Corvus Pharmaceuticals provided a business update and reported financial results for the second quarter ended June 30, 2025, on August 7, 2025. The company's cash, cash equivalents, and marketable securities totaled $74.4 million as of June 30, 2025, a significant increase from $52.0 million at December 31, 2024.
During the second quarter of 2025, all remaining outstanding common stock warrants were exercised, generating substantial proceeds of $35.7 million. This included $2.0 million from warrants exercised by Corvus's CEO, Dr. Miller, further extending the company's cash runway into the fourth quarter of 2026.
The net loss for the second quarter of 2025 was $8.0 million, compared to a net loss of $4.3 million for the same period in 2024. Research and development expenses increased to $7.9 million from $4.1 million in Q2 2024, primarily due to higher clinical trial and manufacturing costs associated with the development of soquelitinib across its multiple indications.
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