Corvus Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, announced that it has commenced the pricing of an upsized underwritten public offering of 7,900.677 shares of its common stock at a price to the public of $ 22.5 million. Thus, deducting the estimated underwriting discounts and commissions, including the estimated offering expenses, the Corvus is payable, which can amount to approximately $175.0 million. All of the common stock shares will be offered by Corvus themself.
Additionally, Corvus also granted the underwriters of the offerings a 30-day option so that they can purchase an additional 1,185,101 shares of common stock at the time of the public offering price. Corvus is expecting to make use of the net proceeds from the offerings for working capital and general corporate purposes. This may include capital expenditures and research and development, which can be applicable to its Phase 3T cell lymphoma, Phase 2 atopic dermatitis, hidradentitis suppurativa, and asthma clinical trials. Richard A. Miller, M.D, co-founder, president, and chief executive officer of Corvus, said that, “The results from cohort 4 increase our confidence that soquelitinib could become a leading oral therapy for the treatment of atopic dermatitis.” The offering can be expected to close on or about January 23, 2026, subject to customary conditions.
The joint lead book-running managers for the offering are Jefferies and Goldman Sachs & Co.LLC While Mizuho is the bookrunner of the offering, Ladenburg Thalmann & Co LLC is acting as its co-manager for the offering.
Regulations Offered by the SEC
The Securities and Exchange Commission (SEC) declared the shelf registration statement on the Form S-3 effective on August 15, 2024. SEC issued another related registration statement on January 21, 2026, under the Securities Act of 1933. The offering of these securities is being made by means of prospectus supplements and the accompanying prospectus forming a part of the effective registration statements. A preliminary prospectus supplement, along with the accompanying prospectus, will be filed by the SEC and published on the official website of the SEC. A copy of these can be obtained from Jefferies LLC.
The press release should not constitute any offer to sell or solicit an offer to buy, nor shall there be any offer or sale of. The securities in any state or jurisdiction in which such offer, solicitation, or sale would be considered unlawful before the registration or qualification of the securities under the securities laws of any such state or jurisdiction.
About Corvus Pharmaceuticals
It is a clinical-stage biopharmaceutical company that has pioneered in the development of ITK inhibition. Which is a new approach to immunotherapy for a broad range of immune diseases and cancer. The company’s major product is Soquelitinib, a small-molecule drug that can selectively inhibit ITK. Soquelitinib is being evaluated in the registration Phase 3 clinical trial for the relapsed or refractory PTCL in the Phase 1 clinical trial; this can be used in the treatment of atopic dermatitis.
