CRVS

EX-99.1

2 exh_991.htm

PRESS RELEASE

EdgarFiling

EXHIBIT 99.1

Corvus Pharmaceuticals Provides Business Update and Reports Third Quarter 2026 Financial Results

Enrollment in soquelitinib registrational Phase 3 relapsed/refractory peripheral T-cell lymphoma (PTCL) and Phase 2 atopic dermatitis trials on track

Angel Pharmaceuticals completes enrollment in cohort 1 of Phase 1b/2 atopic dermatitis trial; topline data anticipated in March 2027

Phase 1b hidradenitis suppurativa trial enrolling patients with initial data anticipated in 1H 2027; Phase 2 asthma trial to initiate by Q1 2027

Cash, cash equivalents and marketable securities of $202.9 million at September 30, 2026, providing runway into second quarter 2028

Conference call and webcast today at 4:30 pm ET / 1:30 pm PT

SOUTH SAN FRANCISCO, Calif., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (Nasdaq: CRVS), a clinical-stage biopharmaceutical company, today provided a business update and reported financial results for the third quarter ended September 30, 2026.

“We continue to drive the science and advance the breadth of potential clinical indications for ITK inhibition with soquelitinib,” said Richard A. Miller, M.D., co-founder, president and chief executive officer of Corvus. “Our Phase 3 PTCL and Phase 2 atopic dermatitis clinical trials are on track and there has been strong interest in our new hidradenitis suppurativa trial. We also are making good progress towards initiating a unique asthma trial that will include both T2 and non-T2 patients by Q1 2027. We believe soquelitinib has the potential to be effective in both types of asthma patients based on its mechanism of action affecting Th2, Th17 and T regulatory cells, which we will be closely analyzing in our hidradenitis suppurativa trial. Taken altogether, we are positioned for a series of potentially significant data milestones across our soquelitinib development pipeline in 2027.”

Business Update and Strategy

Soquelitinib for Immune Diseases

Corvus is enrolling patients in the SIERRA1 Phase 2 randomized, blinded, placebo-controlled atopic dermatitis clinical trial. The trial is anticipated to enroll approximately 200 patients with moderate-to-severe atopic dermatitis that have failed at least one prior topical or systemic therapy. This includes four cohorts of 50 patients each, with soquelitinib doses of 200 mg once per day, 200 mg twice per day and 400 mg once per day, along with a placebo group. The treatment period is 12 weeks with a 90-day follow-up period with no treatment. The primary endpoint of the trial is the percent change from baseline in Eczema Area and Severity Index (EASI) score at Week 12 compared to placebo. Angel Pharmaceuticals (Angel Pharma), Corvus’ partner in China, is enrolling a Phase 1b/2 clinical trial evaluating soquelitinib in patients with moderate-to-severe atopic dermatitis. This is a blinded, placebo-controlled trial that is planned to evaluate a 12-week treatment regimen in 48 patients utilizing soquelitinib doses of 100 mg twice per day, 200 mg once per day, 200 mg twice per day and 400 mg once per day. The patient eligibility and endpoints are similar to those used previously by Corvus. Depending on the results from the Phase 1b portion of the study, an additional 60-90 patients will be enrolled in the Phase 2 portion of the study. The trial is open at several leading dermatology centers in China who have been involved in global registration trials. The study is conducted in close collaboration with Corvus. Angel Pharma completed enrollment in cohort 1 (n=24, 100 mg twice per day, 200 mg once per day and placebo) of the Phase 1b portion of the trial and results from this cohort are anticipated in March 2027. The baseline characteristics of the 24 patients enrolled in cohort 1 are similar to the baseline characteristics of the 72 patients in Corvus’ Phase 1 atopic dermatitis clinical trial, including the subset of eight Asian patients in the Corvus trial. This includes similar mean age, baseline EASI, baseline Investigator's Global Assessment (IGA) and use of prior systemic therapies. Corvus is enrolling patients in a Phase 1b clinical trial evaluating soquelitinib in patients with hidradenitis suppurativa (HS). The trial is designed to enroll up to 25 patients with moderate to severe HS. All patients will receive a soquelitinib dose of 200 mg twice per day for 12 weeks, followed by a 90-day follow-up period with no treatment. The primary endpoint of the trial is safety and tolerability. The key efficacy endpoint is the proportion of patients achieving Hidradenitis Suppurativa Clinical Response (HiSCR) 50/75 at week 12, and the trial will also evaluate skin and blood biomarkers. Initial data from the trial is anticipated in the 1H 2027. Corvus plans to initiate a Phase 2 trial evaluating soquelitinib in patients with asthma, by Q1 2027. Angel Pharma anticipates that it will initiate a Phase 2 trial of soquelitinib in patients with as

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