Corvus Q2 net loss $11.8M; discontinues COVID-19 trial, cuts cash burn guidance

Corvus Pharmaceuticals, Inc.

2022-Q2 EPS reported -$0.61

Cash, equivalents and marketable securities $66.5M at June 30, 2021, up from $44.3M at Dec 31, 2020.
Net loss $11.8M for Q2 2021 vs $10.6M in Q2 2020; R&D expenses $9.1M (up $1.2M YoY).
Discontinued Phase 3 mupadolimab COVID-19 trial in July 2021 (no safety/efficacy issue); full-year cash burn guidance cut ~$11M to $35-37M.
Enrolling Phase 1b/2 trial of mupadolimab plus pembrolizumab in HPV+ oropharyngeal cancer; results expected by year-end 2021.
Angel Pharmaceuticals filed IND in China for CPI-818 Phase 2 in T-cell lymphomas; ciforadenant Phase 2 RCC trial planned with Kidney Cancer Consortium.

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