Loading...
•
Jun 30, 2023
Corvus Pharmaceuticals Q2 2023 Earnings Report
Corvus Pharmaceuticals reported financial results for the second quarter ended June 30, 2023.
Key Takeaways
Corvus Pharmaceuticals reported a net loss of $6.5 million for the second quarter of 2023, with cash, cash equivalents, and marketable securities totaling $37.0 million as of June 30, 2023. The company anticipates its cash will fund operations into the second half of 2024.
Continued to strengthen the scientific and clinical foundation for the potential use of soquelitinib for a variety of cancers.
Remains on track to meet with the FDA this quarter to discuss a potential registrational Phase 3 clinical trial with soquelitinib in relapsed T cell lymphomas (TCL).
Planning to initiate clinical studies with soquelitinib in solid tumors.
Enrollment is ongoing in clinical trials evaluating partner led programs, ciforadenant and mupadolimab.
Forward Guidance
Corvus expects full year 2023 net cash used in operating activities to be between approximately $20 million and $22 million, resulting in a projected cash balance of between $28 million and $30 million as of December 31, 2023. Based on its current plans, Corvus expects its cash to fund operations into the second half of 2024.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...