Corvus Pharma (CRVS) Announces Pricing of Public Offering of Common Stock
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Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical-stage biopharmaceutical company, today announced the pricing of an underwritten public offering of 8,571,429 shares of its common stock at a price to the public of $3.50 per share, for gross proceeds of $30.0 million before deducting estimated underwriting discounts and commissions and estimated offering expenses payable by Corvus. All of the shares are being offered by Corvus. In addition, Corvus has granted the underwriters of the offering a 30-day option to purchase up to an additional 1,285,714 shares of common stock at the public offering price, less underwriting discounts and commissions.
Corvus currently expects to use the net proceeds from this offering to fund its Phase 3 clinical trial of CPI-006 and development of its other product candidates, with any remaining proceeds for working capital and general corporate purposes.
The offering is expected to close on or about February 17, 2021, subject to satisfaction of customary closing conditions.
Cantor Fitzgerald & Co. and H.C. Wainwright & Co. are acting as joint book-running managers for the offering.
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