Why Is CRVS Stock Rising Today?

• Corvus stated that all patients in cohort 4 had completed the 56-day treatment course and had similar baseline characteristics to those in the previous cohort.
• The company added that 75% of the patients in cohort 4 who received soquelitinib achieved EASI 75, while 25% achieved EASI 90.
• Corvus also stated that a third of the patients in the cohort achieved an Investigator Global Assessment score of 0 or 1.

Corvus Pharmaceuticals Inc. (CRVS) shares jumped more than 66% in Tuesday’s opening trade after the company announced positive results from its atopic dermatitis trial.

Corvus stated that cohort 4 of its placebo-controlled trial showed favorable safety and efficacy results consistent with results from the previous three cohorts.

Trial Results

Corvus stated that all patients in cohort 4 had completed the 56-day treatment course and had similar baseline characteristics to those in the previous cohort. However, they had a higher mean baseline EASI (Eczema Area and Severity Index) score compared to patients in cohorts 1 and 2.

The company added that 75% of the patients in cohort 4 who received soquelitinib achieved EASI 75, while 25% achieved EASI 90. Corvus also stated that a third of the patients in the cohort achieved an Investigator Global Assessment score of 0 or 1. A score of 0 or 1 means the condition is “clear” and “almost clear,” respectively.

EASI refers to Eczema Area and Severity Index. It quantifies the severity and extent of eczema signs across regions of the body. EASI 75 points to a greater than or equal to 75% improvement from baseline, while EASI 90 refers to a 90% or more improvement.

“The results from cohort 4 increase our confidence that soquelitinib could become a leading oral therapy for the treatment of atopic dermatitis,” said Corvus CEO Richard A. Miller.

How Did Stocktwits Users React?

Retail sentiment on Stocktwits around Corvus Pharmaceuticals was in the ‘extremely bullish’ territory at the time of writing, while message volume was at ‘extremely high’ levels.

Retail users on Stocktwits gave a thumbs up to Corvus’ atopic dermatitis trial results, with one user appreciating the company’s presentation.

Another user said that “homerun data” was needed to avoid a “sell the news” reaction.

CRVS stock is up 74% year-to-date and 167% over the past 12 months.

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