Corvus Pharma slips after launching $150 mln equity offering

Corvus Pharmaceuticals

20/01/2026 21:28

** Shares of Corvus Pharmaceuticals CRVS.O down 3.5% at $20.66 post-market as it seeks equity raise

** Biopharma firm commences $150 mln offering of stock and pre-funded warrants

** Co intends to use net offering proceeds for working capital and general purposes, including capex and R&D, including for its Phase 3 T cell lymphoma, and Phase 2 atopic dermatitis, hidradenitis suppurativa and asthma clinical trials

** CRVS shares on Tues soared 166% to close at about 7-yr high of $21.41 after co early Tues announced positive early-stage soquelitinib data for atopic dermatitis (eczema)

** Jefferies and Goldman Sachs are lead joint bookrunners for offering, joined by Mizuho

** South San Francisco, California-based CRVS has ~74.7 mln shares outstanding

** Stock gained 44% in 2025

** All 7 analysts are bullish on the stock; median PT $18, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))