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Corvus Pharmaceuticals Announces Closing of Upsized Public Offering of Common Stock and Full Exercise of the Underwriters' Option to Purchase Additional Shares, Generating Gross Proceeds of Approximately $201M

SOUTH SAN FRANCISCO, Calif., Jan. 23, 2026 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS), a clinical-stage biopharmaceutical company, today announced the closing of an upsized underwritten public offering of 9,085,778 shares of its common stock, which includes the full exercise of the underwriters' option to purchase 1,185,101 additional shares, at a price to the public of $22.15 per share. Gross proceeds from the underwritten public offering before deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $201.2 million, including proceeds from the full exercise of the underwriters' option to purchase additional shares. All of the shares of common stock were offered by Corvus.

Corvus currently expects to use the net proceeds from this offering for working capital and general corporate purposes, which may include capital expenditures and research and development, including for its Phase 3 T cell lymphoma, and Phase 2 atopic dermatitis, hidradenitis suppurativa and asthma clinical trials, sales and marketing and administrative expenses.

Jefferies and Goldman Sachs & Co. LLC acted as lead book-running managers for the offering. Mizuho acted as bookrunner for the offering. Ladenburg Thalmann acted as co-manager for the offering.

A shelf registration statement on Form S-3 (File No. 333-281318) relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission ("SEC") on August 15, 2024 and a related registration statement that was filed with the SEC on January 21, 2026 pursuant to Rule 462(b) under the Securities Act ...