--- title: "Corvus Pharma | 10-Q: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/285657292.md" datetime: "2026-05-08T03:20:41.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285657292.md) - [en](https://longbridge.com/en/news/285657292.md) - [zh-HK](https://longbridge.com/zh-HK/news/285657292.md) --- # Corvus Pharma | 10-Q: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.15. EBIT: As of FY2026 Q1, the actual value is USD -16.66 M. Corvus Pharmaceuticals, Inc. operates as a single segment focused on the development and commercialization of drugs and antibodies targeting the immune system . #### Financial Performance - **Net Loss/Income**: Corvus Pharmaceuticals, Inc. reported a net loss of - $13,692 thousand for the three months ended March 31, 2026, compared to a net income of $15,193 thousand for the three months ended March 31, 2025, representing a year-over-year change of - $28,885 thousand . - **Loss from Operations**: The loss from operations was - $14,877 thousand for the three months ended March 31, 2026, compared to - $9,922 thousand for the same period in 2025 . - **Total Operating Expenses**: Total operating expenses increased by $4,955 thousand to $14,877 thousand for the three months ended March 31, 2026, from $9,922 thousand for the same period in 2025 . - **Research and Development (R&D) Expenses**: R&D expenses increased by $3,722 thousand to $11,175 thousand for the three months ended March 31, 2026, from $7,453 thousand in the prior year, primarily due to a $3.0 million increase in clinical trial expenses and a $0.7 million increase in other outside service costs for soquelitinib, partially offset by a $1.3 million decrease in drug manufacturing costs . Unallocated employee and overhead costs also increased by $1.3 million . - **General and Administrative (G&A) Expenses**: G&A expenses rose by $1,233 thousand to $3,702 thousand for the three months ended March 31, 2026, from $2,469 thousand in the previous year, mainly due to a $1.0 million increase in personnel and related costs and a $0.2 million increase in outside service costs . - **Interest Income and Other Expense, net**: Increased to $1,784 thousand for the three months ended March 31, 2026, from $525 thousand in the prior year, primarily due to higher interest income . - **Change in Fair Value of Warrant Liability**: Was $0 thousand for the three months ended March 31, 2026, as all common warrants had been exercised by June 30, 2025 . In the prior year, this was a gain of $25,129 thousand . - **Loss from Equity Method Investment**: Increased to - $599 thousand for the three months ended March 31, 2026, from - $539 thousand in the previous year, reflecting an increased loss from Angel Pharmaceuticals . - **Accumulated Deficit**: As of March 31, 2026, the accumulated deficit stood at - $426.0 million . #### Cash Flow - **Net Cash Used in Operating Activities**: - $10,374 thousand for the three months ended March 31, 2026, compared to - $8,263 thousand for the same period in 2025 . - **Net Cash Used in Investing Activities**: - $144,846 thousand for the three months ended March 31, 2026, primarily due to $161.7 million in purchases of marketable securities, partially offset by $17.0 million from maturities of marketable securities . The prior year saw $4,243 thousand provided by investing activities . - **Net Cash Provided by Financing Activities**: $190,746 thousand for the three months ended March 31, 2026, largely from $189.4 million in net proceeds from a public offering and $1.3 million from stock option exercises . This is significantly higher than the $279 thousand provided in the prior year . #### Liquidity and Capital Resources - **Cash, Cash Equivalents, and Marketable Securities**: Totaled $236.7 million as of March 31, 2026 . - **Follow-on Public Offering**: On January 23, 2026, Corvus Pharmaceuticals, Inc. completed a public offering, generating aggregate net proceeds of approximately $189.4 million . - **At-the-Market (ATM) Offering Program**: An Amended Sales Agreement on March 13, 2026, increased the maximum aggregate offering price for common stock sales through Jefferies LLC from $100.0 million to $200.0 million . As of March 31, 2026, $200.0 million remained available under this program, with no shares sold during the three months ended March 31, 2026 . #### Outlook and Strategy Corvus Pharmaceuticals, Inc. anticipates that its current cash, cash equivalents, and marketable securities of $236.7 million will be sufficient to fund its planned operations into the second quarter of 2028 . The company expects to continue incurring significant losses and negative cash flows as it advances its product candidates through clinical development, regulatory approval, and commercialization . 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