Corvus Pharmaceuticals Upsizes Stock Offering to $175 Million for R&D and Working Capital
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Source: stocktwits
- Stock Offering Size: Corvus Pharmaceuticals has increased its public stock offering from $150 million to $175 million, planning to issue 7.9 million shares at a price of $22.15 per share, expected to close on January 23, 2026, enhancing liquidity for future growth initiatives.
- Use of R&D Funds: The net proceeds from this offering will be allocated to meet working capital needs, including capital expenditures and R&D costs for Phase 3 trials of T-cell lymphoma and Phase 2 trials for atopic dermatitis, hidradenitis suppurativa, and asthma, underscoring the company's commitment to drug development.
- Positive Clinical Trial Results: Corvus announced favorable safety and efficacy results from cohort 4 of its placebo-controlled trial for atopic dermatitis, with all patients completing the 56-day treatment, boosting confidence that soquelitinib could emerge as a leading oral therapy in the market.
- Optimistic Market Sentiment: Retail sentiment on Stocktwits around Corvus is bullish, with extremely high message volume, as investors believe the stock could rise significantly post-offering, reflecting strong confidence in the company's growth prospects.
Analyst Views on CRVS
Wall Street analysts forecast CRVS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRVS is 13.33 USD with a low forecast of 11.00 USD and a high forecast of 16.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 23.010
Low
11.00
Averages
13.33
High
16.00
Current: 23.010
Low
11.00
Averages
13.33
High
16.00
About CRVS
Corvus Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development of ITK inhibition as a new approach to immunotherapy for a range of cancer and immune diseases. Its lead product candidate is soquelitinib, is designed to bind specifically to a protein, interleukin 2 inducible T cell kinase (ITK), involved in T cell activation, T cell receptor signaling and T cell differentiation and function. ITK, an enzyme that functions in T cell signaling and differentiation, is expressed predominantly in T cells. Its second product candidate, ciforadenant, is an oral, small molecule antagonist of the A2A receptor for adenosine designed to disable a tumor’s ability to subvert attack by the immune system by blocking the binding of immunosuppressive adenosine in the tumor microenvironment to the A2A receptor. The Company’s third product candidate is mupadolimab, a humanized monoclonal antibody that is designed to react with a specific site on CD73.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
