Corvus Invests $5M in Angel Pharma to Advance Soquelitinib Trials in China
CRVS has more than doubled off its 52-week low of $3.55.
Summary
Corvus Pharmaceuticals announced a $5 million investment in its Chinese partner, Angel Pharmaceuticals, as part of a $13.5 million financing round. This funding will advance the development of soquelitinib in China for atopic dermatitis and asthma, indications also being pursued by Corvus in the US. This follows the positive Phase 1 clinical trial data for soquelitinib in atopic dermatitis announced on May 14th. Angel Pharma expects to report initial Phase 1b atopic dermatitis results in late 2026 and initiate a Phase 2 asthma trial in early 2027.
At the time of this announcement, CRVS was trading at $11.36 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $937.6M. The 52-week trading range was $3.55 to $26.95. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.