Corvus Pharmaceuticals, Inc.

Corvus Pharmaceuticals, Inc. reported a net loss of $15.3 million for the fiscal year ended December 31, 2025, a significant improvement from a net loss of $62.3 million in the prior year. This reduction was primarily driven by a $27.1 million gain from the change in fair value of warrant liability, which was reclassified to equity upon warrant exercise. The company incurred total operating expenses of $43.0 million, up from $27.5 million in 2024, with research and development expenses increasing to $33.7 million from $19.4 million due to expanded clinical trial activities for its lead product candidate, soquelitinib. Comprehensive loss was $14.9 million. As of December 31, 2025, the company had $56.8 million in cash, cash equivalents, and marketable securities, and total stockholders' equity of $61.2 million. The company is a clinical-stage biopharmaceutical company with no products approved for sale and has not generated any revenue.

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