Corvus Pharmaceuticals Raises $201M in Upsized Public Offering, Expects to Use Proceeds for Working Capital and Clinical Trials.

Corvus Pharmaceuticals has closed an upsized public offering of common stock, generating gross proceeds of approximately $201M. The offering consisted of 9,085,778 shares at $22.15 per share, with the full exercise of the underwriters' option to purchase an additional 1,185,101 shares. The company plans to use the net proceeds for working capital and general corporate purposes, including research and development for its Phase 3 T-cell lymphoma and Phase 2 atopic dermatitis, hidradenitis suppurativa, and asthma clinical trials.