Corvus Pharmaceuticals (CRVS) investor relations material

Executive summary

• Focused on advancing soquelitinib, a first-in-class selective ITK inhibitor, across multiple indications including PTCL, atopic dermatitis, hidradenitis suppurativa, asthma, and ALPS, with Phase 3 and Phase 2 trials ongoing and additional studies planned.

• Pipeline also includes ciforadenant (A2A receptor antagonist) and mupadolimab (anti-CD73 antibody), both in clinical development.

• Strategic collaboration with Angel Pharmaceuticals in China to accelerate development and expand data sets, including parallel and new trials.

• No product revenue to date; operations funded primarily through equity offerings and warrant exercises.

Financial highlights

• R&D expenses for Q2 2026 were $16 million, up from $7.9 million in Q2 2025, mainly due to increased clinical trial and personnel costs.

• Net loss for Q2 2026 was $18 million, compared to $8 million in Q2 2025; six-month net loss was $31.7 million, with prior year including $27.1 million non-operating income.

• Cash, cash equivalents, and marketable securities totaled $215.2 million as of June 30, 2026, including $189.4 million in net proceeds from a Q1 follow-on offering.

• Stock compensation expense for Q2 2026 was $2.6 million, up from $1.3 million in Q2 2025.

• Accumulated deficit reached $443.9 million as of June 30, 2026.

Outlook and guidance

• Cash position expected to fund operations into Q2 2028; additional capital will be needed for full development and commercialization.

• Anticipated completion of enrollment for the phase II atopic dermatitis trial in early 2027, with top-line data in Q3 2027.

• Interim futility analysis for the phase III PTCL trial expected in Q1 2027; final data projected for late 2027.

• Planned initiation of phase II asthma and phase Ib hidradenitis suppurativa trials before year-end 2026.

• Results from Angel Pharma’s Phase 1b atopic dermatitis trial anticipated late 2026; Phase 2 asthma trial in China expected to initiate in early 2027.