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Corvus Pharmaceuticals Inc (CRVS)
NASDAQ:CRVS
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Corvus Pharmaceuticals
(NASDAQ:CRVS)
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Rating:41Neutral
Price Target:―
Corvus Pharmaceuticals exhibits significant financial difficulties with no revenue and increasing losses. Technical indicators show a bearish trend, and valuation metrics are weak. However, clinical advancements and strategic governance changes provide some optimism. Overall, the stock is rated at the lower end of the scale due to its financial challenges and negative technical trends, with potential upside from clinical developments.
Positive Factors
Clinical Advancements
The 39% objective response rate in Phase 1 trials for T-cell lymphoma shows strong potential for socalitinib, enhancing Corvus's drug pipeline and market prospects.
Cash Position
A strong cash position provides operational runway until Q1 2026, supporting ongoing R&D and strategic initiatives without immediate financial strain.
Strategic Leadership
The appointment of a new director enhances governance and oversight, potentially improving operational effectiveness and stakeholder confidence.
Negative Factors
Increasing Net Loss
Rising net losses indicate financial strain and highlight the need for successful commercialization of drug candidates to achieve profitability.
R&D Expenses
Higher R&D expenses reflect increased investment in drug development but also contribute to financial losses, stressing the importance of successful trial outcomes.
Cash Flow Challenges
Negative cash flows indicate reliance on external financing, posing risks to sustainability if clinical advancements do not lead to revenue generation.
Corvus Pharmaceuticals (CRVS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$640.02M
Dividend YieldN/A
Average Volume (3M)1.06M
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue GrowthN/A
EPS Growth79.27%
CountryUS
Employees31
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.12
Shares Outstanding74,681,870
10 Day Avg. Volume880,409
30 Day Avg. Volume1,060,458
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)10.02
Price to Sales (P/S)0.00
P/FCF Ratio-12.83
Enterprise Value/Market Cap0.85
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-14.23
Forecast
1Y Price Target
$13.33Price Target Upside55.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.43
Revenue Forecast (FY)$620.00K
Corvus Pharmaceuticals Business Overview & Revenue Model
Company DescriptionCorvus Pharmaceuticals (CRVS) is a biotechnology company focused on the development and commercialization of innovative immuno-oncology therapies. The company is engaged in the research and development of novel drugs designed to harness the immune system to treat cancer. Corvus Pharmaceuticals' core product pipeline includes small molecule and antibody therapies targeting various immune checkpoints and pathways crucial for cancer treatment.
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 Earnings Call Summary
Earnings Call Date:Nov 04, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 05, 2026
Earnings Call Sentiment Positive
The earnings call presented significant positive developments, including a notable reduction in net loss, a strong cash position, and successful clinical trial progress for soquelitinib. However, increased R&D expenses and delays in trial result reporting were challenges. Overall, the positive aspects, particularly related to clinical advancements and financial improvements, seem to outweigh the negatives.Q3-2025 Updates
Positive Updates
Significant Reduction in Net Loss
The net loss for Q3 2025 was $10.2 million, a substantial decrease from the $40.2 million loss in Q3 2024.
Strong Cash Position
Corvus had cash, cash equivalents, and marketable securities totaling $65.7 million as of September 30, 2025, up from $52 million at the end of 2024.
Successful Enrollment in Phase I Trial for Soquelitinib
Enrollment in the extension Cohort 4 of the Phase I trial for soquelitinib was completed, with results expected in January 2026.
Upcoming Phase II Trial for Atopic Dermatitis
The initiation of the Phase II atopic dermatitis trial for soquelitinib is on track for early Q1 2026, involving approximately 200 patients globally.
Positive Efficacy Data for Soquelitinib
Cohort 3 of the Phase I trial showed a mean percent reduction of EASI score of 64.8%, with notable patient responses.
Presentation at ASH for T Cell Lymphoma
The final results from the Phase I/Ib clinical trial of soquelitinib for relapsed/refractory T cell lymphomas will be presented at the ASH meeting in December.
Negative Updates
Increased Research and Development Expenses
R&D expenses in Q3 2025 were $8.5 million, up from $5.2 million in Q3 2024, primarily due to higher clinical trial and manufacturing costs.
