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what it is
Corvus is a biotech testing soquelitinib for immune-driven disease and cancer.
how it gets paid
Last year Corvus Pharma made n/a in revenue. soquelitinib program was the main engine at $0M, or 25% of sales.
what just happened
Corvus posted a -$0.18 quarterly EPS in the latest year-end quarter.
At a glance
B balance sheet — gets the job done, barely
75/100 earnings predictability — reasonably predictable
-$0.47 fy2024 eps est
1.6 beta
~$1B market cap
xvary composite: 64/100 — average
What they do
Corvus is a biotech testing soquelitinib for immune-driven disease and cancer.
This is not a broad drug shop. It has 1 named lead drug and 2 other clinical candidates. That concentration can pay off fast, but you are also one trial read from drama. 31 employees and $1M of debt keep the machine small.
How they make money
n/a
annual revenue
soquelitinib program
$0M
atopic dermatitis program
$0M
solid tumor candidate 1
$0M
solid tumor candidate 2
$0M
The products that matter
ITK inhibitor candidate
Soquelitinib
one clinical-stage asset · Phase II planned 2026
it's the only clinical-stage asset in the story, and a Phase II trial in atopic dermatitis is planned for 2026. if that timeline slips, your thesis slips with it.
100% of the story
Key numbers
$201.2M
new cash
That is fresh runway from the January 2026 offering. It buys time to wait for trial data.
$1B
market cap
At a $1B valuation, every trial headline can move the stock hard.
1.6
beta
1.6 beta means the stock tends to swing about 60% more than the market.
$1M
debt load
$1M of long-term debt is tiny next to a $201.2M raise. The problem is trials, not leverage.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 1 — safer than 95% of stocks
- price stability 5 / 100
- long-term debt $1M (0% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CRVS right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Corvus posted a -$0.18 quarterly EPS in the latest year-end quarter.
The company is still losing money. shows quarterly EPS of -$0.12, -$0.07, -$0.10, and -$0.18 in 2024. Yahoo Finance shows TTM revenue at $0M, so you are buying pipeline optionality, not sales.
$0M
revenue
-$0.18
eps
n/a
n/a
the number that mattered
The $0M revenue figure matters most because it says the stock has no commercial buffer. Every dollar of value depends on trial data.
source: quarterly history and Yahoo Finance consensus
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What could go wrong
the #1 risk is soquelitinib clinical failure or delay.
med
Single-asset pipeline risk
Corvus has one clinical-stage asset in the story. If soquelitinib disappoints, there is no second act in this snapshot.
This exposes 100% of the current operating thesis because the company has $0 revenue and one asset doing all the narrative work.
med
Valuation compression
The stock trades at 22.3x book value versus 2.6x for the average US biotech. That gap can hold on good data. It can close fast on bad or delayed data.
If the market stops paying a premium for future approval odds, the multiple has a long way down before it reaches sector norms.
med
Timeline slippage
A Phase II atopic dermatitis trial is planned for 2026. Small-cap biotech timelines slip all the time, and delay is its own form of bad news.
For a company with no revenue, every quarter of delay pushes out proof and keeps the valuation dependent on patience.
med
Funding risk if runway changes
Management said cash should last into 2028. That's helpful, but $0 revenue means the balance sheet still funds the whole operation.
If that runway shortens in future updates, dilution risk moves from background issue to main event.
This is a binary setup: one asset, $0 revenue, a 22.3x book multiple, and a stock with 5 / 100 price stability.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
2026 Phase II trial start
This is the next event that can turn the story from promise into evidence. If the timeline moves right, sentiment usually moves with it.
runway
Cash into 2028
Management said current cash should fund operations into 2028. You want that language to stay intact in the next update.
valuation
22.3x book versus 2.6x sector average
That premium is the whole market verdict in one number. Good data can support it. Dead air usually cannot.
volatility
1.6 beta and 5 / 100 price stability
The balance sheet may score safer than most stocks, but the share price does not. Expect sharp moves around even small updates.
Analyst rankings
earnings predictability
75 / 100
Losses have been reasonably trackable. In human-speak, analysts are not expecting surprise profitability to suddenly appear.
risk rank
1
This score says the balance sheet screens safer than most stocks. It does not mean the equity story is safe.
beta
1.6
Market moves tend to get amplified here. You are not buying a sleepy defensive name.
source: institutional data
Institutional activity
institutional ownership data for CRVS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$19
current price
n/a
target midpoint · n/a from current
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