$CRVS
Corvus Pharmaceuticals, Inc.

2022 Q4 Form 10-Q Financial Statement

#000155837022016233 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.586M $2.108M $2.056M
YoY Change -21.56% 2.53% -36.35%
% of Gross Profit
Research & Development $4.080M $10.37M $6.991M
YoY Change -14.79% 48.26% 5.62%
% of Gross Profit
Depreciation & Amortization $94.00K $94.00K $108.0K
YoY Change 1.08% -12.96% -28.0%
% of Gross Profit
Operating Expenses $5.666M $12.47M $9.047M
YoY Change -16.8% 37.87% -8.11%
Operating Profit -$12.47M -$9.047M
YoY Change 37.87% -8.11%
Interest Expense -$4.320M -$2.505M -$1.720M
YoY Change 68.29% 45.64% -3540.0%
% of Operating Profit
Other Income/Expense, Net $148.0K $147.0K $94.00K
YoY Change 4.96% 56.38%
Pretax Income -$9.816M -$14.83M -$10.67M
YoY Change 6.28% 38.96% 8.95%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$9.816M -$14.83M -$10.67M
YoY Change 6.28% 38.96% 8.95%
Net Earnings / Revenue
Basic Earnings Per Share -$0.32 -$0.24
Diluted Earnings Per Share -$0.21 -$0.26 -$0.24
COMMON SHARES
Basic Shares Outstanding 46.55M 46.55M 42.42M
Diluted Shares Outstanding 46.55M 43.95M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.30M $49.62M $76.33M
YoY Change -39.09% -35.0% 48.5%
Cash & Equivalents $13.16M $24.59M $72.30M
Short-Term Investments $29.14M $25.03M $4.034M
Other Short-Term Assets $102.0K $397.0K $98.00K
YoY Change -20.31% 305.1% -78.13%
Inventory
Prepaid Expenses
Receivables $588.0K $503.0K $276.0K
Other Receivables $45.00K $31.00K $47.00K
Total Short-Term Assets $43.66M $51.27M $78.76M
YoY Change -38.77% -34.9% 49.99%
LONG-TERM ASSETS
Property, Plant & Equipment $353.0K $447.0K $539.0K
YoY Change -21.73% -17.07% -48.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.88M $25.91M $36.33M
YoY Change -36.16% -28.67%
Other Assets $129.0K $248.0K $279.0K
YoY Change -45.34% -11.11% -41.88%
Total Long-Term Assets $24.58M $29.08M $40.57M
YoY Change -35.57% -28.32% 1109.84%
TOTAL ASSETS
Total Short-Term Assets $43.66M $51.27M $78.76M
Total Long-Term Assets $24.58M $29.08M $40.57M
Total Assets $68.24M $80.35M $119.3M
YoY Change -37.65% -32.66% 113.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.976M $4.227M $2.334M
YoY Change 26.26% 81.11% -9.22%
Accrued Expenses $8.776M $9.751M $8.971M
YoY Change 7.99% 8.69% -4.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.75M $13.98M $11.31M
YoY Change 10.94% 23.64% -5.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.373M $1.689M $2.870M
YoY Change -47.21% -41.15% 91.33%
Total Long-Term Liabilities $1.373M $1.689M $2.870M
YoY Change -47.21% -41.15% 91.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.75M $13.98M $11.31M
Total Long-Term Liabilities $1.373M $1.689M $2.870M
Total Liabilities $12.13M $15.67M $14.18M
YoY Change -1.37% 10.53% 4.91%
SHAREHOLDERS EQUITY
Retained Earnings -$307.7M -$297.9M -$257.1M
YoY Change 15.51% 15.87% 2.63%
Common Stock $364.4M $363.7M $360.9M
YoY Change 0.74% 0.78% 23.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $56.12M $64.68M $105.1M
YoY Change
Total Liabilities & Shareholders Equity $68.24M $80.35M $119.3M
YoY Change -37.65% -32.66% 113.6%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$9.816M -$14.83M -$10.67M
YoY Change 6.28% 38.96% 8.95%
Depreciation, Depletion And Amortization $94.00K $94.00K $108.0K
YoY Change 1.08% -12.96% -28.0%
Cash From Operating Activities -$7.547M -$6.929M -$8.425M
YoY Change 10.08% -17.76% 8.99%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$265.0K $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$3.882M $3.305M $3.471M
YoY Change 94.68% -4.78% -65.32%
Cash From Investing Activities -$3.882M $3.040M $3.471M
YoY Change 94.2% -12.42% -65.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 18.33M
YoY Change -100.0% -100.0% 26091.43%
NET CHANGE
Cash From Operating Activities -7.547M -6.929M -8.425M
Cash From Investing Activities -3.882M 3.040M 3.471M
Cash From Financing Activities 0.000 0.000 18.33M
Net Change In Cash -11.43M -3.889M 13.38M
YoY Change 29.33% -129.07% 486.84%
FREE CASH FLOW
Cash From Operating Activities -$7.547M -$6.929M -$8.425M
Capital Expenditures $0.00 -$265.0K $0.00
Free Cash Flow -$7.547M -$6.664M -$8.425M
YoY Change 10.16% -20.9% 10.13%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.84
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.84
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46553511
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43947004
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46553511
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40270954
CY2022Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46553511
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43947004
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46553511
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40270954
CY2022Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2022Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2022Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
46553511
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
46553511
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46553511
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
dei Entity Central Index Key
EntityCentralIndexKey
0001626971
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Amendment Flag
AmendmentFlag
false
CY2021Q3 crvs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
2400000
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-09-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Registrant Name
EntityRegistrantName
Corvus Pharmaceuticals, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity File Number
EntityFileNumber
001-37719
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-4670809
dei Entity Address Address Line1
EntityAddressAddressLine1
863 Mitten Road, Suite 102
dei Entity Address City Or Town
EntityAddressCityOrTown
Burlingame
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94010
dei City Area Code
CityAreaCode
650
dei Local Phone Number
LocalPhoneNumber
900-4520
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
CRVS
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2022Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
