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.
)
Overview
- Corvus Q3 net loss narrows to $10.2 mln from $40.2 mln in 2024
- R&D expenses rise to $8.5 mln in Q3 due to clinical trial costs
- Corvus expects cash to fund operations into Q4 2026
Outlook
- Corvus expects to initiate atopic dermatitis Phase 2 trial in early Q1 2026
- Company anticipates reporting Phase 1 trial results in January 2026
- Corvus expects cash reserves to fund operations into Q4 2026
Result Drivers
- R&D EXPENSES - Increase in R&D expenses due to higher clinical trial and manufacturing costs for soquelitinib
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 EPS -$0.12
Q3 Net -$10.15
Income mln
Q3 Basic -$0.12
EPS
Q3 $10.57
Operatin mln
g
Expenses
Q3 -$10.57
Operatin mln
g Income
Analyst Coverage
- The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 7 “strong buy” or “buy”, no “hold” and no “sell” or “strong sell”
- The average consensus recommendation for the biotechnology & medical research peer group is “buy”
- Wall Street’s median 12-month price target for Corvus Pharmaceuticals Inc is $14.00, about 45.1% above its November 3 closing price of $7.68
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
