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Corvus Pharmaceuticals Inc (CRVS)
NASDAQ:CRVS
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Corvus Pharmaceuticals
(NASDAQ:CRVS)
41Neutral
Positive Factors
Clinical Trials
The planned release of updated results from the company’s Phase 1 study of soquelitinib in patients with moderate to severe atopic dermatitis could be a major catalyst for Corvus.
Drug Development
Soquelitinib's unique mechanism of action and oral delivery provide it with a competitive advantage in treating atopic dermatitis.
Financial Position
Corvus has reported having cash and cash equivalents of $52M, which is believed to be sufficient to fund operations through early 2026.
Negative Factors
Market Performance
The significant drop in CRVS shares may reflect market disappointment in soquelitinib's efficacy data compared to Dupixent and prior confident management comments.
Corvus Pharmaceuticals (CRVS) vs. S&P 500 (SPY)
Market Cap
$226.89M
Dividend YieldN/A
Average Volume (3M)769.03K
Price to Earnings (P/E)―
Beta (1Y)1.51
Revenue GrowthN/A
EPS Growth-71.53%
CountryUS
Employees31
SectorHealthcare
Sector Strength64
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.97
Shares Outstanding68,135,796
10 Day Avg. Volume867,593
30 Day Avg. Volume769,026
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
Price to Cash Flow (P/CF)-11.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$13.00Price Target Upside269.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Corvus Pharmaceuticals Business Overview & Revenue Model
Company DescriptionCorvus Pharmaceuticals, Inc., a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology therapies. Its lead product candidate is Mupadolimab (CPI-006), an anti-CD73 monoclonal antibody, which is in Phase Ib/II clinical trial for non-small cell lung cancer and head and neck cancers. The company also develops CPI-818, a covalent inhibitor of ITK, which is in Phase I/Ib clinical trial to treat patients with various malignant T-cell lymphomas, as well as designed to inhibit the proliferation of certain malignant T-cells; and Ciforadenant (CPI-444), an oral, small molecule antagonist of the A2A receptor that is in Phase II clinical trial for patients with either advanced or refractory renal cell cancer. Its preclinical stage products include CPI-182, an antibody designed to block inflammation and myeloid suppression; and CPI-935, an adenosine A2B receptor antagonist to prevent fibrosis. Corvus Pharmaceuticals, Inc. has a strategic collaboration with Angel Pharmaceuticals for the development its pipeline of targeted investigational medicines. The company was incorporated in 2014 and is based in Burlingame, California.
How the Company Makes MoneyCorvus Pharmaceuticals generates revenue primarily through the development and potential commercialization of its immuno-oncology drug candidates. The company typically seeks to advance its drug candidates through clinical trials and may enter into licensing agreements or partnerships with larger pharmaceutical companies to co-develop or market these treatments. Additionally, Corvus may receive milestone payments and royalties from its partners based on the success and sales of the developed drugs. Grants and research funding from governmental or non-profit organizations can also contribute to its revenue streams.
Corvus Pharmaceuticals Financial Statement Overview
Summary
Corvus Pharmaceuticals faces significant financial challenges with no revenue and ongoing losses. The balance sheet is stable with low leverage, but declining equity poses risks. Cash flow issues persist, driven by negative operational results and reliance on financing activities for liquidity.Income Statement
Corvus Pharmaceuticals has consistently reported zero revenue over the years, indicating a lack of commercial success or product launches. The company also reports significant net losses, with no visible improvement in net profit margin. The EBIT and EBITDA margins are non-existent due to the absence of revenue, highlighting ongoing operational challenges.20
Very Negative
Balance Sheet
The balance sheet shows a relatively low debt-to-equity ratio, suggesting limited leverage with a Total Debt of $1.12 million against a Stockholders' Equity of $32.57 million. Despite this, the equity ratio has declined, pointing to potential risks as liabilities increase. The company has a declining stockholders' equity over the years, indicating potential financial vulnerability.40
Negative
Cash Flow
The cash flow statement reveals negative operating and free cash flows, demonstrating cash burn with no revenue inflows. Despite a recent increase in financing cash flow, the reliance on external financing is a concern. Free cash flow remains negative, reflecting continuous operational cash challenges.30
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| 0.00 | -151.00K | -367.00K | -460.00K | -632.00K | EBIT |
| -27.55M | -23.41M | -32.56M | -38.63M | -43.76M | EBITDA |
| -27.55M | -26.88M | -40.94M | -42.78M | -5.36M | Net Income Common Stockholders |
| -62.29M | -27.03M | -50.05M | -38.20M | -4.82M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 51.96M | 27.15M | 42.30M | 69.45M | 44.26M | Total Assets |
| 68.91M | 45.55M | 68.24M | 109.45M | 85.53M | Total Debt |
| 1.12M | 1.37M | 2.60M | 3.65M | 2.31M | Net Debt |
| -7.62M | -11.25M | -10.56M | -59.81M | -14.14M | Total Liabilities |
| 36.34M | 6.87M | 12.13M | 12.29M | 13.38M | Stockholders Equity |
| 32.57M | 38.68M | 56.12M | 97.16M | 72.15M |
| Cash Flow | Free Cash Flow | |||
| -25.42M | -23.97M | -27.29M | -36.72M | -34.85M | Operating Cash Flow |
| -25.42M | -23.93M | -27.02M | -36.72M | -34.78M | Investing Cash Flow |
| -27.48M | 15.54M | -23.28M | 21.56M | 44.77M | Financing Cash Flow |
| 49.03M | 7.86M | 0.00 | 62.16M | 1.31M |
Corvus Pharmaceuticals Technical Analysis
Neutral
3.52
Price Trends
3.92
Negative
5.05
Negative
5.15
Negative
Market Momentum
-0.23
Negative
45.79
Neutral
87.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRVS, the sentiment is Neutral. The current price of 3.52 is above the 20-day moving average (MA) of 3.16, below the 50-day MA of 3.92, and below the 200-day MA of 5.15, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 45.79 is Neutral, neither overbought nor oversold. The STOCH value of 87.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CRVS.