46553511
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
24588000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
63458000
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
25029000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
5993000
CY2022Q3 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
503000
CY2021Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
507000
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1152000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1354000
CY2022Q3 us-gaap Assets Current
AssetsCurrent
51272000
CY2021Q4 us-gaap Assets Current
AssetsCurrent
71312000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
447000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
451000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2467000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3190000
CY2022Q3 us-gaap Equity Method Investments
EquityMethodInvestments
25914000
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
34266000
CY2022Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
248000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
236000
CY2022Q3 us-gaap Assets
Assets
80348000
CY2021Q4 us-gaap Assets
Assets
109455000
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
4227000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1565000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1181000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1046000
CY2022Q3 crvs Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
8570000
CY2021Q4 crvs Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
7081000
CY2022Q3 us-gaap Liabilities Current
LiabilitiesCurrent
13978000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
9692000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1689000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2601000
CY2022Q3 us-gaap Liabilities
Liabilities
15667000
CY2021Q4 us-gaap Liabilities
Liabilities
12293000
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
290000000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
290000000
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46553511
CY2022Q3 us-gaap Common Stock Value
CommonStockValue
5000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
5000
CY2022Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
363741000
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
361669000
CY2022Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1193000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
1869000
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-297872000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-266381000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
64681000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
97162000
CY2022Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
80348000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
109455000
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10365000
CY2021Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6991000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20388000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
24327000
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2108000
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2056000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6511000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7493000
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
12473000
CY2021Q3 us-gaap Operating Expenses
OperatingExpenses
9047000
us-gaap Operating Expenses
OperatingExpenses
26899000
us-gaap Operating Expenses
OperatingExpenses
31820000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-12473000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-9047000
us-gaap Operating Income Loss
OperatingIncomeLoss
-26899000
us-gaap Operating Income Loss
OperatingIncomeLoss
-31820000
CY2022Q3 crvs Interest Income And Other Expense Net
InterestIncomeAndOtherExpenseNet
225000
CY2021Q3 crvs Interest Income And Other Expense Net
InterestIncomeAndOtherExpenseNet
-11000
crvs Interest Income And Other Expense Net
InterestIncomeAndOtherExpenseNet
336000
crvs Interest Income And Other Expense Net
InterestIncomeAndOtherExpenseNet
-7000
CY2022Q3 crvs Sublease Income Related Party
SubleaseIncomeRelatedParty
147000
CY2021Q3 crvs Sublease Income Related Party
SubleaseIncomeRelatedParty
94000
crvs Sublease Income Related Party
SubleaseIncomeRelatedParty
439000
crvs Sublease Income Related Party
SubleaseIncomeRelatedParty
94000
CY2022Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-2730000
CY2021Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-1709000
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-5367000
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-2272000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-14831000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-10673000
us-gaap Net Income Loss
NetIncomeLoss
-31491000
us-gaap Net Income Loss
NetIncomeLoss
-34005000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.84
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46553511
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43947004
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46553511
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40270954
CY2022Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
5000
CY2021Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-2000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-77000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-4000
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1537000
CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-10000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2985000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1375000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-16363000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10685000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-34553000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-32634000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
97162000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
739000
