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

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

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

Did Corvus beat or miss consensus estimates last quarter?

What is Corvus's gross profit margin?

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

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

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

- **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.

Corvus Pharmaceuticals, Inc. (CRVS) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CRVS

CRVS fundamentals

You can ask Aime