Overview

* Corvus Q3 net loss narrows to $10.2 mln from $40.2 mln in 2024

* R&D expenses rise to $8.5 mln in Q3 due to clinical trial costs

* Corvus expects cash to fund operations into Q4 2026

Outlook

* Corvus expects to initiate atopic dermatitis Phase 2 trial in early Q1 2026

* Company anticipates reporting Phase 1 trial results in January 2026

* Corvus expects cash reserves to fund operations into Q4 2026

Result Drivers

* R&D EXPENSES - Increase in R&D expenses due to higher clinical trial and manufacturing costs for soquelitinib

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$0.12

Q3 Net -$10.15

Income mln

Q3 Basic -$0.12

EPS

Q3 $10.57

Operatin mln

g

Expenses

Q3 -$10.57

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Corvus Pharmaceuticals Inc ( CRVS ) is $14.00, about 45.1% above its November 3 closing price of $7.68

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)