Earnings ·
Reports Q3 net loss of $20.3M on higher R&D costs; cash position rises to $202.9 million
CRVSCorvus Pharmaceuticals, Inc.
Corvus Pharmaceuticals reported a net loss of $20.3 million, or $0.22 per share, for the third quarter ended September 30, 2026, compared to a net loss of $10.2 million in the prior-year period. The increase was driven by research and development expenses rising to $17.8 million from $8.5 million due to higher clinical trial costs for soquelitinib and increased personnel costs. General and administrative expenses also rose to $3.6 million from $2.1 million. As of September 30, the company held cash, cash equivalents, and marketable securities of $202.9 million, up from $56.8 million at year-end 2025, largely due to net proceeds from a January financing. This balance provides operating runway into the second quarter of 2028. The company is a clinical-stage biopharmaceutical firm developing ITK inhibitors for immune diseases and cancer.