Corvus Pharmaceuticals, Inc.

Listed Company

CRVSCIK 0001626971NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-15.28M

Total Assets

$71.12M

Equity

$61.20M

Shares Out

83.99M

Op. Cash Flow

$-32.80M

Business

Corvus Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing product candidates that precisely target proteins critical to immune cell maturation and function, with a focus on immuno-oncology and immune-mediated/inflammatory diseases. Its main product candidates include soquelitinib (an ITK inhibitor), ciforadenant (an adenosine A2A receptor antagonist) and mupadolimab (an anti-CD73 antibody), all in clinical development. The company organizes activities around its product pipeline, clinical development programs, intellectual property licensing and collaborations. It conducts clinical trials and research internationally and relies on third-party contract manufacturers and academic partners for development, manufacturing and distribution.

Summary from filing dated 2025-03-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	34	19	17	24	29
General and administrative	9	8	7	8	10
Total operating expenses	43	28	23	33	39
Loss from operations	−43	−28	−23	−33	−39
Interest income and other expense, net	3	2	2	654,000	—
Gain from sale of property and equipment	—	5,000	—	22,000	—
Change in fair value of warrant liability	27	−33	—	—	—
Loss before equity method investment	−13	−59	−22	−31	—
Loss from equity method investment	−2	−3	−5	−10	—
Net loss	−15	−62	−27	−41	−43
Net loss per share, basic	−0.19	−1.02	−0.56	−0.89	−1.03
Net loss per share, diluted	−0.53	−1.02	−0.56	−0.89	−1.03
Shares used to compute net loss per share, basic	79	61	48	47	42
Shares used to compute net loss per share, diluted	80	61	48	47	42
Unrealized gain (loss) on marketable securities	−17,000	65,000	66,000	−48,000	−7,000
Cumulative foreign currency translation adjustment	409,000	−386,000	−470,000	−2	2
Comprehensive loss	−15	−63	−27	−44	−41

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	5	9	13	13	63
Marketable securities	52	43	—	—	—
Accounts receivable	37,000	75,000	26,000	588,000	—
Prepaid and other current assets	1	2	781,000	773,000	1
Total current assets	58	54	28	44	71
Property and equipment, net	220,000	151,000	236,000	353,000	451,000
Operating lease right-of-use asset	839,000	1	1	2	3
Investment in Angel Pharmaceuticals	11	13	16	22	34
Other assets	855,000	632,000	89,000	129,000	236,000
Total assets	71	69	46	68	109
Accounts payable	2	3	2	2	2
Operating lease liability	403,000	185,000	1	1	1
Accrued and other liabilities	6	4	4	—	—
Warrant liability	—	29	—	—	—
Total current liabilities	9	35	7	11	10
Operating lease liability	534,000	937,000	—	1	3
Total liabilities	10	36	7	12	12
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock: $0.0001 par value; 10,000,000 shares authorized at December 31, 2025 and December 31, 2024; 0 shares issued and outstanding at each of December 31, 2025 and December 31, 2024	—	—	0	—	—
Common stock: $0.0001 par value; 290,000,000 shares authorized at December 31, 2025 and December 31, 2024; 74,696,629 and 67,899,779 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	7,000	7,000	5,000	5,000	5,000
Additional paid-in capital	474	431	—	—	—
Accumulated other comprehensive loss	−896,000	−1	−967,000	−563,000	2
Accumulated deficit	−412	−397	−335	−308	−266
Total stockholders' equity	61	33	39	56	97
Total liabilities and stockholders' equity	71	69	46	68	109

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−15	−62	−27	−41	−43
Depreciation and amortization	105,000	85,000	151,000	367,000	460,000
Accretion related to marketable securities	−1	−1	−894,000	−170,000	—
Stock-based compensation	5	3	2	3	4
Prepaid and other current assets	941,000	−2	−8,000	581,000	−277,000
Operating lease right-of-use asset	338,000	−28,000	1	973,000	178,000
Other assets	−223,000	−543,000	40,000	107,000	—
Accounts payable	−91,000	1	−451,000	411,000	−2
Accrued and other liabilities	3	−245,000	−4	467,000	−523,000
Operating lease liability	−185,000	−252,000	−1	−1	—
Net cash used in operating activities	−33	−25	−24	−27	−37
Purchases of marketable securities	−92	−70	−47	−66	−9
Maturities of marketable securities	84	43	63	43	31
Purchases of property and equipment	−174,000	—	−34,000	−269,000	−5,000
Proceeds from sale of property and equipment	—	5,000	—	22,000	—
Net cash provided by (used in) investing activities	−8	−27	16	−23	22
Proceeds from issuance of common stock, net (includes $1,794 in aggregate gross proceeds from related parties)	—	16	—	—	32
Proceeds from issuance of pre-funded warrants, net (includes $1,769 in aggregate gross proceeds from related parties)	—	5	—	—	—
Proceeds from issuance of common warrants (includes $1,472 in aggregate gross proceeds from related parties)	—	9	—	—	—
Proceeds from the exercise of common stock warrants (includes $4,960 in aggregate gross proceeds from related parties for the year ended December 31, 2025)	36	19	—	—	—
Proceeds from issuance of common stock in connection with at-the-market offering, net	—	—	8	—	—
Proceeds from exercise of common stock options	684,000	68,000	12,000	—	1
Net cash provided by financing activities	36	49	8	0	62
Net decrease in cash and cash equivalents	−4	−4	−539,000	−50	47
Reclassification of common stock warrant liability into additional paid-in capital upon exercise of common stock warrants	2	13	—	—	—
Right-of-use asset obtained in exchange for operating lease liability	—	1	—	—	—

Filings

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