CRVS Stock Surges Pre-Market After Corvus Expands Equity Raise To $175 Million

Corvus increased its public stock offering to $175 million from $150 million, making 7.9 million shares of its common stock available for purchase at Wednesday’s closing price of $22.15.

• Corvus stated that it intends to use the net proceeds from this stock offering to meet its working capital and general corporate purpose needs.
• This may include capital expenditures, as well as research and development costs for its Phase 3 T cell lymphoma, and Phase 2 atopic dermatitis, hidradenitis suppurativa, and asthma clinical trials.
• The company expects to close the offering on or about Jan. 23, 2026.

Corvus Pharmaceuticals Inc. (CRVS) shares were up more than 7% in Thursday’s pre-market trade after the company announced an upsized public stock offering.

Corvus increased its public stock offering to $175 million from $150 million, making 7.9 million shares of its common stock available for purchase at Wednesday’s closing price of $22.15. The company stated that underwriters have a 30-day option to purchase an additional 1.18 million shares.

The company expects to close the offering on or about Jan. 23, 2026.

Use Of Net Proceeds

Corvus stated that it intends to use the net proceeds from this stock offering to meet its working capital and general corporate purpose needs.

This may include capital expenditures, as well as research and development costs for its Phase 3 T cell lymphoma, and Phase 2 atopic dermatitis, hidradenitis suppurativa and asthma clinical trials, sales and marketing and administrative expenses.

Positive Atopic Dermatitis Trial Results

Corvus announced on Tuesday that cohort 4 of its placebo-controlled trial showed favorable safety and efficacy results, consistent with those of the previous three cohorts.

Corvus stated that all patients in cohort 4 had completed the 56-day treatment course and had similar baseline characteristics to those in the previous cohort. However, they had a higher mean baseline EASI (Eczema Area and Severity Index) score compared to patients in cohorts 1 and 2.

“The results from cohort 4 increase our confidence that soquelitinib could become a leading oral therapy for the treatment of atopic dermatitis,” said Corvus CEO Richard A. Miller.

Retail Sounds Optimistic

Retail sentiment on Stocktwits around Corvus Pharmaceuticals was in the ‘bullish’ territory at the time of writing, while message volume was at ‘extremely high’ levels.

One bullish user on the platform pointed to inbound partnerships and institutional buying, stating that the stock could “double again soon.”

Another user stated that the CRVS stock will “rocket” once the offering closes.

CRVS stock is up 188% year-to-date and 324% over the past 12 months.

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