Noncash Loss Related to Angel Pharmaceuticals
A noncash loss of $300,000 related to Angel Pharmaceuticals was reported in Q3 2025, compared to $700,000 in the same period in 2024.
Delayed Reporting of Phase I Trial Results
Results from the extension Cohort 4 of the Phase I trial for soquelitinib will not be reported until January 2026, delaying potential insights.
Company Guidance
During the Corvus Pharmaceuticals Third Quarter 2025 Business Update and Financial Results Conference Call, CFO Leiv Lea outlined key financial metrics, noting that research and development expenses totaled $8.5 million, a $3.3 million increase from the prior year, primarily due to costs associated with soquelitinib development. The net loss for Q3 2025 was $10.2 million, significantly reduced from a $40.2 million loss in Q3 2024. Stock compensation expenses rose to $1.2 million from $700,000. Corvus reported $65.7 million in cash and equivalents as of September 30, 2025, with current funds expected to support operations into Q4 2026. CEO Richard Miller discussed clinical progress, highlighting the completion of enrollment for extension Cohort 4 in a Phase I trial and the upcoming Phase II trial for atopic dermatitis, expected to begin in early Q1 2026.Corvus Pharmaceuticals Financial Statement Overview
Summary
Corvus Pharmaceuticals is facing 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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -632.00K |
| EBITDA | -38.34M | -27.46M | -23.26M | -32.20M | -38.17M | -5.36M |
| Net Income | -15.07M | -62.29M | -27.03M | -41.31M | -43.24M | -6.00M |
Balance Sheet | ||||||
| Total Assets | 80.47M | 68.91M | 45.55M | 68.24M | 109.45M | 85.53M |
| Cash, Cash Equivalents and Short-Term Investments | 65.69M | 51.96M | 27.15M | 42.30M | 69.45M | 44.26M |
| Total Debt | 1.01M | 1.12M | 1.37M | 2.60M | 3.65M | 2.31M |
| Total Liabilities | 8.71M | 36.34M | 6.87M | 12.13M | 12.29M | 13.38M |
| Stockholders Equity | 71.77M | 32.57M | 38.68M | 56.12M | 97.16M | 72.15M |
Cash Flow | ||||||
| Free Cash Flow | -32.22M | -25.42M | -23.97M | -27.29M | -36.72M | -34.85M |
| Operating Cash Flow | -32.07M | -25.42M | -23.93M | -27.02M | -36.72M | -34.78M |
| Investing Cash Flow | -24.76M | -27.48M | 15.54M | -23.28M | 21.56M | 44.77M |
| Financing Cash Flow | 55.02M | 49.03M | 7.86M | 0.00 | 62.16M | 1.31M |
Corvus Pharmaceuticals Technical Analysis
Positive
8.57
Price Trends
7.37
Positive
6.11
Positive
5.00
Positive
Market Momentum
0.42
Negative
59.92
Neutral
65.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRVS, the sentiment is Positive. The current price of 8.57 is above the 20-day moving average (MA) of 8.11, above the 50-day MA of 7.37, and above the 200-day MA of 5.00, indicating a bullish trend. The MACD of 0.42 indicates Negative momentum. The RSI at 59.92 is Neutral, neither overbought nor oversold. The STOCH value of 65.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $838.86M | 7.50 | 220.06% | ― | 79.13% | 2798.12% | |
55 Neutral | $501.89M | ― | -52.61% | ― | -61.54% | 31.25% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $714.13M | ― | -43.15% | ― | ― | -2.74% | |
41 Neutral | $640.02M | ― | -35.82% | ― | ― | 79.27% | |
40 Underperform | $317.09M | -1.30 | -74.88% | ― | ― | 18.39% | |
34 Underperform | $453.85M | -6.87 | -42.25% | ― | -100.00% | 1.47% |
* Healthcare Sector Average
CRVS
Corvus Pharmaceuticals
8.57
-0.36
-4.03%
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4.81
-3.76
-43.87%
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NGNE
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-10.13%
RCKT
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2.93
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ATXS
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12.51
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25.10%
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
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.