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Dec 31, 2024
Corvus Pharmaceuticals Q4 2024 Earnings Report
Corvus Pharmaceuticals reported its Q4 2024 results, highlighting increased R&D expenses and a widened net loss as the company advanced multiple clinical trials.
Key Takeaways
Corvus Pharmaceuticals posted a net loss of $12.1 million in Q4 2024, driven by higher R&D spending and changes in warrant liabilities. The company ended the quarter with $52 million in cash, funding operations into Q1 2026, while continuing to progress key clinical programs.
Corvus reported a net loss of $12.1 million in Q4 2024, up from $6.7 million year-over-year.
R&D expenses increased to $6.0 million, reflecting ongoing clinical trial investments.
Cash, cash equivalents, and marketable securities totaled $52.0 million as of December 31, 2024.
The company recorded a $2.3 million non-cash loss from changes in warrant liability value during the quarter.
Corvus Pharmaceuticals
Corvus Pharmaceuticals
Forward Guidance
Corvus anticipates its cash reserves will fund operations into Q1 2026 and continues to advance clinical development programs across oncology and immunology indications.
Positive Outlook
- Strong cash position of $52 million to support clinical progress.
- Advancement of Phase 3 trial for soquelitinib in PTCL.
- Ongoing Phase 1 trial for atopic dermatitis showing promising interim results.
- Early data supports safety and efficacy for multiple indications.
- Collaboration with NIAID and other partners enhancing development pipeline.
Challenges Ahead
- Widened net loss compared to prior year quarter.
- Increased R&D expenses impacting operating results.
- Non-cash losses from warrant liabilities adding to reported loss.
- Ongoing clinical trials require significant investment.
- No reported revenue as development-stage operations continue.