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Corvus Q1 FY26 results: net loss widens to $13.7 million; R&D expense rises to $11.2 million

PUBT·05/07/2026 20:06:12
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Corvus Q1 FY26 results: net loss widens to $13.7 million; R&D expense rises to $11.2 million
  • Corvus Pharmaceuticals posted a net loss of USD 13.7 million for first-quarter 2026, turning from net income of USD 15.2 million a year earlier.
  • Research and development expenses climbed 49% to USD 11.2 million, due to higher soquelitinib clinical trial costs and increased personnel-related costs.
  • Cash, cash equivalents, and marketable securities jumped to USD 236.7 million as of March 31, 2026, reflecting about USD 189.4 million in net proceeds from a Jan. 23 financing; runway expected into second-quarter 2028.
  • Soquelitinib Phase 2 atopic dermatitis trial initiated, targeting about 200 patients across three dose arms and placebo with 12 weeks of treatment and a 90-day off-treatment follow-up.
  • Richard A. Miller said momentum remains strong for soquelitinib, with new immunologic and biomarker data supporting potential drug-free remissions slated for presentation at the SID annual meeting.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Corvus Pharmaceuticals Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202605071601PRIMZONEFULLFEED9715844) on May 07, 2026, and is solely responsible for the information contained therein.