Corvus Pharmaceuticals, Inc.

Corvus Pharmaceuticals announced a $5 million investment in a new $13.5 million financing round for its Chinese collaboration partner, Angel Pharmaceuticals. This funding will support Angel Pharma's ongoing Phase 1b/2 trial of soquelitinib for atopic dermatitis and a new Phase 2 trial for asthma. Corvus, as Angel Pharma's largest shareholder, expects to benefit from the clinical data generated and its significant ownership position in the growing Chinese inflammation and immunology markets. Angel Pharma anticipates reporting initial atopic dermatitis trial results in late 2026 and starting the asthma trial in early 2027.

Corvus Pharmaceuticals announced that its leadership team will conduct one-on-one meetings with investors and present a corporate overview at two upcoming healthcare conferences. The Jefferies Global Healthcare Conference presentation is scheduled for June 3, 2026, and the Goldman Sachs 47th Annual Global Healthcare Conference presentation is set for June 8, 2026. Webcasts of both presentations will be available live and for 90 days on the company's investor relations website. Corvus is a clinical-stage biopharmaceutical company developing ITK inhibition, with its lead candidate soquelitinib in Phase 3 and Phase 2 trials.

Corvus Pharmaceuticals presented positive final Phase 1 clinical trial data for soquelitinib in moderate-to-severe atopic dermatitis, demonstrating safety and efficacy, including in treatment-resistant patients. The trial showed durable remissions with no disease rebound post-treatment, a key differentiator from existing therapies. Biomarker data supported the drug's novel mechanism of action, suggesting potential for drug-free remissions and rebalancing the immune system. The company is now enrolling patients for a Phase 2 trial.

Corvus Pharmaceuticals completed a follow-on public offering in January 2026, raising approximately $189.4 million in net proceeds. For the first quarter ended March 31, 2026, the company reported a net loss of $13.7 million, a significant change from the net income of $15.2 million in the prior year period. This offering substantially increased the company's cash, cash equivalents, and marketable securities to $236.7 million, providing liquidity to fund planned operations for at least the next 12 months. Research and development expenses also increased to $11.2 million as the company continues its clinical development programs.

Corvus Pharmaceuticals reported a net loss of $13.7 million for Q1 2026, compared to a net income of $15.2 million in Q1 2025. The company ended the quarter with $236.7 million in cash, cash equivalents, and marketable securities, including $189.4 million from a January 2026 financing, providing a cash runway into Q2 2028. Operationally, Corvus advanced its soquelitinib program, initiating a Phase 2 trial for atopic dermatitis and planning two more Phase 2 trials for hidradenitis suppurativa and asthma. New immunologic data for soquelitinib will be presented at the SID annual meeting, with an investor event scheduled for May 14, 2026.

Corvus Pharmaceuticals, Inc. announced its Annual Meeting of Stockholders will be held virtually on June 11, 2026, at 1:00 p.m. Pacific Time. Stockholders will vote on the election of two Class I Directors, the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2026, and a non-binding advisory vote on executive officer compensation. The Board of Directors recommends voting for all proposals.

Corvus Pharmaceuticals, Inc. announced its Annual Meeting of Stockholders will be held virtually on June 11, 2026. Stockholders will vote on the election of two Class I Directors, the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2026, and a non-binding advisory vote on executive compensation. The record date for voting is April 16, 2026, and proxy materials are available online.

Corvus Pharmaceuticals, Inc. announced the appointment of Andrew C. Chan, M.D., Ph.D., to its Board of Directors, effective April 23, 2026. Dr. Chan will serve as a Class II director with a term expiring at the 2027 annual meeting and was also appointed to the Nominating and Corporate Governance Committee. His compensation includes a $35,000 annual Board retainer, an initial stock option grant for 30,000 shares, and an additional $4,000 annually for his committee service.

Corvus Pharmaceuticals announced it will host an investor and analyst meeting on May 14, 2026, to highlight new immunologic and biomarker data from its Phase 1 clinical trial of soquelitinib for atopic dermatitis. This data, which supports the potential for drug-free remissions, will also be presented in two oral sessions at the Society for Investigative Dermatology (SID) Annual Meeting on May 14 and May 16, 2026. Additionally, the company plans to report its first quarter 2026 financial results in a press release on May 7, 2026, without an accompanying conference call.