Corvus Pharmaceuticals, Inc.
- Open
- 14.74
- Day high
- 15.86
- Day low
- 14.74
- Prev close
- 14.94
- Volume
- 1.1M
- Mkt cap
- $1.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 5.2
- P/S
- —
- Yield
- —
- Per share
- —
- ▲Insiders net buying $334K over the last 3 months (3 open-market buys, 0 sales)
- 🏛Institutions accumulating (13F)
Corvus Pharmaceuticals, Inc. (CRVS) is a Healthcare company listed on NASDAQ. The stock is up 287% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 0 sales (SEC Form 4).
Corvus Pharmaceuticals, Inc. (CRVS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CRVS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-0.14 | $-0.15 | -7.1% | — | — |
| Mar 12, 2026 | $-0.13 | $-0.15 | -15.9% | — | — |
| Nov 4, 2025 | $-0.14 | $-0.12 | +14.3% | — | — |
| Aug 7, 2025 | $-0.13 | $-0.10 | +23.1% | — | — |
| May 8, 2025 | $-0.13 | $-0.13 | +0.0% | — | — |
| Mar 25, 2025 | $-0.12 | $-0.18 | -50.0% | — | — |
| Mar 19, 2024 | $-0.14 | $-0.14 | +0.0% | $246000 | — |
| Nov 3, 2022 | $-0.16 | $-0.32 | -100.0% | — | — |
| May 5, 2022 | $-0.14 | $-0.18 | -28.6% | — | — |
| Mar 10, 2022 | $-0.20 | $-0.20 | +0.0% | — | — |
| Apr 29, 2021 | $-0.33 | $-0.34 | -3.0% | — | — |
| Mar 25, 2021 | $-0.32 | $-0.35 | -9.4% | — | — |
CRVS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 15, 2026 | Grais Lindadirector | Grant | 15,000 | $11.60 |
| Jun 15, 2026 | Moore David Scottdirector | Buy | 21,700 | $11.53 |
| Jun 15, 2026 | Moore David Scottdirector | Grant | 15,000 | $11.60 |
| Jun 15, 2026 | CLARK IAN Tdirector | Grant | 15,000 | $11.60 |
| Jun 15, 2026 | van den Broek Richarddirector | Grant | 15,000 | $11.60 |
| Jun 15, 2026 | Thompson Peter A.director, 10 percent owner: | Grant | 15,000 | $11.60 |
| May 20, 2026 | MILLER RICHARD A MDdirector, officer: President and CEO | Buy | 5,000 | $12.05 |
| May 20, 2026 | MILLER RICHARD A MDdirector, officer: President and CEO | Buy | 1,932 | $12.01 |
| Apr 27, 2026 | Chan Andrew C.director | Grant | 30,000 | $16.02 |
| Jan 30, 2026 | Thompson Peter A.director, 10 percent owner: | Option | 30,000 | $15.00 |
| Jan 30, 2026 | Thompson Peter A.director, 10 percent owner: | Option | 15,000 | $2.12 |
| Dec 8, 2025 | MILLER RICHARD A MDdirector, officer: President and CEO | Grant | 1,000,000 | $8.81 |
| Dec 8, 2025 | Jones William Bentonofficer: See Remarks | Grant | 400,000 | $8.81 |
| Dec 8, 2025 | LEA LEIVofficer: Chief Financial Officer | Grant | 400,000 | $8.81 |
| Dec 8, 2025 | Arcara Jeffreyofficer: Chief Business Officer | Grant | 100,000 | $8.81 |
Source: CRVS SEC Form 4 filings, latest Jun 15, 2026. For informational purposes only — not investment advice.
See the full CRVS insider & 13F page →Corvus Pharmaceuticals, Inc. company profile
Overview
Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) is a clinical-stage biopharmaceutical company founded in 2014 and headquartered in Burlingame, California. The company went public in March 2016 and focuses on developing novel immuno-oncology and immunology therapies. Corvus specializes in targeting specific pathways that regulate immune system function, with particular expertise in developing small molecule inhibitors and monoclonal antibodies for cancer and autoimmune diseases.
Business
Corvus Pharmaceuticals operates in the biotechnology sector, specifically within the immuno-oncology and immunology therapeutic areas. The company develops treatments that modulate the immune system to fight cancer and treat autoimmune conditions. The company's pipeline centers around several key therapeutic approaches. Soquelitinib (CPI-818) is their lead compound, an oral small molecule that inhibits ITK (interleukin-2-inducible T-cell kinase), a protein that plays a crucial role in T-cell activation and proliferation. This drug is currently in Phase III trials for peripheral T-cell lymphoma (PTCL), a rare and aggressive blood cancer, and Phase I trials for atopic dermatitis, a chronic inflammatory skin condition. The ITK inhibition mechanism works by selectively targeting malignant T-cells in cancer while potentially reducing inflammatory responses in autoimmune diseases. Ciforadenant (CPI-444) represents another significant program - an oral adenosine A2A receptor antagonist currently in Phase II trials for renal cell cancer. Adenosine A2A receptors suppress immune responses in the tumor microenvironment, so blocking these receptors can help restore the immune system's ability to attack cancer cells. The company also develops Mupadolimab (CPI-006), an anti-CD73 monoclonal antibody designed to block the production of adenosine, which tumors use to suppress immune responses. This program is primarily being developed through partnerships in international markets. Based on recent financial reports, the oncology programs appear to represent the majority of the company's research focus and investment, with the soquelitinib PTCL program being the most advanced and likely representing the largest portion of current development spending.
