Corvus Pharmaceuticals Inc (CRVS)

[PatBoone]

I don't know about accumulation. I've been buying this stock since 2018 when they announced the only ITKi in the clinic, CPI-818. I won't pretend to be able to predict stock price movement. Personally I assigned zero value to their A2A inhibitor or anti-CD73; but that's just me. I'm a molecule guy; I follow the molecule, and CPI-818 is shaping up to be one hell of a molecule, after almost 5 years of waiting and meandering in Phase 1a, finding the dose and understanding its mechanism of action. I'm also heartened that it appears that Richard has learned his lesson from his debacle at Pharmacyclics, where his stubbornness and refusal to let go of the failed motexafin gadolinium led him to lose control of the company and the first BtKi that was the mega blockbuster ibrutinib; it appears that he's now prioritizing CPI-818 over everything; about time.

IF it's true what Richard said regarding CPI-818 specificity regarding its ability to differentiate between ITK and RLK (the difference being only amino acid between these two related kinases), then this molecule will have a huge potential in autoimmune diseases that originate from Th2 dysfunction. That alone is a mega blockbuster, $20bil+.

IF the skewing of lymphocytes toward Th1 (the killer cells that eliminate cancer cells and viral infection) is the mechanism of action of CPI-818, and we see similar objective response rate in solid tumors for patients with ALC > 900 or who have normal ALC of 100-4000, then this molecule will be used with every approved drugs in solid tumors. That alone is a mega blockbuster. Potential value there is unprecedented, off the chart. Corvus is planning to start a Phase 1 study with CPI-818 (I'm assuming at the optimal dose of 200mg twice daily) as early as this year, so we won't get that glimpse of initial clinical data until late next year at the earliest, if not mid 2025.