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Corvus Pharmaceuticals, Inc. Company profile

About Corvus Pharmaceuticals Inc

Corvus Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company, which is engaged in the development and commercialization of precisely targeted oncology therapies. The Company develops drugs and antibodies that target the critical cellular elements of the immune system. The Company's lead product candidate is CPI-006, a potent humanized monoclonal antibody that is designed to react with a specific site on CD73. Its next product candidate, CPI-818, is a selective, covalent inhibitor of ITK. CPI-818 is designed to inhibit the proliferation of certain malignant T-cells. Its third product candidate, Ciforadenant is an oral, small molecule antagonist of the A2A receptor for adenosine. Its product candidate pipeline includes CPI-006, B-Cell Activating anti-CD73 antibody; CPI-818, ITK Inhibitor, Ciforadenant Adenosine A2A Receptor Antagonist; CPI-182, Anti-CXCR2 Antibody designed to block inflammation and Myeloid Suppression; and CPI-935, Adenosine A2B Receptor Antagonist.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Corvus Pharmaceuticals Inc revenues was not reported. Net loss increased from $6M to $43.2M. Higher net loss reflects Gain on deconsolidation of Angel Pharmac decrease from $37.5M (income) to $0K, Loss from equity method investment increase from $234K to $4.8M (expense). Basic Earnings per Share excluding Extraordinary Items decreased from -$0.20 to -$1.03.