstract and the data to be presented? - Management highlighted impressive overall survival data and emphasized the drug's novel mechanism of action, which shows significant activity in T-cell lymphomas [18][19] Question: What are the expectations for the upcoming atopic dermatitis readout? - Management aims to confirm previous results in a larger patient cohort and assess whether extended treatment duration improves efficacy [21][23] Question: What are the plans for advancing soquelitinib in other indications? - The company is making plans to move into other immune-related diseases, with asthma and dermatologic conditions being key targets [24][32] Question: Will there be a post hoc analysis for Dupixent and JAK-exposed patients? - Management confirmed that post hoc analysis will be conducted to evaluate the drug's efficacy in these populations [36] Question: What is the timeline for the phase II trial and potential launch? - The phase II trial is expected to have a futility interim analysis at the end of 2026, with full data anticipated by the end of 2027 [34] Question: Are there plans for partnerships or licensing deals for soquelitinib? - The company is open to evaluating partnership opportunities while pushing forward with its cancer and immunology programs [41]

Core Insights - Corvus Pharmaceuticals is advancing the development of its ITK inhibitor, soquelitinib, for treating atopic dermatitis and T cell lymphomas, with significant clinical trials underway [3][4][5] Clinical Development - Enrollment in the Phase 1 trial extension cohort 4 for soquelitinib in atopic dermatitis has been completed, involving 24 patients receiving a 200 mg BID dose over an 8-week treatment period, with data expected in January 2026 [7] - The Phase 2 trial for atopic dermatitis is set to begin in early Q1 2026, targeting approximately 200 patients who have not responded to prior therapies [7] - The Phase 3 registrational trial for soquelitinib in relapsed/refractory peripheral T cell lymphoma (PTCL) is currently enrolling patients across multiple sites, with the final Phase 1/1b results to be presented at the American Society of Hematology Annual Meeting [6][8] Financial Overview - As of September 30, 2025, Corvus reported cash, cash equivalents, and marketable securities totaling $65.7 million, an increase from $52.0 million at the end of 2024, with expectations to fund operations into Q4 2026 [9] - Research and development expenses for Q3 2025 were $8.5 million, up from $5.2 million in Q3 2024, primarily due to increased clinical trial and manufacturing costs [10] - The net loss for Q3 2025 was $10.2 million, a significant reduction from a net loss of $40.2 million in the same period of 2024, which included a non-cash loss related to warrant liability [11] Strategic Collaborations - Corvus is collaborating with the National Institute of Allergy and Infectious Diseases (NIAID) for a Phase 2 clinical trial of soquelitinib in Autoimmune Lymphoproliferative Syndrome (ALPS), aiming to enroll up to 30 patients [5] Product Information - Soquelitinib is an investigational oral small molecule designed to selectively inhibit ITK, which plays a crucial role in T cell immune function, potentially benefiting patients with various cancers and autoimmune diseases [14][18]

Core Insights - Corvus Pharmaceuticals is set to present final data from its Phase 1/1b trial of soquelitinib for T cell lymphoma at the 67th ASH Annual Meeting in December 2025 [1] - Soquelitinib is a selective interleukin-2-inducible T cell kinase (ITK) inhibitor, currently in a Phase 3 clinical trial for relapsed/refractory T cell lymphoma and a Phase 1 trial for atopic dermatitis [2] Group 1 - The oral presentation will take place on December 8, 2025, from 10:30 AM to 12:00 PM, with the specific presentation scheduled for 11:15 AM to 11:30 AM [1] - The publication number for the presentation is 778, focusing on the final results of the Phase 1 trial with soquelitinib [1] Group 2 - Corvus Pharmaceuticals is pioneering ITK inhibition as a novel immunotherapy approach for various cancers and immune diseases [2] - The company’s lead product candidate, soquelitinib, is an investigational oral small molecule drug that selectively inhibits ITK [2]

Core Insights - Corvus Pharmaceuticals, Inc. will engage with investors through one-on-one meetings and a fireside chat at the Guggenheim 2 Annual Healthcare Innovation Conference in Boston, MA on November 10, 2025 at 8:30 am ET [1] 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 [3] - The company's lead product candidate is soquelitinib, an investigational oral small molecule drug that selectively inhibits ITK [3] - Corvus has additional clinical-stage candidates targeting a range of cancer indications [3] Event Details - A live webcast of the fireside chat will be available, along with access for 90 days post-event, through the investor relations section of the Corvus website [2]

Core Points - Corvus Pharmaceuticals, Inc. will host a conference call and webcast on November 4, 2025, at 4:30 pm ET to provide a business update and report third quarter 2025 financial results [1] - The conference call can be accessed via a toll-free number or through a link for instant access, with a replay available for 90 days on the company's website [2] - Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on ITK inhibition for immunotherapy targeting various cancers and immune diseases, with its lead product candidate being soquelitinib [3]

