Corvus Q4 net loss $12.3M; soquelitinib atopic dermatitis Ph1 75% EASI75; raises $189M

Corvus Pharmaceuticals, Inc.

Net loss for Q4 2025 was $12.3M; R&D expenses $9.9M (up from $6.0M in Q4 2024).
Cash $56.8M at Dec 31, 2025; $189.4M net from Jan 2026 offering extends runway into Q2 2028.
Cohort 4 atopic dermatitis: 75% soquelitinib patients achieved EASI 75 vs 20% placebo; 33% IGA 0/1 vs 0%.
Initiated Phase 2 atopic dermatitis trial in Q1 2026; ~200 patients, four dose arms, 12-week treatment.
Phase 3 PTCL registrational trial enrolling; soquelitinib granted Fast Track and Orphan Drug Designation.

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