Corvus Pharmaceuticals Advances Soquelitinib Across Five Diseases

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Corvus Pharmaceuticals reported second-quarter 2026 results highlighting progress for its oral ITK inhibitor soquelitinib, now in testing across five diseases. In a Phase 1 atopic dermatitis trial, 75% of patients on 200 milligram twice-daily dosing achieved EASI-75 at 8 weeks versus 20% on placebo, with benefits persisting after dosing stopped. The company plans a roughly 200-patient Phase 2 SEERA-1 trial with enrollment completing in early 2027 and results the following quarter. Corvus ended the quarter with $215 million in cash and marketable securities, up from $56.8 million at the end of 2025, after raising $189 million in a first-quarter follow-on offering, funding operations into the second quarter of 2028. R&D expenses rose to $16 million from $7.9 million a year earlier, and the net loss widened to $18 million from $8 million. A Phase 3 trial in relapsed or refractory peripheral T-cell lymphoma will undergo a futility analysis around the first quarter of 2027 with no public data release. Corvus also invested another $5 million in China-based partner Angel Pharmaceuticals as part of a $13.5 million financing round, with Angel's first 24-patient cohort expected to finish enrolling in September. Hedge fund holders increased from 19 to 36, while short interest stands at 24.74% of the float.

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Angel Pharmaceuticalsi
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Corvus invested additional $5 million in Angel Pharmaceuticals, supporting its development.

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