Corvus Pharmaceuticals, Inc. (CRVS) FY2025 10-K Annual Report
Corvus Pharmaceuticals, Inc. (CRVS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Corvus Pharmaceuticals, Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Clinical-stage biopharma developing targeted immune cell protein inhibitors for immune-mediated diseases, inflammatory diseases, and cancers
- • New emphasis: Soquelitinib advanced to Phase 3 trial for relapsed peripheral T cell lymphoma (PTCL) and initiated Phase 2 trial for moderate-to-severe atopic dermatitis
- • Strategic shift: Expanded focus on immune and inflammatory diseases from oncology, demonstrated by ITK inhibitor’s novel mechanism rebalancing Th1/Th2/Th17/Treg cells
- • Quantitative highlight: Phase 1/1b trial enrolled 75 PTCL patients; Phase 1 atopic dermatitis trial enrolled 72 patients across 4 cohorts with up to 72% EASI score reduction
- • Noteworthy fact: FDA granted Fast Track and Orphan Drug designations for soquelitinib in relapsed PTCL; first clinical evidence of ITK inhibitor therapy efficacy in both cancer and inflammatory disease pathways
Management Discussion & Analysis
- • No revenue or profitability figures disclosed in MD&A section
- • No segment performance data available
- • No cash flow, buybacks, dividends, or capital expenditure details provided
- • Forward-looking statements included but specifics on management outlook or guidance not given
Risk Factors
- • Regulatory risk FDA approval delay for soquelitinib with $21.2M R&D spend in 2025, clinical trial costs up $6.0M YoY
- • Macroeconomic risk accumulated deficit $412.3M with net loss $15.3M in 2025, cash runway only through Q2 2028
- • Operational risk manufacturing cost increase $4.8M for soquelitinib in 2025, reflecting supply chain cost pressures
- • Competitive risk dependence on clinical success of soquelitinib vs oncology market innovations, no approved products yet
- • Financial risk reliance on equity funding with $189.4M raised in January 2026 follow-on offering, ATM offering suspended
Corvus Pharmaceuticals, Inc. FY2025 Key Financial MetricsXBRL
Net Income
-$15M
▲ +75.5% YoY
ROE
-25.0%
▲ +16630bp YoY
Total Assets
$71M
▲ +3.2% YoY
EPS (Diluted)
$-0.53
▲ +48.0% YoY
Operating Cash Flow
-$33M
▼ -29.0% YoY
Source: XBRL data from Corvus Pharmaceuticals, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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