Corvus Pharmaceuticals, Inc. - CRVS STOCK NEWS

Corvus Pharmaceuticals (NASDAQ: CRVS) announced the publication of preclinical data for soquelitinib, their lead ITK inhibitor program, in npj Drug Discovery. The research demonstrates soquelitinib's potential as a novel approach to modulate tumor immunity through its mechanism of action - suppressing Th2 and Th17 cytokine production while sparing Th1 cytokines.

The data shows that soquelitinib increases effector function of cytotoxic CD8 positive T cells and enhances memory T cell function. The company is currently conducting a Phase 3 clinical trial for relapsed peripheral T cell lymphoma (PTCL) and a Phase 1 trial for atopic dermatitis, with plans to initiate another Phase 1 trial in solid tumors.

Corvus Pharmaceuticals announced new preclinical data showing that soquelitinib, their lead ITK inhibitor, could potentially prevent lung damage, inflammation, and pulmonary hypertension caused by systemic sclerosis. The study used Fra-2 transgenic mice, which mirror human systemic sclerosis features. After seven weeks of oral soquelitinib treatment, mice showed significant reduction in lung infiltration and fibrosis, improved clinical scores, reduced vascular smooth muscle hypertrophy, and lower right ventricular systolic blood pressure. These results were validated in a second bleomycin lung injury model.

Corvus Pharmaceuticals provided Q3 2024 updates on its clinical programs. The company is advancing two clinical trials for soquelitinib: a Phase 3 trial in Peripheral T Cell Lymphoma (PTCL) and a Phase 1 trial in atopic dermatitis, with interim data expected in December 2024. Financial highlights include cash position of $41.7M as of September 30, 2024, with an additional $5.9M from warrant exercises in October. Q3 net loss was $40.2M, including a $32.8M non-cash warrant liability loss. R&D expenses increased to $5.2M from $4.0M year-over-year. The company expects current cash to fund operations into 2026.

Corvus Pharmaceuticals (NASDAQ: CRVS) presented new data at SITC's 39th Annual Meeting showing ciforadenant's potential to overcome resistance to anti-PD1 immunotherapy in metastatic castration resistant prostate cancer (mCRPC). The research, selected as a Top 100 abstract, identified SPP1+ myeloid cells as critical mediators of immunotherapy resistance. Clinical trial results showed that when ciforadenant was combined with atezolizumab, 5 of 24 patients (21%) achieved PSA partial responses, compared to 1 of 11 (9%) with ciforadenant monotherapy. The study demonstrated that ciforadenant treatment reduced immunosuppression and enhanced sensitivity to anti-PD1 therapy.

Corvus Pharmaceuticals (NASDAQ: CRVS) announced it will host a conference call and webcast on November 12, 2024 at 4:30 pm ET to provide a business update and report third quarter 2024 financial results. The conference call can be accessed toll-free at 1-800-717-1738 (domestic) or 1-646-307-1865 (international). A live webcast will be available through the company's investor relations section, with a replay accessible for 90 days on Corvus' website.

Corvus Pharmaceuticals (NASDAQ: CRVS) has initiated a registrational Phase 3 clinical trial of soquelitinib for patients with relapsed/refractory peripheral T-cell lymphoma (PTCL). Soquelitinib, a potential first-in-class ITK inhibitor, has been granted Orphan Drug Designation and Fast Track Designation by the FDA. The trial will enroll approximately 150 patients across 40 sites in the US, Canada, Australia, and South Korea.

The randomized, controlled study will compare soquelitinib to standard chemotherapy, with a primary endpoint of progression-free survival. Soquelitinib's unique mechanism of action, based on selective ITK inhibition, shows potential for treating T cell lymphomas, solid tumors, and immune diseases. This trial marks a significant milestone for Corvus and PTCL patients, as there are currently no fully approved agents for relapsed PTCL treatment.

Corvus Pharmaceuticals (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference in New York from September 9-11, 2024. Richard A. Miller, M.D., president and CEO, and Jeffrey Arcara, chief business officer, will represent the company.

Key points:

• One-on-one meetings with investors scheduled
• Corporate overview presentation on September 10 at 12:00pm ET
• Live webcast available, accessible for 90 days post-event
• Webcast link provided in the investor relations section of Corvus website

This conference participation highlights Corvus Pharmaceuticals' efforts to engage with investors and showcase their latest developments in the biopharmaceutical industry.

Corvus Pharmaceuticals (CRVS) provided a Q2 2024 business update, highlighting progress in its soquelitinib (ITK inhibitor) program. Early results from the Phase 1 trial in atopic dermatitis showed clinical activity and cytokine changes consistent with ITK inhibition. The company is advancing toward initial enrollment in a Phase 3 trial for peripheral T cell lymphoma (PTCL) in Q3 2024. In the ongoing Phase 1/1b PTCL trial, soquelitinib demonstrated a 39% objective response rate, including 26% complete responses. Corvus reported $47.2 million in cash as of June 30, 2024, expecting to fund operations into Q4 2025. The company anticipates 2024 net cash used in operating activities between $24-$27 million.

Corvus Pharmaceuticals (Nasdaq: CRVS) has received FDA Fast Track Designation for soquelitinib, targeting adult patients with relapsed or refractory peripheral T cell lymphoma (PTCL) after at least two lines of systemic therapy. This designation underscores the significant unmet need in PTCL treatment, where current options offer efficacy and high toxicity. Corvus is on track to initiate patient enrollment in a registrational Phase 3 trial for PTCL in Q3 2024.

The Fast Track program aims to expedite development and review of drugs addressing serious conditions and unmet medical needs. Soquelitinib has also received FDA Orphan Drug Designation for T cell lymphoma treatment, providing benefits such as tax credits and seven years of post-approval marketing exclusivity.