Corvus Pharma Q3 net loss narrows; R&D expenses rise

Corvus Pharmaceuticals reported a narrowed Q3 net loss of $10.2 million, down from $40.2 million in 2024, with R&D expenses rising to $8.5 million due to clinical trial costs. The company expects to fund operations into Q4 2026 and plans to initiate a Phase 2 trial for atopic dermatitis in early Q1 2026. Analysts maintain a "buy" rating, with a median 12-month price target of $14.00, reflecting a 45.1% upside from the recent closing price of $7.68.