Corvus Pharmaceuticals(US:CRVS)2020-03-06 01:41Financial Data and Key Metrics Changes - As of December 31, 2019, the company had cash, cash equivalents, and marketable securities totaling $78 million, down from $114.6 million at the end of 2018 [5] - Research and development expenses for Q4 2019 were $8.9 million, compared to $8.4 million in Q4 2018, primarily due to increased costs for CPI-006 and CPI-818 programs [5] - The net loss for Q4 2019 was $11 million, compared to a net loss of $10.5 million for the same period in 2018 [7] - For the full year 2019, the net loss was $46.7 million, slightly improved from a net loss of $46.9 million in 2018 [7] Business Line Data and Key Metrics Changes - The company reported encouraging data from the Phase Ib/2 clinical trial of ciforadenant in combination with atezolizumab for advanced refractory renal cell cancer, with over 300 patients treated [9] - CPI-006, a novel anti-CD73 antibody, showed potential as both a monotherapy and in combination therapies across various tumor types [10] - CPI-818, an ITK inhibitor, is in the early stages of clinical trials, with initial data presented at recent conferences [20] Market Data and Key Metrics Changes - The Adenosine Gene Signature has been identified as a potential predictive biomarker for ciforadenant, indicating a subgroup of renal cell cancer patients who may benefit from treatment [15] - The company is focusing on late-line treatment for patients who have failed prior therapies, which is becoming a significant patient population due to advancements in earlier lines of treatment [38] Company Strategy and Development Direction - The company aims to advance its clinical studies for ciforadenant, CPI-006, and CPI-818, with a focus on the adenosine pathway and its implications in oncology [11][21] - There is a strategic emphasis on identifying patients most likely to benefit from therapies, particularly through the use of the Adenosine Gene Signature [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the progress made in 2019 and the potential for their product candidates to address significant unmet needs in oncology [8] - The company plans to provide updates on clinical and biomarker data at the ASCO annual meeting in June, which is expected to enhance their positioning in the market [16][21] Other Important Information - The company is exploring the combination of ciforadenant with daratumumab in multiple myeloma patients, leveraging the role of CD38 in adenosine production [35][36] - Management highlighted the importance of D-cells in predicting responses to immunotherapy, which aligns with their ongoing research efforts [19] Q&A Session Summary Question: Antibodies produced in patients treated with CPI-006 - Management observed low target antibody responses in some patients, with one identified antigen being a known lung tumor antigen [24] Question: Updates on CPI-006 data - Updates on CPI-006 are expected to be presented at the ASCO meeting, with a focus on the biomarker data [24] Question: Incorporation of the adenosine signature into clinical trials - The company is enrolling additional patients to confirm findings related to the adenosine signature and plans to incorporate it into clinical trial designs [26] Question: Confirmation of the dose for CPI-818 - The confirmed dose for CPI-818 is 600 milligrams TID, with no observed toxicity during the DLT period [28] Question: Details on additional RCC patients - The additional 25 RCC patients are similar to previous patients but with a restriction on prior therapies, focusing on those who have failed both IO and TKI treatments [30] Question: Expected patient data for ciforadenant and prostate cancer - Approximately 33 to 35 patients are being followed for prostate cancer, with more biological data expected at the ASCO meeting [32] Question: Opening of combination dosing with pembrolizumab - The combination dosing with pembrolizumab is already open for enrollment [34]