Corvus Pharmaceuticals Q2 2020 Earnings Report
Key Takeaways
Corvus Pharmaceuticals reported a net loss of $10.6 million for the second quarter of 2020, compared to a net loss of $13.0 million for the same period in 2019. The company's cash, cash equivalents, and marketable securities totaled $59.3 million as of June 30, 2020.
Advanced clinical oncology programs, including new data at ASCO on ciforadenant in renal cell cancer.
Planning to meet with the FDA to discuss a pivotal study of ciforadenant in renal cell cancer.
Largely completed enrollment in Phase 1/1b studies for CPI-006 and CPI-818, with updated results expected later this year.
Added a fourth program utilizing CPI-006 for treatment of patients with mild-to-moderate COVID-19.
Corvus Pharmaceuticals
Corvus Pharmaceuticals
Forward Guidance
Corvus expects net cash used in operating activities for the second half of 2020 to be between $12 million and $14 million resulting in a cash balance of between $47 million and $45 million at December 31, 2020.