Core Insights - Corvus Pharmaceuticals has appointed David Moore to its Board of Directors, bringing extensive experience from his 27-year career in the pharmaceutical and biotech industries [1][2] - Mr. Moore's background includes leadership roles at Novo Nordisk, where he oversaw successful GLP-1 franchises, which is expected to be a strategic asset for Corvus as it develops its ITK inhibitor platform [2] - Corvus is focused on developing ITK inhibition as a novel immunotherapy approach for cancer and immune diseases, with its lead candidate being soquelitinib [3] Company Overview - Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company specializing in ITK inhibition for treating various cancer and immune diseases [3] - The company's lead product candidate, soquelitinib, is an investigational oral small molecule drug that selectively inhibits ITK [3] Leadership Experience - David Moore has held significant positions at Novo Nordisk, including Executive Vice President of US Operations and President of Novo Nordisk Inc., contributing to corporate strategy and business development [2] - His previous roles also include being an investment partner at Gurnet Point Capital and CEO of Lysovant Sciences, showcasing a diverse background in both operational and investment capacities [2]

Core Insights - Corvus Pharmaceuticals reported positive interim results from the Phase 1 clinical trial of soquelitinib for atopic dermatitis, showing earlier and deeper responses compared to earlier cohorts, with a significant reduction in itch as early as day 8 [1][4][3] - The company is advancing its clinical trials, with ongoing enrollment in Phase 1 trial extension cohort 4 and plans to initiate a Phase 2 trial before the end of the year [1][3] - Corvus is also enrolling patients in a Phase 3 registrational clinical trial of soquelitinib for relapsed/refractory peripheral T cell lymphoma (PTCL) [1][6] Clinical Development - Soquelitinib demonstrated a mean reduction in Eczema Area and Severity Index (EASI) score of 64.8% in cohort 3 at 28 days, compared to 54.6% for cohorts 1 and 2 combined [4] - The Phase 1 trial showed a favorable safety profile, with no dose-limiting toxicities reported [4] - A separate Phase 1b/2 trial in China is planned to further explore soquelitinib's efficacy in atopic dermatitis with a 12-week treatment period [3][4] Financial Performance - As of June 30, 2025, Corvus had cash, cash equivalents, and marketable securities totaling $74.4 million, an increase from $52.0 million at the end of 2024 [9] - The company reported a net loss of $8.0 million for the second quarter of 2025, compared to a net loss of $4.3 million for the same period in 2024 [11] - Research and development expenses for the second quarter of 2025 were $7.9 million, up from $4.1 million in the same period in 2024, primarily due to increased clinical trial costs [10] Strategic Collaborations - Corvus is collaborating with the National Institute of Allergy and Infectious Diseases (NIAID) for a Phase 2 clinical trial in autoimmune lymphoproliferative syndrome (ALPS) [5] - The company has partnered with Angel Pharmaceuticals to develop and commercialize its clinical-stage candidates in China [23] Upcoming Events - A conference call and webcast is scheduled for August 7, 2025, to discuss the business update and second-quarter financial results [12][13]

Core Viewpoint - Corvus Pharmaceuticals will host a conference call and webcast on August 7, 2025, to provide a business update and report its second quarter 2025 financial results [1]. Group 1: Conference Call Details - The conference call is scheduled for 4:30 pm ET (1:30 pm PT) [1]. - Access to the conference call can be made via a toll-free domestic number (1-800-717-1738) or an international number (1-646-307-1865) [2]. - A live webcast will be available on the investor relations section of the Corvus website, with a replay accessible for 90 days [2]. Group 2: Company Overview - Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on ITK inhibition as a novel immunotherapy approach for various cancers and immune diseases [3]. - The lead product candidate is soquelitinib, an investigational oral small molecule drug that selectively inhibits ITK [3]. - The company is developing other clinical-stage candidates targeting a variety of cancer indications [3].

Core Insights - Aclaris Therapeutics announced positive top-line results from its Phase 2a trial of ATI-2138, indicating a favorable tolerability profile and comparable efficacy to approved therapies for moderate-to-severe atopic dermatitis [1][2][13] Group 1: Trial Overview - The Phase 2a trial was an open-label, single-arm study involving 14 patients with moderate-to-severe atopic dermatitis, focusing on safety, tolerability, pharmacokinetics, efficacy, and pharmacodynamics of ATI-2138 administered at 10mg BID for 12 weeks [14] - The trial confirmed the strong tolerability profile of ATI-2138, with no severe adverse events reported and most adverse events being mild [6][12] Group 2: Efficacy Results - The mean improvement in Eczema Area and Severity Index (EASI) score at week 12 was 60.5%, with a median improvement of 76.8% among patients receiving ATI-2138 [12] - At week 12, 62.5% of patients experienced a clinically meaningful ≥4-point improvement in Peak Pruritus Numerical Rating Scale (PP-NRS) [9] - Improvements in EASI scores were observed as early as week 1, with significant reductions noted at weeks 4, 8, and 12 [12] Group 3: Pharmacodynamic Results - Pharmacodynamic analyses demonstrated strong downregulation of key inflammatory markers associated with ITK, including Th2 and Th1/Th17-related markers, indicating the therapeutic potential of ITK inhibition [3][10] - Near complete and sustained ITK target occupancy was observed, with reductions in multiple inflammatory pathways linked to ITK [10] Group 4: Future Development Plans - Aclaris plans to further develop ATI-2138 for alopecia areata and explore other indications relevant to its mechanism of action, with ongoing preclinical work for next-generation ITK inhibitors expected to lead to new INDs starting in 2026 [13][16]