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Corvus Pharmaceuticals (CRVS) investor relations material
Corvus Pharmaceuticals Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Advanced soquelitinib development in atopic dermatitis and T-cell lymphomas, with key milestones including completion of phase I extension cohort, upcoming phase II trial in early Q1 2026, and ongoing phase III PTCL trial with interim data expected in late 2026.
Final results from phase 1b T-cell lymphoma trial to be presented at ASH in December 2025.
Pipeline includes ciforadenant and mupadolimab, both in clinical development.
No product revenue to date; operations funded primarily through equity offerings and warrant exercises.
Continued collaboration with NIAID for ALPS Phase 2 trial and progress on next-generation ITK inhibitor candidates.
Financial highlights
Research and development expenses for Q3 2025 were $8.5 million, up from $5.2 million in Q3 2024, mainly due to higher clinical trial and manufacturing costs for soquelitinib.
Net loss for Q3 2025 was $10.2 million, significantly reduced from $40.2 million in Q3 2024, which included a $32.8 million non-cash warrant liability loss.
Cash, cash equivalents, and marketable securities totaled $65.7 million as of September 30, 2025, up from $52 million at year-end 2024.
Stock compensation expense was $1.2 million in Q3 2025, up from $0.7 million in Q3 2024.
Accumulated deficit reached $400.0 million as of September 30, 2025.
Outlook and guidance
Cash runway expected to fund operations into Q4 2026; additional capital will be required for ongoing and planned clinical trials.
Phase II atopic dermatitis trial to begin in early Q1 2026, enrolling ~200 patients globally, including those who failed prior systemic therapies.
Phase III PTCL trial continues enrollment, with interim data anticipated in late 2026 and full data by end of 2027.
No revenue expected until regulatory approval and commercialization of product candidates.
Plans to expand soquelitinib into additional immune-related diseases, with asthma and another dermatologic condition under consideration.
Phase II AD: Efficacy bar for Dupi/JAK failures?
PTCL: Competitive landscape and market potential?
Funding strategy for expanded I&I pipeline
Expected EASI score improvement in Cohort 4?
ASH data's impact on broad PTCL use?
Funding strategy for multiple new indications
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Next Corvus Pharmaceuticals earnings date
Guggenheim Securities 2nd Annual Healthcare Innovation Conference10 Nov, 2025
Next Corvus Pharmaceuticals earnings date
Guggenheim Securities 2nd Annual Healthcare Innovation Conference10 Nov, 2025
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Frequently asked questions
Corvus Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company focused on developing immune-oncology therapies for the treatment of cancer and immune-related diseases. The company’s pipeline includes drug candidates that target key immune pathways to enhance the body’s immune response against cancer cells. The company is headquartered in Burlingame, California, and its shares are listed on the NASDAQ.
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