CRVS Earnings Prediction
The chart below shows how CRVS performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CRVS sees a -7.01% change in stock price 10 days leading up to the earnings, and a -3.30% change 10 days following the report. On the earnings day itself, the stock moves by +3.37%. This data can give you a slight idea of what to expect for the next quarter's release.
CRVS Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
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Gross Margin
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Operating Margin
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--
Net Margin
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EPS
-0.60
-400.00%
757.14%
No Data Available
CRVS Earnings Analysis
Corvus Pharmaceuticals, Inc. Corporation (CRVS.O) Earnings Conference Call
Positive
R&D Expense Increase: Research and development expenses in the third quarter of 2024 totaled $5.2 million compared to $4 million in the same period in 2023, reflecting a $1.2 million increase primarily due to an increase in soquelitinib clinical trial expenses.
Strong Financial Position: As of September 30, 2024, Corvus had cash, cash equivalents and marketable securities totaling $41.7 million compared to $27.1 million at December 31, 2023, indicating a strong financial position.
Non-Cash Loss Impact: The company recorded a non-cash loss of $0.7 million related to Angel Pharmaceuticals, our partner in China, which is a manageable figure in the context of overall operations.
Stock Compensation Expense Analysis: Total stock compensation expense for the third quarter of 2024 was $0.7 million compared to $0.5 million for the same period in 2023, showing effective cost management in employee compensation.
Cash Runway for Investment: The company anticipates cash, including the recent early exercise of common stock warrants, provides runway into 2026, allowing for continued investment in clinical trials and product development.
Negative
R&D Expense Increase: Research and development expenses in the third quarter of 2024 totaled $5.2 million compared to $4 million in the same period in 2023, indicating a $1.2 million increase primarily due to an increase in soquelitinib clinical trial expenses.
Third Quarter Net Loss: The net loss for the third quarter of 2024 was $40.2 million, including a non-cash loss of $0.7 million related to Angel Pharmaceuticals, our partner in China.
Warrant Liability Loss: We recorded a non-cash loss of $32.8 million from the change in fair value of Corvus' warrant liability during the third quarter of 2024, compared to a net loss of $6 million for the same period in 2023.
Stock Compensation Expense Increase: Total stock compensation expense for the third quarter of 2024 was $0.7 million compared to $0.5 million for the same period in 2023, reflecting increased costs.
Cash Position Analysis: As of September 30, 2024, Corvus had cash, cash equivalents and marketable securities totaling $41.7 million compared to $27.1 million at December 31, 2023, indicating a significant cash burn rate.
CRVS FAQs
How does CRVS typically perform around its earnings report dates?
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CRVS Earning Call Sentiment
Corvus Pharmaceuticals, Inc. (CRVS) Q3 2024 Earnings Call Transcript
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CRVS.O
-8.01%Positive
The earnings call presents a mixed picture. While there are positive developments, such as clinical trial progress and potential cash inflow from warrant exercises, there are significant concerns. These include a substantial increase in net loss, competitive pressures, and cash flow risks. Additionally, management's evasive responses in the Q&A regarding competition and other aspects raise uncertainties. The positive aspects are balanced by these risks, leading to a neutral overall sentiment.
