Angel Completes China Atopic Dermatitis Cohort Enrollment
Cash, cash equivalents and marketable securities stood at $202.9 million at September 30, 2026, and the company said the balance funds operations into the second quarter of 2028.
Corvus Pharmaceuticals, Inc. (CRVS), a clinical-stage biopharmaceutical company developing the ITK inhibitor soquelitinib, said Angel Pharmaceuticals completed enrollment in cohort 1 of a Phase 1b/2 atopic dermatitis trial in China, with topline data now anticipated in March 2027.
The prior business update had said cohort-1 results were expected late in 2026. The 24-patient cohort used 100 mg twice daily, 200 mg once daily and placebo. The company said baseline characteristics of those patients were similar to those of 72 patients in Corvus’ Phase 1 atopic dermatitis trial, including eight Asian patients.
Enrollment in the registrational Phase 3 trial of soquelitinib in relapsed/refractory peripheral T-cell lymphoma and in the SIERRA1 Phase 2 atopic dermatitis trial remained on track, the company said. SIERRA1 is planned to enroll about 200 patients across four 50-patient cohorts plus placebo, with a 12-week treatment period and a primary endpoint of percent change in EASI score at Week 12.
Corvus is also enrolling a Phase 1b hidradenitis suppurativa trial of up to 25 patients on 200 mg twice daily for 12 weeks, with initial data anticipated in the first half of 2027. It plans to initiate a Phase 2 asthma trial by the first quarter of 2027; Angel Pharma anticipates starting its own Phase 2 asthma study in the second quarter of 2027. Chief executive Richard A. Miller said the company is positioned for a series of potentially significant data milestones across the soquelitinib pipeline in 2027.
In the NIAID ALPS Phase 2 trial, three patients had completed 360 days of 200 mg twice-daily soquelitinib, each with a positive response. The company said the ALPS investigational new drug application is planned to be transferred to Corvus and that it plans to meet with the FDA to expand treatment centers and include pediatric patients.
Cash, cash equivalents and marketable securities declined to $202.9 million at September 30, 2026 from $215.2 million at June 30, 2026. The September balance included about $189.4 million of net proceeds from a January 2026 financing. Based on current plans, Corvus expects the cash to fund operations into the second quarter of 2028.
Research and development expenses for the three months ended September 30, 2026 were $17.8 million, up $9.3 million from $8.5 million a year earlier. The company attributed the increase primarily to higher soquelitinib clinical-trial costs and personnel-related costs.
Net loss for the three months ended September 30, 2026 was $20.3 million, or $0.22 a share, compared with $10.2 million, or $0.12 a share, a year earlier. Total operating expenses were $21.4 million, including $3.6 million of general and administrative expense versus $2.1 million a year earlier. Interest income and other expense, net, was $1.9 million. Loss from the Angel Pharmaceuticals equity-method investment was $0.9 million. Stock compensation expense was $2.8 million.
Miller said the company continues to drive the science and advance the breadth of potential clinical indications for ITK inhibition with soquelitinib, citing interest in the hidradenitis suppurativa trial and progress toward the asthma study.
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