Corvus Pharmaceuticals Atopic Dermatitis Trial Data Drives Stock Price Higher

LootboxPhobia · 2026-03-12T21:07:57+00:00

Corvus Pharmaceuticals reported fourth quarter loss per share of $0.15, below expectations. Stock price rose 4.9% following soquelitinib clinical trial results. Plans to initiate Phase 2 trial for atopic dermatitis in 2026, with expected enrollment of 200 patients. Fourth quarter R&D expenses increased, with net loss slightly expanding.

LootboxPhobia

2026-03-12 21:07:57

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Investing.com – Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) reported a fourth-quarter loss of $0.15 per share, below analysts’ expected loss of $0.13 per share. The company did not report revenue data.

In after-hours trading on Thursday, the stock rose 4.9%, mainly driven by positive clinical trial data for soquelitinib in treating atopic dermatitis. The company announced results from its Phase 1, Group 4 trial, showing that 75% of patients achieved EASI 75, compared to only 20% in the placebo group. Additionally, 25% of patients reached EASI 90, and 33% achieved IGA 0/1, while the placebo group showed 0% on both measures.

Corvus launched a Phase 2 atopic dermatitis trial in Q1 2026, expected to recruit approximately 200 patients with moderate to severe atopic dermatitis. The trial includes four groups testing different dosing regimens, with a treatment period of 12 weeks.

Corvus co-founder, President, and CEO Richard A. Miller stated, “We believe that the data from the Phase 1, Group 4 atopic dermatitis trial indicates that soquelitinib has the potential to become an important new drug for a broad range of atopic dermatitis and other immune-related diseases.”

The company completed an initial public offering in January 2026, raising net proceeds of $189 million. As of December 31, 2025, Corvus had $56.8 million in cash, cash equivalents, and marketable securities, excluding proceeds from the January financing. The company expects its cash to support operations through Q2 2028.

Research and development expenses for the fourth quarter totaled $9.9 million, up from $6 million in the same period of 2024. For the full year 2025, R&D expenses were $33.7 million, compared to $19.4 million in 2024.

Net loss for the fourth quarter was $12.3 million, compared to $12.1 million in the same period last year.

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