Corvus Pharmaceuticals Q1 swings to loss as R&D costs rise

Corvus Pharmaceuticals

07/05/2026 21:15

Overview

U.S. biopharma firm's Q1 net loss contrasts with net income a year earlier

Research and development expenses rose due to higher clinical trial and personnel costs

Company ended Q1 with $236.7 mln in cash after January financing

Outlook

Corvus expects cash, cash equivalents and marketable securities to fund operations into Q2 2028

Result Drivers

CLINICAL TRIAL COSTS - Co said higher research and development expenses were mainly due to increased clinical trial costs for soquelitinib

PERSONNEL EXPENSES - Co reported higher personnel-related costs contributed to increased research and development spending

Company press release: ID:nGNX2p2xYK

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.15


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 $31.50, about 103.9% above its May 6 closing price of $15.45

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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.)