Corvus Pharmaceuticals, Inc.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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FY2025 · Filed Mar 12, 2026
CRVS$11.37+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | |
| · · Year Ended December 31, | |||||||||
| · · 2025 · · 2024 · · 2023 | |||||||||
| Cash flows from operating activities · · · · · · · | |||||||||
| Net loss | | $(15,283) | | $(62,293) | | $(27,029) | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | | | |||
| Depreciation and amortization | | 105 | | 85 | | 151 | |||
| Accretion related to marketable securities | | (1,345) | | (1,141) | | (894) | |||
| Stock-based compensation | | 5,330 | | 3,003 | | 2,147 | |||
| Gain from sale of property and equipment | | — | | (5) | | — | |||
| Change in fair value of warrant liability | | (27,141) | | 33,377 | | — | |||
| Loss from equity method investment | | 1,958 | | 3,197 | | 5,284 | |||
| Changes in operating assets and liabilities: | | | | | | | |||
| Accounts receivable - related party | | 38 | | (49) | | 562 | |||
| Prepaid and other current assets | | 941 | | (1,587) | | (8) | |||
| Operating lease right-of-use asset | | | 338 | | | (28) | | | 1,068 |
| Other assets | | | (223) | | | (543) | | | 40 |
| Accounts payable | | (91) | | 1,057 | | (451) | |||
| Accrued and other liabilities | | 2,761 | | (245) | | (3,578) | |||
| Operating lease liability | | | (185) | | | (252) | | | (1,227) |
| Net cash used in operating activities | | (32,797) | | (25,424) | | (23,935) | |||
| Cash flows from investing activities | | | | | | | |||
| Purchases of marketable securities | | (91,750) | | (70,119) | | (47,048) | |||
| Maturities of marketable securities | | 84,128 | | 42,630 | | 62,623 | |||
| Purchases of property and equipment | | (174) | | — | | (34) | |||
| Proceeds from sale of property and equipment | | | — | | | 5 | | | — |
| Net cash provided by (used in) investing activities | | (7,796) | | (27,484) | | 15,541 | |||
| Cash flows from financing activities | | | | | | | |||
| Proceeds from issuance of common stock, net (includes $1,794 in aggregate gross proceeds from related parties) | | — | | 16,405 | | — | |||
| Proceeds from issuance of pre-funded warrants, net (includes $1,769 in aggregate gross proceeds from related parties) | | — | | 5,031 | | — | |||
| Proceeds from issuance of common warrants (includes $1,472 in aggregate gross proceeds from related parties) | | — | | 8,934 | | — | |||
| Proceeds from the exercise of common stock warrants (includes $4,960 in aggregate gross proceeds from related parties for the year ended December 31, 2025) | | | 35,745 | | | 18,590 | | — | |
| Proceeds from issuance of common stock in connection with at-the-market offering, net | | | — | | | — | | | 7,843 |
| Proceeds from exercise of common stock options | | 684 | | 68 | | 12 | |||
| Net cash provided by financing activities | | 36,429 | | 49,028 | | 7,855 | |||
| Net decrease in cash and cash equivalents | | (4,164) | | (3,880) | | (539) | |||
| Cash and cash equivalents at beginning of the period | | 8,740 | | 12,620 | | 13,159 | |||
| Cash and cash equivalents at end of the period | | $4,576 | | $8,740 | | $12,620 | |||
| Supplemental disclosures of cash flow information | | | | | | | |||
| Reclassification of common stock warrant liability into additional paid-in capital upon exercise of common stock warrants | | $1,769 | | $13,401 | | $— | |||
| Right-of-use asset obtained in exchange for operating lease liability | | — | | 1,211 | | — | |||
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