Corvus Pharma Commences $150 Million Share Offering; Shares Drop 8.3% Post-Announcement

Corvus Pharma Inc. (NASDAQ: CRVS) announced on January 21, 2026, the initiation of a public offering of up to $150 million in common shares. The company plans to use proceeds for clinical development, working capital, and general corporate purposes. The stock fell 8.3% to $14.72 in early trading following the announcement. The offering includes an underwriting syndicate led by BofA Securities and Piper Sandler. Corvus expects to close the transaction by February 15, 2026, subject to market conditions and regulatory approvals. The company’s pipeline includes investigational therapies targeting autoimmune diseases and oncology, with Phase 2 trials ongoing for its lead candidate, CPX-351.