CY2022Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-28000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-8297000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
89722000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
675000
CY2022Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-54000
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1594000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-8363000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
80386000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
658000
CY2022Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
5000
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1537000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-14831000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
64681000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
72148000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1225000
CY2021Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
2000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-11580000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
94385000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1173000
CY2021Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-4000
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1385000
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
11216000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-11752000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
96403000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1197000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1096000
CY2021Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-2000
CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-10000
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
17137000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-10673000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
105148000
us-gaap Profit Loss
ProfitLoss
-31491000
us-gaap Profit Loss
ProfitLoss
-34005000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
273000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
367000
crvs Amortization Accretion Related To Marketable Securities
AmortizationAccretionRelatedToMarketableSecurities
12000
crvs Amortization Accretion Related To Marketable Securities
AmortizationAccretionRelatedToMarketableSecurities
207000
us-gaap Share Based Compensation
ShareBasedCompensation
2072000
us-gaap Share Based Compensation
ShareBasedCompensation
3494000
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-5367000
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-2272000
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-4000
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
276000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-202000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1075000
crvs Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
723000
crvs Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-1772000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
12000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-135000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2662000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1133000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1489000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
352000
crvs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
777000
crvs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1575000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19476000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-29859000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
46890000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
4863000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
27765000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
28422000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
269000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19394000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
23559000
crvs Proceeds From Issuance Of Common Stock Related Party
ProceedsFromIssuanceOfCommonStockRelatedParty
4850000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
31989000
crvs Proceeds From Issuance Of Common Stocks For Market Offers
ProceedsFromIssuanceOfCommonStocksForMarketOffers
28954000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1197000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
62140000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-38870000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
55840000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63458000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16455000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24588000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72295000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">1. Organization</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">Corvus Pharmaceuticals, Inc. (“Corvus” or the “Company”) was incorporated in Delaware on January 27, 2014 and commenced operations in November 2014. Corvus is a clinical-stage biopharmaceutical company. The Company’s operations are located in Burlingame, California.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Presentation</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Corvus Biopharmaceuticals, Ltd. and Corvus Hong Kong Limited. All significant intercompany accounts and transactions have been eliminated from the consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Initial Public Offering</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>On March 22, 2016, the Company’s registration statement on Form S-1 (File No. 333-208850) relating to its initial public offering (“IPO”) of its common stock was declared effective by the Securities and Exchange Commission (“SEC”) and the shares of its common stock began trading on the Nasdaq Global Market on March 23, 2016. The public offering price of the shares sold in the IPO was $15.00 per share. The IPO closed on March 29, 2016, pursuant to which the Company sold 4,700,000 shares of its common stock. On April 26, 2016, the Company sold an additional 502,618 shares of its common stock to the underwriters upon partial exercise of their over-allotment option, at the initial offering price of $15.00 per share. The Company received aggregate net proceeds of approximately $70.6 million, after underwriting discounts, commissions and offering expenses. Immediately prior to the consummation of the IPO, all outstanding shares of redeemable convertible preferred stock were converted into common stock.