Corvus Pharmaceuticals Risk Analysis
Corvus Pharmaceuticals disclosed 73 risk factors in its most recent earnings report. Corvus Pharmaceuticals reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Corvus Pharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $184.73M | ― | -85.03% | ― | -15.39% | 19.42% | |
51 Neutral | $5.20B | 3.18 | -40.80% | 2.96% | 17.66% | 1.94% | |
50 Neutral | $201.61M | ― | -154.01% | ― | 187.79% | 32.40% | |
46 Neutral | $284.55M | ― | -23.06% | ― | 177.89% | -10.95% | |
43 Neutral | $199.63M | ― | -41.48% | ― | 182.62% | -3.67% | |
41 Neutral | $226.89M | ― | -174.85% | ― | ― | -71.53% | |
36 Underperform | $224.78M | ― | -19.08% | ― | ― | 26.63% |
* Healthcare Sector Average
Performance Comparison
CRVS
Corvus Pharmaceuticals
3.52
2.01
133.11%
CDXS
Codexis
2.28
-0.52
-18.57%
OCGN
Ocugen
0.72
-0.46
-38.98%
ITOS
iTeos Therapeutics
7.45
-3.12
-29.52%
QSI
Quantum-Si
1.17
-0.50
-29.94%
DSGN
Design Therapeutics
3.96
0.31
8.49%
Corvus Pharmaceuticals Earnings Call Summary
Earnings Call Date: Mar 25, 2025 | % Change Since: -10.43% | Next Earnings Date: May 1, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed sentiment with notable progress in clinical trials, increased cash reserves, and strategic advancements offset by increased losses and expenses. While the company's financial health shows challenges, the advancements in drug development and potential future catalysts provide optimism.Highlights
Increased Cash Position
Corvus Pharmaceuticals ended 2024 with cash, cash equivalents, and marketable securities totaling $52 million, compared to $27.1 million at the end of 2023, providing cash runway into the first quarter of 2026.
Successful Clinical Trials with Socalitinib
Reported a 39% objective response rate and 26% complete response rate from the Phase 1 trial of socalitinib in relapsed T-cell lymphoma. Significant responses in atopic dermatitis with no patients achieving IGA zero or one or EASI 75 in the placebo group.
Phase 3 Trial Enrollment for Socalitinib
Enrolling a registrational Phase 3 trial of socalitinib in patients with relapsed peripheral T-cell lymphoma, with significant experience being applied to other programs.
Interim Data from Atopic Dermatitis Trial
Favorable safety and efficacy profile observed in Phase 1 trial for atopic dermatitis, with significant responses compared to placebo.
NIH Trial Initiation for ALPS
Initiated a Phase 2 trial of socalitinib in patients with autoimmune lymphoproliferative syndrome (ALPS) in collaboration with NIH.
Lowlights
Increased Net Loss
Net loss for the fourth quarter of 2024 was $12.1 million compared to $6.7 million for the same period in 2023. Full year 2024 net loss was $63.3 million, significantly higher than $27.0 million in 2023.
Increased R&D Expenses
Research and development expenses in the fourth quarter of 2024 increased to $5.2 million from $3.2 million in 2023, with full year R&D expenses rising to $19.4 million from $16.5 million in 2023.
Non-Cash Losses Related to Angel Pharmaceuticals
Non-cash losses related to Angel Pharmaceuticals amounted to $2.2 million in Q4 2024 and $3.2 million for the full year.
Company Guidance
During the Corvus Pharmaceuticals fourth quarter and full year 2024 business update, the company provided various financial and clinical metrics. Research and development expenses increased to $5.2 million in Q4 2024 from $3.2 million in Q4 2023, largely due to socalitinib clinical trial costs. The full-year R&D expenses were $19.4 million compared to $16.5 million in 2023. The company reported a net loss of $12.1 million in Q4 2024, up from $6.7 million in the prior year, impacted by non-cash losses related to Angel Pharmaceuticals and warrant liabilities. Full-year net loss was $63.3 million, compared to $27.0 million in 2023. As of December 31, 2024, cash and securities totaled $52 million, with the potential to increase by $41 million if all warrants are exercised. The company anticipates that their cash will support operations until Q1 2026. Clinically, socalitinib showed a 39% objective response rate in a Phase 1 trial for T-cell lymphoma and promising results in atopic dermatitis trials. Future plans include further trials for socalitinib across autoimmune and oncology indications, with significant data releases expected throughout 2025.Corvus Pharmaceuticals Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Corvus Pharmaceuticals Appoints New Director to Board
Positive
Apr 9, 2025
On April 8, 2025, Corvus Pharmaceuticals appointed Richard van den Broek as a Class II director, with his term expiring at the 2027 annual meeting. He was also appointed to the Audit and Nominating Committees. This strategic appointment is expected to strengthen the company’s governance and oversight, potentially impacting its operational effectiveness and stakeholder confidence.
Spark’s Take on CRVS Stock
According to Spark, TipRanks’ AI Analyst, CRVS is a Neutral.
Corvus Pharmaceuticals faces significant financial challenges, with no revenue and increasing losses. Technical indicators show a bearish trend, and valuation metrics are weak. However, the earnings call highlighted clinical advancements, which provide some optimism. Overall, the stock is rated at the lower end of the scale due to its financial difficulties and negative technical trends, with some potential upside from clinical developments.
To see Spark’s full report on CRVS stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.