What were the key takeaways from Corvus's earnings call?

What were the key takeaways from Corvus’s earnings call?

What is Corvus's latest dividend and current dividend yield?

What is Corvus's gross profit margin?

What is the revenue and EPS growth rate for Corvus year over year?

What is the market's earnings forecast for Corvus next quarter?

What factors drove the changes in Corvus's revenue and profit?

What guidance did Corvus's management provide for the next earnings period?

- **Financial Stability**: $65.7M cash runway supports operations into 2026; R&D expenses up 63% due to soquelitinib trials.
- **Atopic Dermatitis Milestones**: Cohort 4 data (Jan 2026) and Phase II trial (Q1 2026) targeting JAK/Dupixent-refractory patients.
- **Oncology Momentum**: ASH presentation highlights soquelitinib's >12-month PFS in PTCL; Phase III interim data expected late 2026.
- **Strategic Growth**: Exploring asthma, HS, and other I&amp;I indications; new board member to guide commercialization.

**【CFO Financial Commentary】**
- Q3 2025 R&D expenses: $8.5M (vs. $5.2M in 2024), driven by soquelitinib clinical trials and manufacturing costs.
- Net loss: $10.2M (vs. $40.2M in 2024), with $300K non-cash loss from China partner.
- Cash reserves: $65.7M as of Q3 2025, sufficient for operations into Q4 2026.

**【CEO Business Update】**
- **Atopic Dermatitis Progress**: 
  - Phase I Cohort 4 (24 patients) completed enrollment; 8-week data to be reported in January 2026.
  - Cohort 3 showed 64.8% EASI reduction vs. 34% placebo; 50% of patients achieved EASI 75.
  - Phase II trial (200 patients) to begin Q1 2026, targeting JAK/Dupixent-refractory patients.
- **Oncology Update**: 
  - ASH 2025 oral presentation highlights soquelitinib's durability in relapsed PTCL (median PFS >12 months).
  - Phase III PTCL trial enrolling; interim data expected late 2026.
- **Strategic Expansion**: 
  - Exploring asthma, hidradenitis suppurativa, and other I&amp;I indications.
  - New board member, David Moore (Novo Nordisk), to advise on commercial strategy.

**【Q&A Highlights】**
- **Cohort 4 Expectations**: Seeking consistency with Cohort 3 data and potential improvement with extended dosing.
- **Phase II Design**: 12-week treatment duration; no subgroup powering for JAK/Dupixent failure.
- **Biomarker Strategy**: Focusing on single-cell RNA sequencing of blood for novel biomarkers.
- **Partnership Potential**: Open to licensing deals but prioritizing internal development of soquelitinib.
- **Oncology Outlook**: PTCL trial control arm expected median PFS of 2-3 months, vs. soquelitinib's >12-month PFS in Phase I.

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