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Follow-on Public Offerings</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>In March 2018, the Company completed a follow-on public offering in which the Company sold 8,117,647 shares of common stock at a price of $8.50 per share, which included 1,058,823 shares issued pursuant to the underwriters’ exercise of their option to purchase additional shares of common stock. The aggregate net proceeds received by the Company from the offering were approximately $64.9 million, net of underwriting discounts and commissions and offering expenses payable by the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>In February 2021, the Company completed a follow-on public offering in which the Company sold 9,783,660 shares of common stock at a price of $3.50 per share, which included 1,212,231 shares issued pursuant to the underwriters’ exercise of their option to purchase additional shares of common stock. The aggregate net proceeds received by the Company from the offering were approximately $32.0 million, net of underwriting discounts and commissions and offering expenses.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Liquidity</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, protection of proprietary technology, dependence on key personnel, contract manufacturer and contract research organizations, compliance with government regulations and the need to obtain additional financing to fund operations. Since commencing operations in 2014, the majority of the Company’s efforts have been focused on the research and development of CPI-818, ciforadenant and mupadolimab (formerly CPI-006). The Company believes that it will continue to expend substantial resources for the foreseeable future as it continues clinical development of, seek regulatory approval for and, if approved, prepare for the commercialization of CPI-818, ciforadenant and mupadolimab, as well as product candidates under the Company’s other development programs. These expenditures will include costs associated with research and development, conducting preclinical studies and clinical trials, obtaining regulatory </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;">approvals, manufacturing and supply, sales and marketing and general operations. In addition, other unanticipated costs may arise. Because the outcome of any clinical trial and/or regulatory approval process is highly uncertain, the Company may not be able to accurately estimate the actual amounts necessary to successfully complete the development, regulatory approval process and commercialization of CPI-818, ciforadenant and mupadolimab or any other product candidates. The Company does not expect its existing capital resources to be sufficient to enable it to fund the completion of its clinical trials and remaining development program of CPI-818, ciforadenant and mupadolimab through commercialization. In addition, its operating plan may change as a result of many factors, including those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed on March 10, 2022 and this Quarterly Report on Form 10-Q.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>The Company has incurred significant losses and negative cash flows from operations in all periods since inception and had an accumulated deficit of $297.9 million as of September 30, 2022. The Company has historically financed its operations primarily through the sale of common stock and redeemable convertible preferred stock. While the Company has been able to raise multiple rounds of financing, there can be no assurance that in the event the Company requires additional financing, such financing will be available on terms which are favorable or at all. Failure to generate sufficient cash flows from operations, raise additional capital or reduce certain discretionary spending would have a material adverse effect on the Company’s ability to achieve its intended business objectives.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>As of September 30, 2022, the Company had cash, cash equivalents and short-term marketable securities of $49.6 million. Management believes that the Company’s current cash, cash equivalents and short-term marketable securities will be sufficient to fund its planned operations for at least 12 months from the date of the issuance of these financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>The current COVID-19 (coronavirus) pandemic, which is impacting worldwide economic activity, poses risks that the Company or its employees, contractors, suppliers, and other partners may be prevented from conducting business activities for an indefinite period of time, including due to shutdowns that may be requested or mandated by governmental authorities. The extent to which COVID-19 impacts the Company’s business, including its clinical trials and financial condition, will depend on future developments, which are highly uncertain and cannot be predicted with confidence, such as the spread of the disease, the duration of the pandemic, travel restrictions and social distancing in the United States and other countries, business closures or business disruptions and the effectiveness of actions taken in the United States and other countries to contain and treat the disease. As COVID-19 continues to spread around the globe, including the spread of more contagious and virulent variants, we will likely experience disruptions, including delays or difficulties in enrolling patients in our clinical trials, delays or difficulties in clinical site initiation, interruption of key clinical trial activities, delays in clinical sites receiving the supplies and materials needed to conduct our clinical trials and delays in necessary interactions with local regulatory authorities. COVID-19 may also impact the Company’s ability to raise additional capital on a timely basis or at all, which could negatively impact short-term and long-term liquidity.