Corvus Pharmaceuticals Q4 2022 Earnings Report
Key Takeaways
Corvus Pharmaceuticals reported its Q4 and full year 2022 financial results, highlighting the progress of CPI-818 and its potential across cancer and immune diseases. The company's cash balance was $42.3 million as of December 31, 2022, and anticipates funding operations into 2024.
Enrollment in the Phase 1/1b trial of CPI-818 in T cell lymphoma has accelerated, allowing for an increase in the number of patients treated at the optimum dose.
A predictive biomarker was identified that is believed to enrich for patients most likely to benefit from treatment with CPI-818.
Interim T cell lymphoma clinical data is expected at upcoming medical meetings, with additional preclinical data in solid tumors at the upcoming AACR meeting in April.
Clinical development of ciforadenant and mupadolimab are primarily being advanced and funded by partners.
Corvus Pharmaceuticals
Corvus Pharmaceuticals
Forward Guidance
Corvus expects full year 2023 net cash used in operating activities to be between approximately $19 million and $22 million, resulting in a projected cash balance of between $20 million and $23 million as of December 31, 2023. Based on its current plans, Corvus expects its cash to fund operations into 2024.