Corvus Pharmaceuticals Inc (FRA:C17)
€ 5.05 -0.32 (-5.96%) Market Cap: 319.26 Mil Enterprise Value: 279.03 Mil PE Ratio: 0 PB Ratio: 26.26 GF Score: 33/100
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Q3 2024 Corvus Pharmaceuticals Inc Earnings Call Transcript

Nov 12, 2024 / 09:30 PM GMT
Release Date Price: €8.92 (-0.89%)

Key Points

Positve
  • Corvus Pharmaceuticals Inc (CRVS) has initiated a registration phase three trial for peripheral T cell lymphoma (PTCL), which is enrolling patients and progressing as planned.
  • The company has a strong cash position with $41.7 million in cash, cash equivalents, and marketable securities, providing a financial runway into 2026.
  • Corvus Pharmaceuticals Inc (CRVS) is advancing its lead program, Socolit, in multiple fronts, including a phase one trial for atopic dermatitis, which has shown no safety signals in the initial cohort.
  • The company has received orphan drug designation and fast track designation from the FDA for Socolit in the treatment of relapsed T cell lymphoma.
  • Corvus Pharmaceuticals Inc (CRVS) is exploring a broad range of indications for its ITK inhibitors, including asthma, psoriasis, scleroderma, inflammatory bowel disease, and fibrotic diseases, supported by promising preclinical data.
Negative
  • Corvus Pharmaceuticals Inc (CRVS) reported a significant net loss of $40.2 million for the third quarter of 2024, compared to a $6 million loss in the same period in 2023.
  • The company recorded a non-cash loss of $32.8 million from the change in fair value of its warrant liability during the third quarter of 2024.
  • Research and development expenses increased to $5.2 million in the third quarter of 2024, up from $4 million in the same period in 2023, primarily due to increased clinical trial expenses.
  • The phase one trial for atopic dermatitis is still in early stages, with only the first cohort fully enrolled and follow-up data pending for subsequent cohorts.
  • There is uncertainty regarding the optimal dosing for Socolit in atopic dermatitis, as the disease differs from lymphoma, and the company is still determining the best dose through ongoing trials.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CRVS.OQ - Corvus Pharmaceuticals Inc
Q3 2024 Corvus Pharmaceuticals Inc Earnings Call
Nov 12, 2024 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, everyone. And thank you for standing by and welcome to the Corus Pharmaceuticals third quarter, 2024 business update and financial results conference call. At this time, all participants are in a listen-only mode later, we will conduct a question and answer session and instructions will follow at that time. It is now my pleasure to turn the call over to Mr Zach Youbo of Free Chemistry. Please go ahead sir.

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Unidentified_2 [2]
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Thank you operator and good afternoon everyone. Thanks for joining us for the Corvus Pharmaceuticals
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