Corvus Pharma Q3 net loss narrows; R&D expenses rise

Corvus Pharmaceuticals

04/11/2025 21:24

Overview

Corvus Q3 net loss narrows to $10.2 mln from $40.2 mln in 2024

R&D expenses rise to $8.5 mln in Q3 due to clinical trial costs

Corvus expects cash to fund operations into Q4 2026

Outlook

Corvus expects to initiate atopic dermatitis Phase 2 trial in early Q1 2026

Company anticipates reporting Phase 1 trial results in January 2026

Corvus expects cash reserves to fund operations into Q4 2026

Result Drivers

R&D EXPENSES - Increase in R&D expenses due to higher clinical trial and manufacturing costs for soquelitinib

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
-$0.12
Q3 Net Income
-$10.15 mln
Q3 Basic EPS
-$0.12
Q3 Operating Expenses
$10.57 mln
Q3 Operating Income
-$10.57 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Corvus Pharmaceuticals Inc is $14.00, about 45.1% above its November 3 closing price of $7.68

Press Release: ID:nGNX2Fy3p

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)