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CRVS

Corvus Pharmaceuticals, Inc.

CRVS

Corvus Pharmaceuticals, Inc. • NASDAQ
$9.17 ▲ 1.10% (+0.10)
Market Cap $684.51 M
52w High $9.32
52w Low $2.54
Dividend Yield 0%
P/E -16.98
Volume 334.83K
Outstanding Shares 74.65M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $10.572M ▲ $-10.157M ▼ 0% $-0.12 ▼ $-10.129M ▲
Q2-2025 $0 $10.26M ▲ $-7.998M ▼ 0% $-0.1 ▼ $-10.231M ▼
Q1-2025 $0 $9.922M ▲ $15.193M ▲ 0% $0.21 ▲ $-9.9M ▼
Q4-2024 $0 $8.105M ▲ $-12.113M ▲ 0% $-0.18 ▲ $-8.085M ▼
Q3-2024 $0 $7.255M $-40.217M 0% $-0.6 $-7.234M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $65.689M ▼ $80.474M ▼ $8.706M ▼ $71.768M ▼
Q2-2025 $74.407M ▲ $89.461M ▲ $9.233M ▼ $80.228M ▲
Q1-2025 $44.212M ▼ $59.438M ▼ $10.113M ▼ $49.325M ▲
Q4-2024 $51.964M ▲ $68.907M ▲ $36.339M ▼ $32.568M ▲
Q3-2024 $41.651M $58.815M $46.406M $12.409M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-10.157M ▼ $-9.566M ▼ $-2.618M ▲ $360K ▼ $-11.824M ▼ $-9.566M ▼
Q2-2025 $-7.998M ▼ $-5.777M ▲ $-20.301M ▼ $35.77M ▲ $9.692M ▲ $-5.89M ▲
Q1-2025 $15.193M ▲ $-8.263M ▲ $4.243M ▲ $279K ▼ $-3.741M ▼ $-8.299M ▲
Q4-2024 $-12.113M ▲ $-8.465M ▼ $-6.083M ▼ $18.608M ▲ $4.06M ▲ $-8.465M ▼
Q3-2024 $-40.217M $-6.321M $-3.89M $50K $-10.161M $-6.321M

Five-Year Company Overview

Income Statement

Income Statement Corvus is still a pure research-stage biotech, so it has not generated product revenue over the past several years. Its income statement is driven almost entirely by R&D and operating expenses, which result in steady losses each year. Those losses have been relatively stable in size, but they did widen most recently, suggesting some pickup in spending or one-time charges. Overall, the company remains in an investment phase where costs meaningfully exceed any income, and profitability depends entirely on future drug approvals or partnerships.

Balance Sheet

Balance Sheet The balance sheet is small and lean, reflecting a compact clinical-stage company. Total assets and cash have trended down from earlier years, pointing to ongoing use of resources to fund trials. The company carries no financial debt, which simplifies the capital structure and interest burden, but also means it relies mainly on equity or partnerships for new funding. Shareholders’ equity is positive but has been shrinking, a sign that cumulative losses are eating into the capital base. The combination of modest cash and declining equity highlights a need for eventual fresh capital if development continues at the current pace.

Cash Flow

Cash Flow Cash flow is consistently negative, driven by operating outflows to fund clinical and research activities. There is essentially no capital spending, so free cash flow mirrors the operating cash burn. While the burn rate has not exploded, it has been persistent over many years with no offsetting inflows from product sales. This pattern is typical for early-stage biotech but underscores ongoing dependency on external financing or upfront payments from collaborations to sustain operations.

Competitive Edge

Competitive Edge Scientifically, Corvus is positioned around a focused and differentiated niche: targeted immune modulation, particularly through ITK inhibition, as well as the adenosine pathway and CD73. The lead candidate, soquelitinib, benefits from a first-in-class profile, FDA fast track and orphan designations, and a long patent runway, which together can create a meaningful competitive edge if clinical results are strong. The company also has proprietary know‑how in ITK biology and biomarker approaches like its adenosine gene signature, which are not trivial for competitors to replicate quickly. At the same time, Corvus is small, has no approved products, and operates in crowded oncology and immunology spaces where larger players with deeper resources are active, leaving its ultimate competitive standing highly dependent on upcoming trial outcomes.

Innovation and R&D

Innovation and R&D Innovation is clearly Corvus’s core strength. The company is building a platform around precise T‑cell modulation, with soquelitinib as the flagship, followed by next‑generation ITK inhibitors tailored for specific immune conditions. Additional assets targeting the adenosine pathway (ciforadenant) and CD73 (mupadolimab) broaden the pipeline and provide multiple shots on goal across cancer and immune‑mediated diseases. The use of biomarkers and dual‑mechanism antibodies suggests a sophisticated R&D strategy rather than a single‑asset bet. However, all key programs are still in clinical testing, so the scientific promise has not yet translated into commercial validation, and trial readouts over the next couple of years will be pivotal. Partnerships like the one in China help extend the R&D reach but are still early in their potential impact.

Summary

Corvus is a classic clinical‑stage biotech: science‑heavy, revenue‑light, and financially dependent on external capital while it advances its pipeline. The company’s financial statements show ongoing operating losses, modest and declining cash resources, and no debt, all consistent with a lean organization focused on drug development rather than commercialization. The real story sits in the lab and the clinic: a first‑in‑class ITK inhibitor with supportive regulatory designations, backed by a broader immunotherapy pipeline and strong patent protection. The opportunity is meaningful if key trials succeed, but the risks are equally clear—continued cash burn, a small capital base, intense competition, and the binary nature of clinical outcomes. Overall, Corvus offers a concentrated exposure to a specific immunology and oncology thesis, with significant scientific upside balanced by substantial financial and development uncertainty.

NEWS

November 4, 2025 · 4:01 PM UTC

Corvus Pharmaceuticals Provides Business Update and Reports Third Quarter 2025 Financial Results

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October 31, 2025 · 7:30 AM UTC

Corvus Pharmaceuticals to Present at the Guggenheim 2nd Annual Healthcare Innovation Conference

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October 28, 2025 · 4:01 PM UTC

Corvus Pharmaceuticals to Provide Business Update and Third Quarter 2025 Financial Results on November 4, 2025

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October 17, 2025 · 10:00 AM UTC

Corvus Pharmaceuticals Announces Presentation of Interim Data from the Phase 1b/2 Clinical Trial of Ciforadenant for Patients with Metastatic Renal Cell Cancer at the European Society for Medical Oncology (ESMO) Congress 2025

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October 2, 2025 · 4:01 PM UTC

Corvus Pharmaceuticals Appoints David Moore to Board of Directors

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