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Investing.com -- Shares of Corvus Pharmaceuticals Inc (NASDAQ:CRVS) climbed 18.2% following the release of encouraging interim data from their Phase 1 clinical trial of soquelitinib in patients with moderate to severe atopic dermatitis. The study indicated a favorable safety and efficacy profile, particularly in cohort 3, which received a higher dosage of the treatment.
According to the results published on May 6, 2025, the 200 mg twice per day dosage demonstrated earlier and deeper responses than the lower dosages. Across all cohorts, those treated with soquelitinib showed significant improvements compared to placebo, based on Eczema Area and Severity Index (EASI) 75 and Investigator Global Assessment (IGA) 0 or 1 scores.
Dr. Richard A. Miller, CEO of Corvus, expressed optimism about the trial’s outcomes, highlighting the short treatment duration of 28 days and the durable post-treatment results. He also noted the potential disease-modifying effects of ITK inhibition, a novel mechanism of action of soquelitinib. The company has amended the trial protocol to evaluate an additional 24 patients at the 200 mg dose over an 8-week period, aiming to further substantiate the drug’s effectiveness for a subsequent Phase 2 trial planned to commence before the year’s end.
Safety data from the trial showed that soquelitinib was well tolerated with no dose limiting toxicities and no clinically significant laboratory abnormalities. Adverse events were mild, with only one treatment-related case of grade 1 nausea reported.
In response to the promising data, Oppenheimer analyst Jeff Jones maintained an Outperform rating on Corvus Pharmaceuticals’ stock and raised the price target from $2 to $17. Jones commented, "We view CRVS’s three clinical-stage programs as promising, with the pipeline including the first-in-class ITK antagonist soquelitinib (CPI-818), and a potentially best-in-class A2Ar antagonist, ciforadenant (CPI-444). Recent clinical updates for soquelitinib continue to support single agent activity in a biomarker defined subset of patients with (r/r PTCL), with the pivotal study underway. Expansion into I&I indications is supported by the latest data for soquelinitinb in AD."
This positive analyst outlook and the trial results have clearly resonated with investors, leading to a significant uptick in Corvus Pharmaceuticals’ stock during the trading session.
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