NASDAQ$CRVS
Corvus Pharmaceuticals Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Corvus Pharmaceuticals reported financial results for the second quarter ended June 30, 2023.
Corvus Pharmaceuticals reported a net loss of $6.5 million for the second quarter of 2023, with cash, cash equivalents, and marketable securities totaling $37.0 million as of June 30, 2023. The company anticipates its cash will fund operations into the second half of 2024.
- Continued to strengthen the scientific and clinical foundation for the potential use of soquelitinib for a variety of cancers.
- Remains on track to meet with the FDA this quarter to discuss a potential registrational Phase 3 clinical trial with soquelitinib in relapsed T cell lymphomas (TCL).
- Planning to initiate clinical studies with soquelitinib in solid tumors.
- Enrollment is ongoing in clinical trials evaluating partner led programs, ciforadenant and mupadolimab.
Headline financials
Revenue & EPS history
Corvus Pharmaceuticals · Revenue · Quarterly
-$1.28M
Forward guidance
Corvus expects full year 2023 net cash used in operating activities to be between approximately $20 million and $22 million, resulting in a projected cash balance of between $28 million and $30 million as of December 31, 2023. Based on its current plans, Corvus expects its cash to fund operations into the second half of 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
+1.0%
Avg return
Earnings day
+3.6%
Avg return
5 days after
+7.3%
Avg return
30 days after
53%
20 / 38 earnings
Positive
+32.2%
Q1 2025
Best reaction
-18.4%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +6.6% | +8.6% | — | |
| Q3 2025 | -1.4% | +3.5% | +15.3% | |
| Q2 2025 | +4.4% | +21.1% | +49.2% | |
| Q1 2025 | +32.2% | +8.1% | +16.7% | |
| Q4 2024 | -14.8% | -19.1% | -7.6% | |
| Q3 2024 | -7.2% | -14.3% | -15.5% | |
| Q1 2024 | -12.5% | +8.3% | +15.6% | |
| Q4 2023 | -2.6% | -5.8% | -25.8% | |
| Q3 2023 | +8.1% | -6.1% | +13.5% | |
| Q2 2023 | +10.5% | +7.2% | -21.5% | |
| Q1 2023 | +8.3% | +70.8% | +190.4% | |
| Q4 2022 | +11.1% | +40.0% | +75.4% | |
| Q3 2022 | -3.4% | -8.3% | +18.1% | |
| Q2 2022 | -5.0% | +12.4% | +11.4% | |
| Q1 2022 | -7.3% | -10.9% | -22.6% | |
| Q4 2021 | -8.5% | -11.5% | +4.8% | |
| Q3 2021 | +9.5% | +10.4% | -27.8% | |
| Q2 2021 | +0.5% | +1.9% | +11.5% | |
| Q1 2021 | -2.1% | -1.4% | -4.9% | |
| Q4 2020 | +7.3% | +2.8% | -1.7% | |
| Q3 2020 | +4.2% | +7.4% | +6.1% | |
| Q2 2020 | +1.9% | -1.7% | -12.7% | |
| Q1 2020 | -15.0% | +19.8% | +36.4% | |
| Q4 2019 | -18.4% | -27.5% | -47.9% | |
| Q3 2019 | -4.6% | -5.5% | -17.2% | |
| Q2 2019 | -3.1% | -9.0% | -12.8% | |
| Q1 2019 | +7.7% | +6.4% | -15.8% | |
| Q4 2018 | +0.0% | -6.0% | -8.5% | |
| Q3 2018 | +8.7% | -0.3% | -21.2% | |
| Q2 2018 | -6.8% | -7.0% | +12.8% | |
| Q1 2018 | -0.3% | +0.1% | +36.0% | |
| Q3 2017 | +4.2% | -1.8% | -18.6% | |
| Q2 2017 | +3.5% | -1.6% | +36.6% | |
| Q1 2017 | +3.2% | +2.0% | +16.9% | |
| Q4 2016 | +18.1% | +25.5% | -41.1% | |
| Q3 2016 | +3.7% | +8.7% | +17.1% | |
| Q2 2016 | +4.1% | +7.4% | +4.1% | |
| Q1 2016 | -5.4% | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — |
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