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Investing.com — Shares of Corvus Pharmaceuticals, Inc. (NASDAQ: NASDAQ:) initially fell as much as 18%, but then made a notable turnaround and rose 7% following interim results from its Phase 1 trial of soquelitinib for the treatment of moderate diseases. to severe atopic dermatitis. The clinical-stage biopharmaceutical company released data indicating a favorable safety and efficacy profile, suggesting the drug’s potential not only for this chronic skin condition but also for other immune-mediated diseases.
The trial, designed as randomized, double-blind and placebo-controlled, aims to enroll 64 patients who have not seen results from previous therapies. Divided into four dosing cohorts, the primary objectives of the study are to evaluate safety, tolerability, and efficacy through clinical and biomarker assessments.
Results from the first cohort of 16 patients revealed a significant drop in Eczema Area and Severity Index (EASI) scores for those treated with soquelitinib compared to the placebo group. At 28 days, the soquelitinib group experienced a mean reduction in EASI score of 55.9%, which further improved to 69.1% at 58 days. The placebo group, in comparison, showed a mean reduction of 27.0% at 28 days, which decreased to 19.1% at 58 days. In particular, improvements were seen in the soquelitinib group as early as eight days into the trial.
Safety data from the same cohort indicated no significant problems, and all patients completed the 28-day dosing schedule. Only mild side effects such as nausea and a COVID-19 infection were reported, neither of which required changes to the treatment regimen.
The company also found a possible link between clinical response and reductions in serum cytokine levels, supporting the drug’s proposed mechanism of action through ITK inhibition, which is believed to help regulate immune responses. Early data from a second cohort receiving a higher dose of soquelitinib also showed positive results, with no significant laboratory abnormalities or treatment-related adverse events.
In a strategic financial move, Corvus announced that Samlyn Capital exercised common stock warrants early, providing the company with approximately $12.7 million in cash proceeds.
Corvus will host a conference call and webcast today to further discuss the Phase 1 clinical data of soquelitinib in atopic dermatitis. This report is based on information in a press release from Corvus Pharmaceuticals.
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