FX.co ★ Corvus's Soquelitinib Shows Safety, Efficacy In Phase 1 Trial, Stock Down In Pre-Market

Corvus Pharmaceuticals, Inc. (CRVS) reported interim results from a Phase 1 clinical trial of soquelitinib, targeting moderate to severe atopic dermatitis—a chronic condition. In this randomized, double-blind, placebo-controlled study, 12 patients were administered soquelitinib orally twice a day, while 4 patients received a placebo over a period of 28 days, followed by a 30-day observation period. Results from the lowest dose groups indicated a strong safety and efficacy profile.

Additionally, Corvus disclosed that Samlyn Capital, a warrant holder, has exercised all of its warrants before the expiration on June 30, 2025, generating approximately $12.7 million in cash proceeds. In pre-market trading, Corvus's stock is currently valued at $5.29, reflecting a 28.42 percent decline on the Nasdaq.