Why Are Corvus Pharmaceuticals Trading Higher Today

In its Q1 earnings release, Corvus Pharmaceuticals Inc CRVS revealed updated data from the Phase 1/1b trial evaluating single-agent therapy with CPI-818 in patients with relapsed T cell lymphomas (TCL).

A total of 28 patients were enrolled in the Phase 1/1b trial at the optimum 200 mg BID dose, including 19 evaluable for tumor response. 

There have been two complete responses (CR), one nodal CR, and three partial responses (PR). 

Also Read: Corvus Pharma's HIV Candidate Shows Potential To Prevent Virus Re-Emergence.

Two of the patients with PRs remain on therapy. A total of nine patients remain on therapy, including five who have not had their initial tumor response evaluation. 

For patients with ALC above 900 per cubic milliliter of blood, objective responses were seen in six of 13 patients, with disease control in 11 of 13.

No objective responses were seen in six patients (0 for 6) with ALC below 900. 

The median progression-free survival is 19.9 months versus 2.1 months for patients with ALC above 900 and ALC below 900, respectively.

Based on the current enrollment rate of the Phase 1/1b clinical trial, Corvus believes that the number of patients treated in this clinical trial would provide adequate safety and preliminary efficacy data to inform the design of a potentially registrational Phase 3 trial. 

Corvus plans to meet with the FDA during the third quarter of this year.

 Corvus had cash, cash equivalents, and marketable securities of $34.5 million expected to fund operations into 2024.

Price Action: CRVS shares are up 30.5% at $1.69 on the last check Wednesday.