Stock Alert: Corvus Pharma Shares Spike 100% In Premarket

(RTTNews) - Shares of Corvus Pharmaceuticals, Inc. (CRVS) are rallying over 100% in pre-market today, after the company announced that it has initiated a Phase 1 study to investigate a novel immunotherapy approach for patients with COVID-19.

The first cohort of five patients enrolled in the study was treated at Temple University Hospital in Philadelphia, PA. The study is expected to enroll up to 30 patients at several sites in the United States. This follows the U.S. FDA review and acceptance of the company's investigational new drug or IND application for the COVID-19 study.

The stock has been trading in the range of $1.01 - $6.35 for the past one year, and closed Monday's trade at $2.74, up 14 cents or 5.38%. CRVS is currently trading at $5.49, up $2.75 or 100.36% in the pre-market session.