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Corvus Pharmaceuticals Soars 34.03% on Positive Phase 1 Trial Results
Generated by AI AgentAinvest Movers Radar
Friday, May 9, 2025 6:02 am ET1min read
On May 9, 2025, Corvus Pharmaceuticals' stock surged by 34.03% in pre-market trading, driven by the release of interim results from its Phase 1 clinical trial for soquelitinib, a drug candidate for atopic dermatitis.
Corvus Pharmaceuticals reported interim results from the first three cohorts of its randomized, placebo-controlled Phase 1 clinical trial. The data demonstrated a favorable safety and efficacy profile, with earlier and deeper responses observed in Cohort 3 compared to Cohorts 1 and 2. This positive outcome has bolstered investor confidence in the company's lead drug candidate, soquelitinib, which is being developed for the treatment of atopic dermatitis.
CEO Richard Miller highlighted the promising results from the Phase 1 trial, noting significant efficacy in Cohort 3. The company's leadership team has emphasized the potential of soquelitinib across various indications, including atopic dermatitis and other immune-mediated diseases. The positive interim data has been well-received by the market, contributing to the stock's pre-market surge.
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