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Corvus Pharmaceuticals Inc (CRVS)
NASDAQ:CRVS
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Corvus Pharmaceuticals
(NASDAQ:CRVS)
Rating:41Neutral
Price Target:―
Positive Factors
Drug Efficacy
Analysts believe that soquelitinib could become one of the best AD therapies on the market based on the results from the latest patient cohort.
Financial Outlook
Corvus has reported having cash and cash equivalents of $52M, which is believed to be sufficient to fund operations through early 2026.
Market Potential
Positive data in atopic dermatitis could open opportunities for soquelitinib in other immune diseases, potentially boosting CRVS shares.
Negative Factors
Investor Confidence
There is a lack of investor confidence that higher dose data will show improved results, contributing to the stock's decline.
Stock Price Performance
The significant drop in CRVS shares is seen as an overreaction, potentially due to market disappointment with soquel's efficacy compared to Dupixent.
Corvus Pharmaceuticals (CRVS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$317.71M
Dividend YieldN/A
Average Volume (3M)776.66K
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue GrowthN/A
EPS Growth-71.53%
CountryUS
Employees31
SectorHealthcare
Sector Strength46
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.13
Shares Outstanding77,114,640
10 Day Avg. Volume954,917
30 Day Avg. Volume776,659
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.71
Price to Sales (P/S)0.00
P/FCF Ratio-1.45
Enterprise Value/Market Cap0.50
Enterprise Value/Revenue320.52
Enterprise Value/Gross Profit-7.51K
Enterprise Value/Ebitda-1.48
Forecast
1Y Price Target
$13.00Price Target Upside208.79% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
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 Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 25.67%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook for Corvus Pharmaceuticals, with significant net income growth, successful warrant exercises boosting cash position, and promising Phase 1 trial results for soquelitinib. Despite the increase in R&D expenses and a decrease in cash reserves, the company's financial position remains robust, supported by the recent warrant exercise.Q1-2025 Updates
Positive Updates
Significant Increase in Net Income
Corvus Pharmaceuticals reported a net income of $15.2 million for Q1 2025, compared to a net loss of $5.7 million in Q1 2024, largely due to a $25.1 million noncash gain from changes in the fair value of warrant liability.
Successful Warrant Exercise
Holders of 8,945,000 common stock warrants exercised all their warrants, resulting in cash proceeds of approximately $31.3 million, extending operational funding into Q4 2026.
Encouraging Phase 1 Trial Results for Soquelitinib
Phase 1 trials for soquelitinib in atopic dermatitis showed promising safety and efficacy, with Cohort 3 achieving a 71.1% mean reduction in EASI score and 63% of patients achieving EASI 75.
Strong Cash Position
As of March 31, 2025, Corvus had cash, cash equivalents, and marketable securities totaling $44.2 million, with additional warrant proceeds increasing this amount.
Negative Updates
Increase in Research and Development Expenses
R&D expenses increased to $7.5 million in Q1 2025 from $4.1 million in Q1 2024, primarily due to higher clinical trial and manufacturing costs.
Decrease in Cash Reserves
Cash reserves decreased from $52 million on December 31, 2024, to $44.2 million on March 31, 2025, before accounting for warrant proceeds.
Company Guidance
During the Corvus Pharmaceuticals First Quarter 2025 Business Update and Financial Results Conference Call, the company provided comprehensive guidance on their financial performance and clinical trial advancements. The research and development expenses for Q1 2025 increased to $7.5 million compared to $4.1 million in Q1 2024, due to higher clinical trial and manufacturing costs. Net income for Q1 2025 was $15.2 million, benefiting from a $25.1 million noncash gain from the change in fair value of Corvus' warrant liability. As of March 31, 2025, Corvus had $44.2 million in cash and equivalents, with additional $31.3 million from exercised warrants expected to fund operations into Q4 2026. The company reported encouraging Phase 1 data for soquelitinib in atopic dermatitis, highlighting favorable safety and efficacy, particularly in Cohort 3, which showed a 71.1% reduction in EASI scores. This data supports the potential for longer treatment duration to improve outcomes, leading to protocol amendments for an extended cohort and plans for a Phase 2 trial initiation by year-end. The guidance reflects ongoing efforts to advance soquelitinib across multiple fronts, including the registrational Phase 3 trial for T-cell lymphoma and a Phase 2 trial for autoimmune lymphoproliferative syndrome (ALPS), with potential initial ALPS data by late 2025 or early 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 | -21.00K | 0.00 | -151.00K | -367.00K | -460.00K | -632.00K |
| EBITDA | -31.13M | -27.55M | -26.88M | -40.94M | -42.78M | -5.36M |
| Net Income | -41.40M | -62.29M | -27.03M | -41.31M | -43.24M | -6.00M |
Balance Sheet | ||||||
| Total Assets | 59.44M | 68.91M | 45.55M | 68.24M | 109.45M | 85.53M |
| Cash, Cash Equivalents and Short-Term Investments | 44.21M | 51.96M | 27.15M | 42.30M | 69.45M | 44.26M |
| Total Debt | 1.15M | 1.12M | 1.37M | 2.60M | 3.65M | 2.31M |
| Total Liabilities | 10.11M | 36.34M | 6.87M | 12.13M | 12.29M | 13.38M |
| Stockholders Equity | 49.33M | 32.57M | 38.68M | 56.12M | 97.16M | 72.15M |
Cash Flow | ||||||
| Free Cash Flow | -28.57M | -25.42M | -23.97M | -27.29M | -36.72M | -34.85M |
| Operating Cash Flow | -28.53M | -25.42M | -23.93M | -27.02M | -36.72M | -34.78M |
| Investing Cash Flow | -23.23M | -27.48M | 15.54M | -23.28M | 21.56M | 44.77M |
| Financing Cash Flow | 49.31M | 49.03M | 7.86M | 0.00 | 62.16M | 1.31M |
Corvus Pharmaceuticals Technical Analysis
Positive
4.21
Price Trends
3.76
Positive
3.94
Positive
5.31
Negative
Market Momentum
0.10
Positive
55.28
Neutral
67.51
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 4.21 is above the 20-day moving average (MA) of 4.05, above the 50-day MA of 3.76, and below the 200-day MA of 5.31, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 55.28 is Neutral, neither overbought nor oversold. The STOCH value of 67.51 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
Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ¥346.03B | 10.53 | -2.88% | 2.63% | 11.67% | -7.08% | |
59 Neutral | $370.67M | ― | -40.23% | ― | 167.94% | -3.66% | |
54 Neutral | $303.71M | ― | -248.97% | ― | 86.63% | 22.29% | |
47 Neutral | $224.24M | ― | -22.59% | ― | ― | 26.63% | |
46 Neutral | $207.94M | ― | -115.53% | ― | -32.89% | -5.03% | |
41 Neutral | $317.71M | ― | -100.13% | ― | ― | -71.53% | |
41 Neutral | $384.27M | ― | -23.68% | ― | ― | 14.60% |
* Healthcare Sector Average
Performance Comparison
CRVS
Corvus Pharmaceuticals
4.21
2.39
131.32%
CDXS
Codexis
2.52
-0.58
-18.71%
OCGN
Ocugen
1.03
-0.52
-33.55%
ITOS
iTeos Therapeutics
10.02
-4.82
-32.48%
QSI
Quantum-Si
2.05
1.00
95.24%
DSGN
Design Therapeutics
3.82
0.47
14.03%
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.