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Corvus Pharmaceuticals Announces Positive Phase 1 Data for Soquelitinib in Atopic Dermatitis, Reports $12.7 Million from Warrant Exercise

Dec 18, 2024, 12:41 PM

Corvus Pharmaceuticals, Inc. has announced interim data from a randomized, double-blind, placebo-controlled Phase 1 clinical trial evaluating soquelitinib for the treatment of moderate to severe atopic dermatitis. The trial, which includes patients who have failed prior therapies, reported favorable safety and efficacy profiles at the lowest dose levels studied. Complete results from Cohort 1, treated with 100 mg twice daily, showed a 55.9% mean reduction in Eczema Area and Severity Index (EASI) scores at 28 days and a 69.1% reduction at 58 days among patients treated with soquelitinib, compared to 27.0% and 19.1% reductions respectively in the placebo group. Initial results from Cohort 2, treated with 200 mg once daily, were consistent with Cohort 1. At 28 days, 75% of soquelitinib patients achieved EASI 50, 25% achieved EASI 75, and 8% achieved EASI 90, with 25% achieving IGA 0 or 1. At 58 days, 90% achieved EASI 50, 40% achieved EASI 75, and 10% achieved EASI 90, with 30% achieving IGA 0 or 1. Additionally, significant reductions in cytokines IL-5, IL-17, IL-31, IL-33, TSLP, and a trend for TARC were observed in patients responding to the treatment. The trial included a high proportion of African American patients. The company also reported the early exercise of common stock warrants by Samlyn Capital, generating approximately $12.7 million in cash proceeds.