Corvus Pharmaceuticals prices $175 million stock offering

Corvus Pharmaceuticals Inc. (NASDAQ: CRVS) announced the pricing of an upsized public offering of 7,900,677 shares of common stock at $22.15 per share. The clinical-stage biopharmaceutical company expects to raise approximately $175 million in gross proceeds before underwriting discounts and estimated offering expenses.

The company has granted underwriters a 30-day option to purchase up to an additional 1,185,101 shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about January 23, 2026, subject to customary closing conditions.

Corvus plans to use net proceeds for working capital and general corporate purposes, including capital expenditures and research and development. The funds may support the company's Phase 3 T cell lymphoma trial and Phase 2 clinical trials for atopic dermatitis, hidradenitis suppurativa and asthma, along with sales, marketing and administrative expenses.

Jefferies and Goldman Sachs & Co. LLC are serving as lead book-running managers for the offering, with Mizuho acting as bookrunner and Ladenburg Thalmann & Co. Inc. as co-manager.

The offering is being conducted under a shelf registration statement declared effective by the Securities and Exchange Commission on August 15, 2024, with a related registration statement filed January 21, 2026.

Corvus develops ITK inhibition therapies for immune diseases and cancer. The company's lead product candidate is soquelitinib, an oral small molecule drug being evaluated in a Phase 3 trial for relapsed/refractory PTCL and a Phase 1 trial for atopic dermatitis treatment.

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