On the recent investor conference call, Corvus Pharmaceuticals’ clinical team presented detailed findings from cohort 4 of the Phase 1 study evaluating soquelitinib in moderate-to-severe atopic dermatitis. In this fourth cohort, 12 patients received daily oral doses of 200 mg over a four-week period. The drug demonstrated a favorable safety profile, with no dose-limiting toxicities observed and only mild to moderate adverse events in 25% of participants, primarily headache and transient diarrhea. Pharmacodynamic assessments showed a mean 60% reduction in peripheral activated T-cell counts by day 28, and skin biopsy samples revealed a consistent decrease in epidermal thickness. These results support dose optimization for the ongoing Phase 2 program and strengthen Corvus’s rationale for advancing soquelitinib in inflammatory skin disorders.

Corvus Pharmaceuticals announced the commencement of an underwritten public offering aimed at raising $150 million through the sale of common stock and pre-funded warrants. The company has also granted underwriters a 30-day option to purchase up to an additional $22.5 million of common shares. Net proceeds are earmarked for working capital and general corporate purposes, including expansion of the Phase 3 peripheral T-cell lymphoma study, initiation of Phase 2 trials in hidradenitis suppurativa and asthma, and continued development of the atopic dermatitis program. Jefferies and Goldman Sachs are leading the transaction, supported by Mizuho and Ladenburg Thalmann, under an existing shelf registration declared effective by the SEC in August 2024. Completion of the offering remains subject to market conditions and regulatory clearance.