Corvus Pharmaceuticals
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Corvus Pharmaceuticals (CRVS) investor relations material

Corvus Pharmaceuticals Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary5 Nov, 2026

Executive summary

  • Soquelitinib development spans PTCL, atopic dermatitis, hidradenitis suppurativa, asthma and ALPS, with multiple clinical milestones planned for 2027.

  • Phase 3 PTCL and Phase 2 SIERRA1 atopic dermatitis trials remained on track; SIERRA1 top-line data are expected in Q3 2027.

  • No product sales revenue has been generated.

Financial highlights

  • Q3 2026 R&D expense was $17.8M vs. $8.5M in Q3 2025, mainly reflecting higher soquelitinib trial and personnel costs; Q3 operating expenses were $21.4M vs. $10.6M.

  • Q3 2026 net loss was $20.3M vs. $10.2M; nine-month net loss was $52.0M vs. $3.0M, with the prior-year period including a $27.1M warrant fair-value gain.

  • Q3 net loss per share was $0.22 vs. $0.12; nine-month net loss per share was $0.57 vs. $0.04 basic and $0.38 diluted in 2025.

  • Q3 stock-based compensation was $2.8M vs. $1.2M; nine-month expense was $8.1M vs. $3.8M.

  • Nine-month operating cash use was $38.0M; investing cash use was $143.3M, including $239.9M of securities purchases and $102.3M of maturities.

Outlook and guidance

  • $202.9M in cash, cash equivalents and marketable securities at September 30, 2026, is expected to fund planned operations into Q2 2028.

  • PTCL event-driven futility analysis is expected in Q1 2027; trial readout is anticipated in late 2027/early 2028.

  • SIERRA1 top-line data are expected in Q3 2027; a Phase 3 start in 2028 is possible if results support advancement.

  • HS Phase 1b results are expected in 1H 2027; soquelitinib Phase 2 asthma trial initiation is planned for Q1 2027, enrolling T2 and non-T2 patients.

  • Angel Pharmaceuticals’ China atopic dermatitis cohort 1 results are expected in Q1 2027; its Phase 2 asthma trial is anticipated to start in Q2 2027.

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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.