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Jun 30, 2024
Corvus Pharmaceuticals Q2 2024 Earnings Report
Corvus Pharmaceuticals reported financial results for the second quarter ended June 30, 2024.
Key Takeaways
Corvus Pharmaceuticals reported a net loss of $4.3 million for the second quarter of 2024, and had cash, cash equivalents and marketable securities of $47.2 million as of June 30, 2024. The company expects its cash to fund operations into the fourth quarter of 2025.
Early results from Soquelitinib Phase 1 randomized trial in atopic dermatitis demonstrate clinical activity.
Soquelitinib Registration Phase 3 Trial in Peripheral T Cell Lymphoma (PTCL) advancing toward initial enrollment in Q3 2024.
New complete response achieved in ongoing Phase 1/1b Clinical Trial.
Corvus expects full year 2024 net cash used in operating activities to be between approximately $24 million and $27 million.
Forward Guidance
Corvus expects full year 2024 net cash used in operating activities to be between approximately $24 million and $27 million, resulting in a projected cash balance of between approximately $31 million and $34 million at December 31, 2024. Based on its current plans, Corvus expects its cash to fund operations into the fourth quarter of 2025.
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