Corvus Pharmaceuticals Inc (NASDAQ: CRVS)
Corvus Pharmaceuticals is having an overwhelmingly rough time in the market at the moment. Minutes ago, the stock went on a deep dive. The volume on the dive caused a halt on the stock, prompting our partners at Trade Ideas to alert us to the movement. At 1:09, CRVS was halted, trading at $12.55 per share after a loss of $8.16 per share (39.40%) thus far today.
CRVS Falls Hard On Clinical Results
As mentioned above, Corvus Pharmaceuticals is having an overwhelmingly rough time in the market at the moment. The stock took a dive and was then halted after releasing clinical results. The results came from data surrounding treatment with CPI-444 as a single agent as well as in combination with wtezolizumab.
The data showed that the treatment was well tolerated and resulted in anti-tumor activity in patients with multiple types of advanced tumors. In the release, the company had the following to offer:
“Of 14 patients with tumor regression, three experienced a partial response (reduction of tumor volume > 30% ) and 11 experienced minor tumor regression (change in tumor volume of 0% to reduction of tumor volume = 30%). Nine of these patients were resistant or refractory to prior anti-PD-(L)1 therapy. The three patients who experienced a partial response included one renal cell cancer patient who received single-agent CPI-444, and one non-small cell lung cancer patient and one colorectal cancer patient who both received the combination therapy. The 11 patients who experienced minor regression of their tumor included seven patients who received single-agent CPI-444 and four who received the combination therapy. Of the 37 patients who showed evidence of disease control, 23 remain on treatment.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching CRVS incredibly closely. While the data was outlined in a positive way, investors are clearly viewing it as negative. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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