Revenue model
Corvus Pharmaceuticals operates on a traditional biotech business model focused on drug development and eventual commercialization. The company currently generates no revenue from product sales, as all their compounds are still in clinical development phases. Their business model relies on raising capital through equity financing and potential partnerships to fund research and development activities until they can bring products to market. The company's primary revenue opportunity will come from product sales once they achieve regulatory approval. For their lead program soquelitinib in PTCL, management has indicated that existing treatments in this market are priced between $200,000 to $600,000 annually, suggesting significant revenue potential given the orphan drug designation and limited competition in this rare disease area. Corvus also pursues strategic partnerships and collaborations, such as their arrangement with Angel Pharmaceuticals, which can provide upfront payments, milestone payments, and royalties on sales. These partnerships help reduce development costs and risks while providing validation of their scientific approach. Several factors could significantly impact the company's margins and success. Positive clinical trial results, particularly from their Phase III PTCL trial, would dramatically increase the company's value and potential revenue. Regulatory approvals, especially with orphan drug designations that provide market exclusivity, would create substantial pricing power. Conversely, negative clinical results, increased competition from larger pharmaceutical companies developing similar mechanisms, or regulatory setbacks could severely impact their prospects. The company's cash burn rate and ability to secure additional financing also directly affects their ability to complete expensive late-stage clinical trials, with their current cash position providing runway into late 2024 based on historical burn rates.
Competitive moat
Corvus Pharmaceuticals operates in a highly competitive biotechnology landscape with limited sustainable competitive advantages typical of early-stage biotech companies. Their primary potential moat lies in their scientific expertise and intellectual property around ITK inhibition, particularly with soquelitinib representing a first-in-class oral ITK inhibitor with demonstrated clinical activity. The company's strongest defensive position comes from their orphan drug designation for soquelitinib in T-cell lymphomas, which would provide seven years of market exclusivity upon approval. The rare disease focus in PTCL also creates a smaller, more defensible market with high barriers to entry due to the specialized knowledge required and limited patient populations for conducting trials. However, the company's moat is relatively weak compared to established pharmaceutical companies. They lack significant patent portfolios, established manufacturing capabilities, or regulatory relationships that larger competitors possess. The biotechnology sector is characterized by rapid innovation, and larger pharmaceutical companies with greater resources could potentially develop competing mechanisms or acquire rival companies with superior compounds. The competitive threat is particularly acute given that major pharmaceutical companies like Pfizer, Bristol Myers Squibb, and others are actively developing immuno-oncology treatments. These companies have substantially greater financial resources, established regulatory pathways, and marketing capabilities that could quickly erode any first-mover advantage Corvus might achieve. Additionally, the company's dependence on external partnerships for manufacturing and commercialization further limits their control over their competitive position.
Risks & safety
Corvus Pharmaceuticals presents a moderate margin of safety profile typical of clinical-stage biotechnology companies, with both strengths and significant risks. • **Cash Position**: $44.2 million in cash as of Q1 2025, bolstered by $31.3 million from recent warrant exercises, providing extended runway through clinical trials • **Debt Level**: Minimal debt with debt-to-equity ratio of only 0.023, indicating strong balance sheet health • **Current Ratio**: Strong liquidity at 4.90, demonstrating ability to meet short-term obligations • **Cash Burn**: Approximately $8.3 million quarterly operating cash outflow, suggesting current cash provides roughly 5-6 quarters of runway • **Valuation Metrics**: Trading at 3.77x trailing P/E ratio due to one-time gains, but underlying business remains pre-revenue with ongoing losses • **Clinical Risk**: Primary safety concern lies in binary clinical trial outcomes, particularly the Phase III PTCL trial which represents the company's most significant near-term value driver • **Financing Risk**: Will likely need additional capital before achieving profitability, though recent warrant exercises have improved their financial position significantly
Recent development
Over the past few years, Corvus has undergone a strategic transformation focusing their resources on their most promising programs while advancing toward potential commercialization. The company's most significant pivot has been the prioritization of soquelitinib development, transitioning from early-stage research to late-stage clinical trials. In 2024, Corvus achieved a major milestone by initiating their Phase III registrational trial for soquelitinib in peripheral T-cell lymphoma, following encouraging Phase I results showing 39% objective response rates and 26% complete response rates. This represents their first potential path to market approval and commercial revenue. Simultaneously, the company has expanded soquelitinib's potential by entering the immunology space with a Phase I trial in atopic dermatitis. Early results have been promising, with 63% of patients in the highest dose cohort achieving EASI 75 (a measure of symptom improvement) and plans to initiate Phase II trials by year-end 2025. This diversification strategy reduces their dependence on oncology alone and opens access to much larger patient populations. The company has also streamlined their portfolio by pausing development of less promising programs like mupadolimab in the US market while maintaining international partnerships. They've strengthened their business development capabilities by appointing Jeff Arcara as Chief Business Officer and actively pursuing partnerships, particularly for their ITK inhibitor platform in autoimmune diseases. Recent strategic moves include initiating a Phase II trial in Autoimmune Lymphoproliferative Syndrome (ALPS), a rare genetic disorder, demonstrating their commitment to leveraging soquelitinib across multiple indications. The company has also been developing next-generation ITK inhibitors designed for more precise immune system modulation, positioning them for sustained competitive advantage beyond their current lead compound.
CRVS company profile · for informational purposes only — not investment advice.
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