Corvus Pharmaceuticals, Inc. Segments Disclosure
4. Segments
The Company views its operations and manages its business in one operating segment, that of the development and commercialization of drugs and antibodies that target critical elements of the immune system. The Company's CODM is made up of the Chief Executive Officer and Chief Financial Officer. The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is reported on the consolidated statement of operations and comprehensive loss. The measure of segment assets is reported on the balance sheet as total consolidated assets. Managing and allocating resources on a consolidated basis enables the CODM to assess the overall
level of resources available and how to best deploy these resources across functions and programs that are in line with the Company's long-term company-wide strategic goals.
The following table presents reportable segment net loss, including significant expense categories, attributable to the Company's reportable segment for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31, | |||||||||
| 2025 | | 2024 | | 2023 | ||||
Compensation and benefits, excluding stock-based compensation | $ | 8,921 |
| $ | 7,438 |
| $ | 6,737 | |
Stock-based compensation | 5,330 |
| 3,003 |
| 2,148 | ||||
Drug manufacturing | 7,291 |
| 2,485 |
| 2,195 | ||||
Clinical trials | 10,340 |
| 4,148 |
| 2,716 | ||||
Outside general and administrative | 2,973 |
| 3,101 |
| 2,703 | ||||
Facilities and insurance | 2,272 |
| 3,219 |
| 3,160 | ||||
Other segment items (1) | 5,844 |
| 4,154 |
| 3,748 | ||||
Total segment expense | 42,971 |
| 27,548 |
| 23,407 | ||||
Non-operating (income) and expense, net | (27,688) |
| 34,745 |
| 3,622 | ||||
Net loss | $ | 15,283 |
| $ | 62,293 |
| $ | 27,029 | |
| (1) | Includes consulting, non-clinical research and laboratory supplies. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 12, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.