Want to see CRVS full AI Analyst Report?
Top Page
Corvus Pharmaceuticals
(NASDAQ:CRVS)
Select Model
Select Model
Rating:54Neutral
Price Target:
$14.00
▲(7.12% Upside)
Action:Reiterated
Date:08/07/26
The score is held back primarily by weak financial performance (no revenue, recurring losses and meaningful cash burn), partially offset by a constructive earnings-call outlook featuring a strengthened cash runway into Q2 2028 and multiple upcoming clinical catalysts. Technical signals are neutral, and valuation metrics are not supportive due to ongoing losses and no dividend.
Positive Factors
Extended cash runway
A ~$215M cash balance with an explicit runway into Q2 2028 materially reduces near-term financing pressure and gives management flexibility to execute multiple clinical programs. This durable liquidity buffer supports trial enrollment, regulatory interactions, and strategic optionality over the next 18+ months.
Negative Factors
Sustained negative cash flow
Persistent and sizable negative operating and free cash flow increases reliance on capital markets to fund operations. Even with current runway, continued burn at these levels raises dilution and financing risk, which can constrain strategic choices and shareholder value over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Extended cash runway
A ~$215M cash balance with an explicit runway into Q2 2028 materially reduces near-term financing pressure and gives management flexibility to execute multiple clinical programs. This durable liquidity buffer supports trial enrollment, regulatory interactions, and strategic optionality over the next 18+ months.
Read all positive factors
Corvus Pharmaceuticals (CRVS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.25B
Dividend YieldN/A
Average Volume (3M)1.25M
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue GrowthN/A
EPS Growth8.14%
CountryUS
Employees37
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.64
Shares Outstanding84,120,940
10 Day Avg. Volume965,200
30 Day Avg. Volume1,250,599
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)9.93
Price to Sales (P/S)0.00
P/FCF Ratio-18.44
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-0.02
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$29.50Price Target Upside125.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.75
Revenue Forecast (FY)N/A
Corvus Pharmaceuticals Business Overview & Revenue Model
Company Description
Corvus Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical firm specializing in the development and commercialization of immuno-oncology therapies. Their leading investigational compound, Mupadolimab (CPI-006), an anti-CD73 monoclonal anti...
How the Company Makes Money
Corvus Pharmaceuticals does not have a widely disclosed, established product-sales business model typical of commercial-stage pharmaceutical companies. Its revenue, when present, is generally expected to come from typical clinical-stage biotech so...
Corvus Pharmaceuticals Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call presents a largely positive development picture driven by a strong cash position, promising Phase 1 atopic dermatitis efficacy and safety signals, multiple planned trials across indications, and defined near-term catalysts (Angel cohort data, SEERA-1 topline, PTCL interim). These positives are tempered by substantially higher R&D spend and widening net losses, increased stock-based compensation, and clinical/regulatory execution risks (including a futility analysis and reliance on partner timelines). On balance the clinical progress and cash runway meaningfully outweigh the financial and execution risks in the near term.Positive Updates
Strong cash position and runway
Cash equivalents and marketable securities of $215.0M as of 06/30/2026 vs $56.8M at 12/31/2025 (increase of ~$158.2M, ~279%), including ~$189M net proceeds from a Q1 follow-on offering; company expects cash to fund operations into Q2 2028.
Negative Updates
Higher R&D spending
Research and development expenses were $16.0M in Q2 2026 vs $7.9M in Q2 2025, an increase of $8.1M (~103%), driven primarily by higher clinical trial costs for Soquelitinib and increased personnel costs.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong cash position and runway
Cash equivalents and marketable securities of $215.0M as of 06/30/2026 vs $56.8M at 12/31/2025 (increase of ~$158.2M, ~279%), including ~$189M net proceeds from a Q1 follow-on offering; company expects cash to fund operations into Q2 2028.
