Corvus prioritizes CPI-818; pauses mupadolimab Phase 2; Q2 net loss $8.4M

Corvus Pharmaceuticals, Inc.

2022-Q2 EPS reported -$0.36

Cash, cash equivalents and marketable securities $56.7M as of June 30, 2022, down from $69.5M at Dec 31, 2021.
Net loss $8.4M for Q2 2022 vs $11.8M for Q2 2021; R&D expenses fell to $4.9M from $9.1M.
CPI-818 200 mg cohort: 1 CR lasting 25 months, 1 nodal CR 16 months, 1 PR ongoing; no DLTs up to 600 mg.
Pausing start of randomized Phase 2 trial of mupadolimab in front-line NSCLC to focus on CPI-818 and conserve capital.
Expects cash runway into early 2024; full year 2022 net cash use $27-29M.

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