Corvus Pharmaceuticals, Inc. CRVS
We are a clinical stage biopharmaceutical company developing product candidates that precisely target proteins that are critical to immune cell maturation and function. We believe our proprietary product candidates have broad potential to address immune mediated diseases, inflammatory diseases and cancers.
Our lead product candidate, soquelitinib (formerly CPI-818), is designed to bind specifically to a protein, interleukin 2 inducible T cell kinase (ITK), involved in T cell activation, T cell receptor signaling and T cell differentiation and function. Based on the proposed mechanism of action, we believe soquelitinib has the potential to be utilized to inhibit the production of a number of inflammatory cytokines involved in diseases such as atopic dermatitis, hidradenitis suppurativa, asthma, psoriasis and fibrotic diseases. In preclinical studies, Soquelitinib has affected T cell differentiation leading to enhanced function of T cells involved in tumor cell eradication.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D | $33.7M | $19.4M | $16.5M | $24.5M | $29.1M | $31.8M | $38.0M | $38.6M | $46.3M | $29.4M |
| SG&A | $9.3M | $8.2M | $6.9M | $8.1M | $9.5M | $11.9M | $10.9M | $10.6M | $10.2M | $7.6M |
| Total operating expenses | $43.0M | $27.5M | $23.4M | $32.6M | $38.6M | $43.8M | $48.9M | $49.2M | $56.5M | $37.0M |
| Operating income | -$43.0M | -$27.5M | -$23.4M | -$32.6M | -$38.6M | -$43.8M | -$48.9M | -$49.2M | -$56.5M | -$37.0M |
| Pre-tax income | -$13.3M | -$59.1M | -$21.7M | -$31.3M | -$43.2M | -$6.0M | -$46.7M | -$46.9M | -$55.7M | -$36.4M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$15.3M | -$62.3M | -$27.0M | -$41.3M | -$43.2M | -$6.0M | -$46.7M | -$46.9M | -$55.7M | -$36.4M |
| EPS, basic | -0.19 | -1.02 | -0.56 | -0.89 | -1.03 | -0.20 | -1.59 | — | — | — |
| EPS, diluted | -0.53 | -1.02 | -0.56 | -0.89 | -1.03 | -0.20 | -1.59 | -1.71 | -2.72 | -2.36 |
| Shares, diluted (wtd. avg.) | $79.7M | $61.0M | $48.0M | $46.6M | $41.9M | $29.5M | $29.3M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.6M | $8.7M | $12.6M | $13.2M | $63.5M | $16.5M | $5.2M | $39.2M | $45.1M | $5.0M |
| Short-term investments | $52.2M | $43.2M | — | — | — | — | — | — | — | — |
| Receivables | $37.0K | $75.0K | $26.0K | $588.0K | — | — | — | — | — | — |
| Total current assets | $58.2M | $54.4M | $28.0M | $43.7M | $71.3M | $45.3M | $79.3M | $115.6M | $91.2M | $136.0M |
| Property, plant and equipment | $220.0K | $151.0K | $236.0K | $353.0K | $451.0K | $906.0K | $1.5M | $2.2M | $2.7M | $3.2M |
| Total assets | $71.1M | $68.9M | $45.6M | $68.2M | $109.5M | $85.5M | $83.6M | $118.2M | $94.8M | $140.2M |
| Accounts payable | $2.5M | $2.6M | $1.5M | $2.0M | $1.6M | $3.5M | $2.4M | $2.0M | $3.5M | $1.9M |
| Total current liabilities | $9.4M | $35.4M | $6.9M | $10.8M | $9.7M | $12.1M | $10.2M | $7.0M | $9.0M | $5.9M |
| Total liabilities | $9.9M | $36.3M | $6.9M | $12.1M | $12.3M | $13.4M | $12.5M | $7.9M | $9.9M | $7.3M |
| Retained earnings | -$412.3M | -$397.0M | -$334.7M | -$307.7M | -$266.4M | -$223.1M | -$217.1M | -$170.5M | -$123.5M | -$67.9M |
| Total equity | $61.2M | $32.6M | $38.7M | $56.1M | $97.2M | $72.1M | $71.1M | $110.3M | $84.8M | $132.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$32.8M | -$25.4M | -$23.9M | -$27.0M | -$36.7M | -$34.8M | -$37.3M | -$41.0M | -$46.2M | -$27.9M |
| Depreciation and amortisation | $105.0K | $85.0K | $151.0K | $367.0K | $460.0K | $632.0K | $743.0K | $847.0K | $842.0K | $594.0K |
| Stock-based compensation | $5.3M | $3.0M | $2.1M | $2.7M | $4.2M | $5.7M | $7.3M | $7.1M | $6.2M | $3.8M |
| Capital expenditure | $174.0K | — | $34.0K | $269.0K | $5.0K | $76.0K | $25.0K | $355.0K | $266.0K | $2.2M |
| Investing cash flow | -$7.8M | -$27.5M | $15.5M | -$23.3M | $21.6M | $44.8M | $3.3M | -$30.2M | $84.8M | -$42.6M |
| Financing cash flow | $36.4M | $49.0M | $7.9M | $0 | $62.2M | $1.3M | $24.0K | $65.3M | $1.4M | $71.4M |
| Dividends paid | $0 | $0 | $0 | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-048595.
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