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Exchange Warrants</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>On November 8, 2019, the Company entered into an exchange agreement (the “Exchange Agreement”) with an investor and its affiliates (the “Exchanging Stockholders”), pursuant to which the Company exchanged an aggregate of 1,458,000 shares of the Company’s common stock, par value $0.0001 per share, owned by the Exchanging Stockholders for pre-funded warrants (the “Exchange Warrants”) to purchase an aggregate of 1,458,000 shares of common stock (subject to adjustment in the event of any stock dividends and splits, reverse stock split, recapitalization, reorganization or similar transaction, as described in the Exchange Warrants), with an exercise price of $0.0001 per share. The Exchange Warrants were exercisable at any time prior to expiration. In accordance with Accounting Standards Codification Topic 505, Equity, and Accounting Research Bulletin 43, the Company recorded the retirement of the common stock exchanged as a reduction of common shares outstanding and elected to record the excess over par value as a debit to additional paid-in-capital at the fair value of the Exchange Warrants on the issuance date. The Exchange Warrants were classified as equity in accordance with Accounting Standards Codification Topic 480, Distinguishing Liabilities from Equity, and Accounting Standards Codification Topic 815, Derivatives and Hedging, and the fair value of the Exchange Warrants was recorded as a credit to additional paid-in capital and is not subject to remeasurement. The Company determined that the fair value of the Exchange Warrants is substantially similar to the fair value of the retired shares on the issuance date due to the negligible exercise price for the Exchange Warrants.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>In September 2021, the Exchange Warrants were fully exercised, resulting in the issuance of 1,457,947 shares of common stock on a net exercise basis.</p>
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-297900000
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
49600000
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-297900000
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
49600000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from such estimates.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Concentrations of Credit Risk and Other Risks and Uncertainties</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">Substantially all of the Company’s cash and cash equivalents are deposited in accounts with two financial institutions that management believes are of high credit quality. Such deposits may, at times, exceed federally insured </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">limits. The Company maintains its cash with an accredited financial institution and accordingly, such funds are subject to minimal credit risk. The Company’s marketable securities consist of investments in U.S. Treasury securities and U.S. government agency securities, which can be subject to certain credit risks. However, the Company mitigates the risks by investing in high-grade instruments, limiting its exposure to any one issuer, and monitoring the ongoing creditworthiness of the financial institutions and issuers. The Company has not experienced any losses on its deposits of cash, cash equivalents or marketable securities.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">The Company is subject to a number of risks similar to other early stage biopharmaceutical companies, including, but not limited to, the need to obtain adequate additional funding, possible failure of preclinical testing or clinical trials, its reliance on third parties to conduct its clinical trials, the need to obtain marketing approval for its product candidates, competitors developing new technological innovations, the need to successfully commercialize and gain market acceptance of the Company’s product candidates, its right to develop and commercialize its product candidates pursuant to the terms and conditions of the licenses granted to the Company, and protection of proprietary technology. If the Company does not successfully commercialize or partner any of its product candidates, it will be unable to generate product revenue or achieve profitability.</p>
crvs Number Of Financial Institutions
NumberOfFinancialInstitutions
2
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
81000
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
25029000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-14831000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-10673000
us-gaap Net Income Loss
NetIncomeLoss
-31491000
us-gaap Net Income Loss
NetIncomeLoss
-34005000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46553511
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43947004
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46553511
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40270954
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.84
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1458000
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1458000
CY2022Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
crvs Maximum Remaining Maturity Of Marketable Securities
MaximumRemainingMaturityOfMarketableSecurities
P11M
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
25109000
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
5996000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
5993000
CY2022Q3 us-gaap Interest Receivable
InterestReceivable
31000
CY2021Q4 us-gaap Interest Receivable
InterestReceivable
32000
CY2022Q3 crvs Prepaid Research And Development Manufacturing Expenses
PrepaidResearchAndDevelopmentManufacturingExpenses
130000
CY2021Q4 crvs Prepaid Research And Development Manufacturing Expenses
