Shares of Corvus jump on additional data from small Phase 1 trial for COVID-19 treatment

/ / News

Shares of Corvus Pharmaceuticals Inc. gained 39.1% in premarket trading on Monday after the company shared additional interim details from a very small, early-stage clinical trial that indicates its experimental immunotherapy could produce antibodies and T-cells in some COVID-19 patients. The open-label, Phase 1 study has tested at three doses in 15 patients and plans to enroll a total of 30 patients with mild to moderate forms of the disease. A preprint published in September had outlined initial results for two of the doses in 10 patients. (A preprint has not been peer-reviewed.) The company on Monday released data for five additional patients. Full results from the Phase 1 trial are expected to be released before the end of the year. Corvus’ stock is down 25.2% so far this year, while the S&P 500 has gained 3.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.