Corvus Pharmaceuticals Tumbles Despite Upbeat Comments From CEO -- Market Talk

Dow Jones2024-12-19

1349 ET - Corvus Pharmaceuticals plunges 40% following interim data from a Phase 1 clinical trial of its eczema treatment. CEO Richard Miller says the company is pleased with the early results of its soquelitinib treatment. Investors, though, appear unsold. Oppenheimer analyst Jeff Jones says the drop might be a "buy the rumor, sell the news," reaction since shares were up nearly 300% year-to-date. Or investors might've been expecting data from both cohort 1 and 2 and were disappointed that only cohort 1 data was released, he adds. (connor.hart@wsj.com)

(END) Dow Jones Newswires

December 18, 2024 13:49 ET (18:49 GMT)

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