PrepaidResearchAndDevelopmentManufacturingExpenses
740000
CY2022Q3 crvs Prepaid Facility Expenses
PrepaidFacilityExpenses
182000
CY2021Q4 crvs Prepaid Facility Expenses
PrepaidFacilityExpenses
174000
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
412000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
280000
CY2022Q3 us-gaap Other Assets Current
OtherAssetsCurrent
397000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
128000
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1152000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1354000
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4973000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4703000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4526000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4252000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
447000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
451000
CY2022Q3 crvs Accrual For Preclinical And Clinical Trial Current
AccrualForPreclinicalAndClinicalTrialCurrent
3280000
CY2021Q4 crvs Accrual For Preclinical And Clinical Trial Current
AccrualForPreclinicalAndClinicalTrialCurrent
4010000
CY2022Q3 crvs Accrued Manufacturing Expense Current
AccruedManufacturingExpenseCurrent
3717000
CY2021Q4 crvs Accrued Manufacturing Expense Current
AccruedManufacturingExpenseCurrent
839000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1343000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1846000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
54000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
265000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
176000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
121000
CY2022Q3 crvs Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
8570000
CY2021Q4 crvs Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
7081000
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
290000000
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q3 crvs Common Stock Voting Rights Number Of Votes Per Share
CommonStockVotingRightsNumberOfVotesPerShare
1
us-gaap Dividends Common Stock
DividendsCommonStock
0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3494000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3953393
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2806953
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7069868
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6354308
CY2022Q3 crvs Number Of Shares Reserved For Employee Stock Purchase Plan
NumberOfSharesReservedForEmployeeStockPurchasePlan
400000
CY2021Q4 crvs Number Of Shares Reserved For Employee Stock Purchase Plan
NumberOfSharesReservedForEmployeeStockPurchasePlan
400000
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11423261
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9561261
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
658000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1096000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2072000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
8138
CY2015Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P1Y
CY2021Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
27280
crvs Landlord Provided Free Rent And Lease Incentives
LandlordProvidedFreeRentAndLeaseIncentives
1900000
CY2021Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P2Y
CY2021Q3 crvs Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
2400000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2500000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3200000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
306000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
261000
us-gaap Operating Lease Cost
OperatingLeaseCost
746000
us-gaap Operating Lease Cost
OperatingLeaseCost
740000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
108000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
98000
us-gaap Variable Lease Cost
VariableLeaseCost
241000
us-gaap Variable Lease Cost
VariableLeaseCost
298000
CY2022Q3 us-gaap Lease Cost
LeaseCost
414000
CY2021Q3 us-gaap Lease Cost
LeaseCost
359000
us-gaap Lease Cost
LeaseCost
987000
us-gaap Lease Cost
LeaseCost
1038000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
433000
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
413000
us-gaap Operating Lease Payments
OperatingLeasePayments
1265000
us-gaap Operating Lease Payments
OperatingLeasePayments
1240000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
325000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1391000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1434000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3150000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
280000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2870000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1300000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1391000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1434000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4125000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
478000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3647000
CY2021Q3 crvs Area Of Property Subleased
AreaOfPropertySubleased
7585
CY2022Q3 crvs Sublease Income Related Party
SubleaseIncomeRelatedParty
100000
crvs Sublease Income Related Party
SubleaseIncomeRelatedParty
400000
CY2015Q3 us-gaap Security Deposit
SecurityDeposit
100000

Files In Submission

Name View Source Status
crvs-20220930_cal.xml Edgar Link unprocessable
0001558370-22-016233-index-headers.html Edgar Link pending
0001558370-22-016233-index.html Edgar Link pending
0001558370-22-016233.txt Edgar Link pending
0001558370-22-016233-xbrl.zip Edgar Link pending
crvs-20220930.xsd Edgar Link pending
crvs-20220930x10q.htm Edgar Link pending
crvs-20220930x10q_htm.xml Edgar Link completed
crvs-20220930xex31d1.htm Edgar Link pending
crvs-20220930xex31d2.htm Edgar Link pending
crvs-20220930xex32d1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
crvs-20220930_def.xml Edgar Link unprocessable
crvs-20220930_lab.xml Edgar Link unprocessable
crvs-20220930_pre.xml Edgar Link unprocessable
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending