Corvus Shareholders Must Be Happy With This COVID-19 Study Update
Corvus Pharmaceuticals shares were sharply higher on Monday after the company announced updated data from its ongoing early-stage study in patients with COVID-19.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Corvus Pharmaceuticals Inc. (NASDAQ: CRVS) shares were sharply higher on Monday after the company announced updated data from its ongoing early-stage study in patients with COVID-19. These results build on the initial data from the first two cohorts of the study that was published in September.
Specifically, the results come from the Phase 1 study investigating the potential for CPI-006 to provide a novel immunotherapy approach for patients with the coronavirus. The primary efficacy endpoint is the change in serum immunoglobulin (IgM and IgG) anti-SARS-CoV-2 levels compared to baseline at day 28.
The updated data includes 56-day follow-up results from the first two cohorts and initial results from the third cohort of the study. The 56-day follow-up results showed a dose-response, with higher and more prolonged titers of anti-SARS-CoV-2 antibodies in the 1.0 mg/kg cohort compared to the 0.3 mg/kg cohort.
Additionally, the results showed increased levels of memory B cells and memory T cells, and there have been no reports of any drug-related safety issues in any of the 15 patients treated as of September 17, 2020.
[nativounit]
So far, the first three cohorts of the study have been enrolled and the final cohort is currently enrolling patients.
The company continues to anticipate that it will complete the study and report results during the fourth quarter of 2020, including a presentation of data at the Society for Immunotherapy of Cancer (SITC) annual meeting in November.
Corvus Pharma stock traded up 29% to $5.24 Monday morning, in a 52-week range of $1.01 to $6.88. The consensus price target is $9.20.
[recirclink id=799978][wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
