Corvus Pharmaceuticals, Inc.
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Range $40 – $40
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About the company
Corvus Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical firm specializing in the development and commercialization of immuno-oncology therapies. Their leading investigational compound, Mupadolimab (CPI-006), an anti-CD73 monoclonal antibody, is currently progressing through Phase Ib/II clinical trials for the treatment of non-small cell lung cancer and head and neck cancers.
- CEO
- Richard A. Miller
- IPO
- 2016
- Employees
- 37
- HQ
- South San Francisco, CA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $1.21B
- P/E
- -22.42
- Fwd P/E
- 108.30
- PEG
- 0.10
- P/S
- 0.00
- P/B
- 5.88
- EV/EBITDA
- -23.08
- Div Yield
- 0.00%
- Gross Margin
- 0.00%
- Op Margin
- 0.00%
- Net Margin
- 0.00%
- ROE
- -36.15%
- ROIC
- -25.20%
Latest fiscal year · YoY change
- Revenue
- $0+0.0%
- Gross Profit
- $-105,000+0.0%
- Op Income
- $-42,971,000
- Net Income
- $-15,283,000+75.5%
- EPS
- $-0.19+81.4%
- OCF Growth
- -29.0%
- FCF Growth
- -29.7%
- 52W High
- $26.95
- 52W Low
- $5.03
- 50D MA
- $13.85
- 200D MA
- $13.42
- Beta
- 0.87
- RSI (14)
- 51
- Avg Volume
- 1.20M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Corvus reported a wider second-quarter loss on higher R&D spend, but said Soquelitinib remains on track across PTCL, atopic dermatitis, asthma, and hidradenitis suppurativa with cash funding into Q2 2028.· August 6, 2026
- R&D rose to $16 million from $7.9 million a year ago, driving a Q2 2026 net loss of $18 million versus $8 million in Q2 2025.
- Cash, cash equivalents, and marketable securities were $215 million at 6/30/2026, including about $189 million from a Q1 follow-on offering; management said this should fund operations into Q2 2028.
- PTCL Phase III enrollment is on track, and management now expects the interim futility analysis in Q1 2027 and final data late 2027.
- Atopic dermatitis data continued to look strong, including 75% EASI-70 in the highest-dose cohort, with no severe or serious adverse events reported.
- Corvus is broadening Soquelitinib into HS and asthma, while coordinating closely with Angel Pharmaceuticals in China and expecting first Angel cohort data by year-end 2026.
Corvus reported no product revenue on the call. Research and development expense for Q2 2026 was $16 million, up from $7.9 million in Q2 2025, and net loss was $18 million versus $8 million a year ago. The company said the prior-year period included a $2 million noncash gain from warrant liability fair value changes, while Q2 2026 and Q2 2025 included noncash losses of $700 thousand and $400 thousand, respectively, from the Angel Pharmaceuticals equity-method investment. Stock compensation expense was $2.6 million versus $1.3 million in the prior-year quarter. Cash, cash equivalents, and marketable securities totaled $215 million at 6/30/2026, up from $56.8 million at 12/31/2025, and management expects that balance to fund operations into Q2 2028. Forward-looking updates: PTCL Phase III enrollment remains on track, interim futility analysis is now expected in Q1 2027, final data is still expected late 2027, SEERA-1 atopic dermatitis enrollment is expected to finish in early 2027 with top-line data in Q3 2027, and Angel’s first atopic dermatitis cohort data is expected before year-end 2026 with cohort 2 data in Q2 2027.
Richard A. Miller emphasized Soquelitinib as the company’s central asset and framed the strategy as building a broad clinical package around ITK inhibition across cancer and inflammatory diseases. He highlighted PTCL, atopic dermatitis, asthma, and hidradenitis suppurativa as the near- and mid-term priorities, and repeatedly argued the drug’s mechanism could support both efficacy and durable remission. His tone was upbeat and confident, especially on atopic dermatitis, where he pointed to durable responses, lack of severe safety issues, and the possibility of once-daily dosing and eventually broader immune rebalancing effects.
Leiv Lea focused on the quarter’s expense growth and liquidity. He said Q2 2026 R&D was $16 million, up from $7.9 million, mainly due to higher clinical trial costs for Soquelitinib and higher personnel costs, while net loss widened to $18 million from $8 million. He noted $215 million in cash, cash equivalents, and marketable securities at quarter-end, including about $189 million from the Q1 follow-on offering, plus the $5 million investment in Angel’s $13.5 million financing. Based on current plans, management expects the cash balance to fund operations into Q2 2028.
