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Mar 31, 2021
Corvus Pharmaceuticals Q1 2021 Earnings Report
Corvus Pharmaceuticals reported financial results for Q1 2021 and provided a business update.
Key Takeaways
Corvus Pharmaceuticals reported a net loss of $11.6 million for the first quarter ended March 31, 2021, and had cash, cash equivalents and marketable securities totaling $68.0 million as of the same date. The company is advancing its clinical programs, including a Phase 3 study of CPI-006 for COVID-19 and a Phase 2 study of CPI-818 for T cell lymphoma in partnership with Angel Pharmaceuticals.
Initiated Phase 3 clinical trial for CPI-006 in hospitalized patients with COVID-19, with enrollment expected by year end.
Angel Pharmaceuticals anticipates filing an IND in China in mid-2021 to begin a global Phase 2 trial of CPI-818 in patients with T cell lymphoma.
Advancing partnership with Angel Pharmaceuticals and plans to conduct additional trials with ciforadenant and CPI-006 for cancer.
Cash, cash equivalents and marketable securities totaled $68.0 million as of March 31, 2021.
Forward Guidance
Corvus expects full year 2021 net cash used in operating activities to be between $46 million and $48 million.
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