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Corvus Pharmaceuticals ( (CRVS) ) has issued an update.
Corvus Pharmaceuticals announced promising interim data from their Phase 1 clinical trial of soquelitinib for moderate to severe atopic dermatitis. The data indicated a favorable safety and efficacy profile for the drug, showing significant reductions in Eczema Area and Severity Index (EASI) scores compared to placebo, with early signs of efficacy observed as early as eight days into treatment. The company also received approximately $12.7 million in cash proceeds from the early exercise of common stock warrants, bolstering its financial position. These developments support soquelitinib’s potential as a new treatment option for atopic dermatitis and highlight the broader opportunity for ITK inhibition in treating immune diseases.
More about Corvus Pharmaceuticals
Corvus Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for immune diseases. The company is exploring the potential of its product candidates, including soquelitinib, for treating conditions such as atopic dermatitis and other immune-related diseases.
YTD Price Performance: 292.05%
Average Trading Volume: 797,118
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $474.9M
See more data about CRVS stock on TipRanks’ Stock Analysis page.
