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Jun 30, 2022
Corvus Pharmaceuticals Q2 2022 Earnings Report
Corvus Pharmaceuticals reported financial results for the second quarter ended June 30, 2022 and provided a business update.
Key Takeaways
Corvus Pharmaceuticals reported a net loss of $8.4 million for the second quarter ended June 30, 2022, compared to a net loss of $11.8 million for the same period in 2021. As of June 30, 2022, Corvus had cash, cash equivalents and marketable securities totaling $56.7 million and expects its cash to fund operations into early 2024.
Prioritizing the development of CPI-818 for T Cell Lymphomas, Autoimmune and Allergic Diseases.
Plans to begin Phase 2 Clinical Trial of Ciforadenant in Front Line Renal Cell Cancer (RCC) in partnership with Kidney Cancer Consortium in Q3 2022.
Pausing start of randomized Phase 2 Clinical Trial of Mupadolimab in Lung Cancer and extends cash runway into early 2024.
Angel Pharmaceuticals is enrolling patients with relapsed T cell lymphomas (TCL) in Phase 1/1b trial evaluating single agent therapy with CPI-818.
Forward Guidance
Corvus expects full year 2022 net cash used in operating activities to be between $27 million and $29 million, resulting in a projected cash balance of between $40.5 million and $42.5 million as of December 31, 2022. Based on its current plans, the Company expects its cash to fund operations into early 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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