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

(RTTNews) - Corvus Pharmaceuticals, Inc. (CRVS), Wednesday announced interim data from phase 1 clinical trial evaluating soquelitinib in patients with moderate to severe atopic dermatitis, a chronic disease.

During the randomized, double-blind, placebo-controlled trial, 12 patients received soquelitinib oral twice per day and 4 patients received placebo for 28 days and were followed up for 30 days.

The findings from the lowest dose level cohorts demonstrated a favorable safety and efficacy profile.

The company also announced that Samlyn Capital, a warrant holder, has delivered exercise notices with respect to all of its warrants in advance of the June 30, 2025 expiration date, resulting in cash proceeds of around $12.7 million.

During the pre-market hours, Corvus's stock is trading at $5.29, down 28.42 percent on the Nasdaq.