Analysts pressed management on whether drug-free remissions could support a label claim, and Richard Miller said the current regulatory path is conventional placebo-controlled endpoints such as EASI and IGA at 12 or 16 weeks; he said remission would be a meaningful clinical advantage but not part of the initial approval strategy. Questions also focused on dosing and formulation, and Miller said the company is exploring other formulations and expects the eventual regimen may be once daily. On PTCL timing, management said the final data remain expected late 2027, while the interim futility analysis moved to Q1 2027 based on event rates. Analysts also asked about China data and asthma design; management said Angel data can be used in filings, expects comparable rather than necessarily superior efficacy, and plans identical phase 2 asthma studies in the U.S. and China that can drop either T2 or non-T2 arms for futility.
The call reinforced that Soquelitinib has multiple shots on goal with upcoming readouts across PTCL, atopic dermatitis, Angel’s China studies, HS, and asthma. Management was especially encouraged by the atopic dermatitis signals, including durable benefit, no serious safety issues, and the possibility that the drug could work across both Th2 and Th17-driven disease. The balance sheet also looks strong, with cash expected to support operations into Q2 2028.
The business remains heavily dependent on a single clinical asset, and the company is still years away from potential pivotal data in PTCL and atopic dermatitis. Management acknowledged that the timing of event-driven PTCL milestones can shift, and the asthma program includes a built-in futility framework that could cause arms to be dropped if responses are weak. The company also continues to burn cash, with Q2 R&D rising sharply year over year to $16 million.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 86.5%
- Shares Outstanding
- 84.09M
- Float Shares
- 72.76M
of shares held by institutions
173 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Orbimed Advisors LLC | 7.17M | 0 |
| Blackrock, Inc. | 7.14M | ▲ 978.39K |
| State Street Corp | 4.47M | ▲ 908.10K |
| Vanguard Group Inc | 3.87M | ▲ 401.56K |
| Price T Rowe Associates Inc | 3.79M | ▲ 871.83K |
| Vanguard Capital Management LLC | 3.29M | ▲ 58.17K |
| Adams Street Partners LLC | 3.28M | 0 |
| Vivo Capital, LLC | 2.81M | 0 |
| Wellington Management Group Llp | 2.73M | ▲ 413.12K |
| Perceptive Advisors LLC | 2.67M | ▲ 375.00K |
| Deep Track Capital, LP | 2.49M | ▲ 400 |
| Braidwell LP | 2.13M | ▲ 373.50K |
Held by 169 ETFs
Biggest fund positions in CRVS by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 11, 26 | Moore David Scott | buy | 21,700 |
| Jun 11, 26 | Moore David Scott | other | 15,000 |
| Jun 11, 26 | CLARK IAN T | other | 15,000 |
| Jun 11, 26 | Grais Linda | other | 15,000 |
| Jun 11, 26 | Thompson Peter A. | other | 15,000 |
| Jun 11, 26 | van den Broek Richard | other | 15,000 |
| May 18, 26 | MILLER RICHARD A MD | buy | 1,932 |
| May 18, 26 | MILLER RICHARD A MD | buy | 5,000 |
| Apr 23, 26 | Chan Andrew C. | other | 30,000 |
| Apr 23, 26 | Chan Andrew C. | other | 0 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our CRVS coverage
Recent articles, reports, and earnings notes.
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Generate CRVS report →Corvus Pharmaceuticals, Inc. (CRVS) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 7
Corvus Pharmaceuticals Q2 Earnings Call Highlights
marketbeat.com · Aug 6
Corvus Pharmaceuticals Provides Business Update and Reports Second Quarter 2026 Financial Results
globenewswire.com · Aug 6
Corvus Pharmaceuticals to Provide Business Update and Second Quarter 2026 Financial Results on August 6, 2026
globenewswire.com · Jul 30
Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Up 5.1% – Should You Buy?
defenseworld.net · Jul 19
Corvus Pharmaceuticals Director Buys 21,700 Shares. Does This Mean CRVS a Buy?
fool.com · Jun 23
Corvus Pharmaceuticals Announces Additional Investment in Angel Pharmaceuticals to Advance the Development of Soquelitinib in China
globenewswire.com · Jun 9
Corvus Pharmaceuticals Announces Additional Investment in Angel Pharmaceuticals to Advance the Development of Soquelitinib in China
globenewswire.com · Jun 9
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