earnings
confidence high
sentiment positive
materiality 0.75
Corvus Q1 net income $15.2M; soquelitinib atopic derm cohort 3 EASI −71.1% vs placebo −42.1%
Corvus Pharmaceuticals, Inc.
2025-Q1 EPS reported
-$0.13
- Net income of $15.2M included $25.1M gain on warrant liability; R&D spend $7.5M vs $4.1M YoY.
- Cash $44.2M at Mar 31; May warrant exercises added ~$31.3M, extending runway into Q4 2026.
- Phase 1 atopic derm: cohort 3 (200 mg BID) achieved 71.1% mean EASI reduction vs 42.1% placebo; combined active vs placebo p=0.03.
- No placebo patient achieved IGA 0/1 or EASI 75; soquelitinib well tolerated with no DLTs.
- Protocol amended: replace cohort 4 with 24 patients (1:1 active/placebo) at 200 mg BID for 8 weeks; Phase 2 to start by year-end.