Corvus Pharmaceuticals announces $150M common stock offering

Corvus Pharmaceuticals (CRVS) announced that it has commenced an underwritten public offering of $150M of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. All of the shares of common stock and pre-funded warrants to be sold in the offering will be offered by Corvus. Corvus currently expects to use the net proceeds from this offering for working capital and general corporate purposes, which may include capital expenditures and research and development, including for its Phase 3 T cell lymphoma, and Phase 2 atopic dermatitis, hidradenitis suppurativa and asthma clinical trials, sales and marketing and administrative expenses. Jefferies and Goldman Sachs & Co. are acting as lead book-running managers for the offering. Mizuho is acting as bookrunner for the offering. Ladenburg Thalmann is acting as co-manager for the offering.