Corvus Pharmaceuticals (CRVS) Files $115M IPO

Corvus Pharmaceuticals, Inc. (Nasdaq: CRVS) filed a registration with the U.S. SEC for an IPO of its common stock. The proposed maximum offering price is $115 million. The company plans to list on the Nasdaq under the symbol, "CRVS."

Underwriters are Credit Suisse, Cowen and Company, Guggenheim Securities, Cantor Fitzgerald & Co., and BTIG.

Corvus Pharmaceuticals a clinical stage biopharmaceutical company focused on the development and commercialization of novel immuno-oncology therapies that are designed to harness the immune system to attack cancer cells.

The company continued: Since we began operations in November 2014, we have built a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response. Our lead product candidate, CPI-444, is an oral, small molecule antagonist of the A2A receptor for adenosine, an immune checkpoint. We plan to begin a large expansion cohort trial for CPI-444 in the first quarter of 2016. This Phase 1/1b clinical trial is designed to examine safety, tolerability, biomarkers and preliminary efficacy of CPI-444 in several solid tumor types, both as a single agent and in combination with Genentech, Inc.'s investigational cancer immunotherapy, atezolizumab, a fully humanized monoclonal antibody targeting PDL-1. We have a lead development candidate for our second program, an anti-CD73 monoclonal antibody that inhibits the production of adenosine, and plan to select development candidates for our other two programs in 2016. We believe the breadth and status of our pipeline demonstrates our management team's expertise in understanding and developing immuno-oncology assets as well as in identifying product candidates that can be in-licensed and further developed internally to treat many types of cancer. We hold worldwide rights to all of our product candidates.

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