Corvus Pharma slips after launching $150 mln equity offering
Shares of Corvus Pharmaceuticals CRVS.O down 3.5% at $20.66 post-market as it seeks equity raise
Biopharma firm commences $150 mln offering of stock and pre-funded warrants
Co intends to use net offering proceeds for working capital and general purposes, including capex and R&D, including for its Phase 3 T cell lymphoma, and Phase 2 atopic dermatitis, hidradenitis suppurativa and asthma clinical trials
CRVS shares on Tues soared 166% to close at about 7-yr high of $21.41 after co early Tues announced positive early-stage soquelitinib data for atopic dermatitis (eczema)
Jefferies and Goldman Sachs are lead joint bookrunners for offering, joined by Mizuho
South San Francisco, California-based CRVS has ~74.7 mln shares outstanding
Stock gained 44% in 2025
All 7 analysts are bullish on the stock; median PT $18, per LSEG data
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