Read all positive updates
Company Guidance
Management provided detailed financial and clinical guidance: Q2 2026 R&D expense was $16.0M (vs $7.9M in Q2 2025) and net loss was $18.0M (vs $8.0M), with noncash equity‑method losses of $0.7M in Q2 2026 (vs $0.4M) and a $2.0M noncash warrant gain in Q2 2025, stock‑based compensation of $2.6M (vs $1.3M); cash and marketable securities totaled $215M as of 6/30/2026 (vs $56.8M at 12/31/2025) including ~ $189M net proceeds from a Q1 follow‑on, Corvus invested $5M in Angel’s $13.5M financing, and they expect cash to fund operations into Q2 2028. Clinical guidance and timelines: Phase III PTCL will enroll ~150 patients randomized 1:1 (Soquelitinib vs SOC belinostat/pralatrexate) with background median PFS ≈3 months, a planned futility analysis after a predefined number of PFS events expected in Q1 2027 and final data projected late 2027; AD data showed in Phase 1 cohort 4 (N=24, 56‑day 200 mg BID) 75% EASI‑70 vs 20% placebo, 25% EASI‑90 vs 0, and 33% IGA 0/1 vs 0; Phase II SEERA‑1 is planned to enroll ~200 patients (4 cohorts of 50: 200 mg QD, 200 mg BID, 400 mg QD + placebo), 12‑week treatment + 90‑day follow‑up with enrollment completion expected early 2027 and top‑line data in Q3 2027; Angel’s AD trial has two 24‑patient cohorts (additional 60–90 patients anticipated), cohort 1 enrollment expected complete in September with data before year‑end 2026 and cohort 2 data in Q2 2027, positioning a possible Phase III start by end‑2027; additional plans include a Phase 1b HS study (up to 25 patients, 200 mg BID for 12 weeks) starting in September and Phase II asthma trials in the US later this year and in China (Angel) in early 2027 (noting ~40–50% of asthma is non‑T2 and the asthma trial includes both T2 and non‑T2 with an interim futility analysis).Corvus Pharmaceuticals Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -55.00K | -105.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -51.49M | -15.18M | -62.21M | -26.88M | -40.94M | -42.77M |
| Net Income | -54.13M | -15.28M | -62.29M | -27.03M | -41.31M | -43.24M |
Balance Sheet | ||||||
| Total Assets | 239.27M | 71.12M | 68.91M | 45.55M | 68.24M | 109.45M |
| Cash, Cash Equivalents and Short-Term Investments | 215.23M | 56.75M | 51.96M | 27.15M | 42.30M | 69.45M |
| Total Debt | 728.00K | 937.00K | 1.12M | 1.37M | 2.60M | 3.65M |
| Total Liabilities | 13.95M | 9.91M | 36.34M | 6.87M | 12.13M | 12.29M |
| Stockholders Equity | 225.33M | 61.20M | 32.57M | 38.68M | 56.12M | 97.16M |
Cash Flow | ||||||
| Free Cash Flow | -45.23M | -32.97M | -25.42M | -23.97M | -27.29M | -36.72M |
| Operating Cash Flow | -44.53M | -32.80M | -25.42M | -23.93M | -27.02M | -36.72M |
| Investing Cash Flow | -142.55M | -7.80M | -27.48M | 15.54M | -23.28M | 21.56M |
| Financing Cash Flow | 191.29M | 36.43M | 49.03M | 7.86M | 0.00 | 62.16M |
Corvus Pharmaceuticals Technical Analysis
Positive
13.07
Price Trends
13.85
Positive
14.08
Positive
13.42
Positive
Market Momentum
0.32
Negative
64.25
Neutral
82.05
Negative
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 13.07 is below the 20-day moving average (MA) of 14.01, below the 50-day MA of 13.85, and below the 200-day MA of 13.42, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 64.25 is Neutral, neither overbought nor oversold. The STOCH value of 82.05 is Negative, 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 |
|---|---|---|---|---|---|---|---|
56 Neutral | $1.89B | -12.68 | -28.66% | ― | -28.56% | 10.25% | |
54 Neutral | $1.25B | -24.06 | -36.15% | ― | ― | 8.14% | |
54 Neutral | $1.10B | -3.72 | -207.18% | ― | -7.27% | -48.89% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $738.68M | -7.93 | -38.46% | ― | -87.03% | -179.91% | |
51 Neutral | $1.44B | -10.85 | -35.35% | ― | ― | 28.64% | |
45 Neutral | $1.24B | -4.98 | -45.27% | ― | -65.40% | -164.71% |
* Healthcare Sector Average
CRVS
Corvus Pharmaceuticals
15.40
10.21
196.72%
XNCR
Xencor
27.52
20.01
266.44%
CTMX
CytomX Therapeutics
3.57
1.60
81.22%
KURA
Kura Oncology
12.53
5.48
77.73%
ORIC
Oric Pharmaceuticals
14.65
5.14
54.05%
IMTX
Immatics
9.25
3.65
65.18%
Corvus Pharmaceuticals Corporate Events
Business Operations and StrategyExecutive/Board Changes
Corvus Pharmaceuticals Announces Board Leadership Transition
Neutral
Jul 22, 2026
On July 21, 2026, Corvus Pharmaceuticals announced that Ian T. Clark had notified the company of his intention to resign from its board of directors, effective July 22, 2026. The departure concludes more than nine years of board service, with the ...
Executive/Board ChangesShareholder Meetings
Corvus Stockholders Approve Directors and Governance Proposals
Positive
Jun 12, 2026
On June 11, 2026, Corvus Pharmaceuticals held its 2026 Annual Meeting of Stockholders, with 73,021,854 shares represented out of 84,090,424 outstanding as of the April 16, 2026 record date. Stockholders elected Richard A. Miller, M.D., and Linda S...
Business Operations and StrategyProduct-Related Announcements
Corvus Pharmaceuticals Unveils Positive Phase 1 Dermatitis Results
Positive
May 14, 2026
On May 14, 2026, Corvus Pharmaceuticals reported final results from a randomized, blinded, placebo-controlled Phase 1 trial of oral ITK inhibitor soquelitinib in 72 patients with moderate-to-severe atopic dermatitis who had failed prior therapies,...
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.