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# Corvus Sets March 2027 For Angel's Atopic Dermatitis Data, Citing A Blinding Window
- URL: https://www.bullished.co/corvus-sets-march-2027-for-angels-atopic-dermatitis-data-citing-a-blinding-window-f2c0c33f/
- Published: 2026-11-06T07:52:24.000Z
- Updated: 2026-11-06T07:52:24.000Z
- Description: CEO Richard Miller says the wait keeps everyone blinded, and cash of $202.9 million should last into the second quarter of 2028.
- Author: Matteo Parrino
- Tags: Earnings, CRVS, Industry: Healthcare

Corvus Pharmaceuticals, a clinical-stage drug developer, expects preliminary data from partner Angel Pharmaceuticals' atopic dermatitis trial in China in [March 2027](https://www.benzinga.com/news/26/11/62957973/corvus-pharma-q3-2026-earnings-call-transcript?ref=bullished.co), CEO Richard Miller said on the company's third-quarter earnings call Thursday. A Cantor Fitzgerald analyst asked why the date had slipped by a quarter.

## Why the date moved

Miller tied the timing to blinding. Every patient must finish 12 weeks of therapy plus at least 30 days of follow-up before any data is released, and he said the company, patients and doctors stay blinded throughout. "we wanted to have the full 12 weeks of therapy with a 30 days of follow up, and we [remain blinded](https://www.benzinga.com/news/26/11/62957973/corvus-pharma-q3-2026-earnings-call-transcript?ref=bullished.co) during that period of time," he said.

He separately said the trial is "going as planned," pointing to careful patient selection and photographs documenting disease in every patient. Cohort one [enrolled 24 patients](https://www.benzinga.com/news/26/11/62957973/corvus-pharma-q3-2026-earnings-call-transcript?ref=bullished.co), split evenly among two soquelitinib doses and placebo.

Miller also said the blinded baseline traits of Angel's patients resemble those in Corvus's 72-patient Phase 1 trial. Asian American patients there, 8 of 72, had significantly elevated serum IL-17 at baseline compared with non-Asian patients.

## Cash and the pipeline

CFO Leif Lee said Corvus held [$202.9 million](https://seekingalpha.com/news/4667231-corvus-pharmaceuticals-gaap-eps-of-0%5F22-misses-by-0%5F02?ref=bullished.co) in cash, equivalents and marketable securities at September 30, versus $56.8 million at December 31, 2025\. That includes about $189.4 million in net proceeds from a follow-on offering, and Lee said the money should fund operations into the second quarter of 2028.

Third-quarter research spending rose to $17.8 million from $8.5 million a year earlier, on higher clinical trial costs for soquelitinib and personnel. The net loss widened to $20.3 million from $10.2 million.

Soquelitinib, the company's lead candidate, is in a registrational Phase 3 trial for relapsed peripheral T-cell lymphoma and in the Phase 2 Sierra 1 atopic dermatitis trial, which plans to enroll about 200 patients. Miller said Sierra 1 topline data is expected in the third quarter of 2027.

## The 2027 calendar

Angel expects to start cohort two this month, with data possibly in the second half of 2027\. Corvus said a Phase 3 interim futility analysis for the lymphoma trial is due in the first quarter of 2027; it will announce only whether the independent committee continues or stops the trial.

Miller also cited Hidradenitis suppurativa Phase 1b results possible in the first half of 2027 and an asthma trial starting in the first quarter. Phase 3 lymphoma topline data is targeted before the end of 2027.

Initial data from a three-patient study in a rare immune disorder called ALPS is due at the American Society of Hematology meeting in December.

Learn

- [How To Read An Earnings Call Transcript: Start With Guidance, Then Find What's Missing →](https://www.bullished.co/learn/how-to-read-an-earnings-call/)  
How to read an earnings call transcript: check guidance first, look for dropped metrics, compare growth with last quarter, and watch hedged wording.

### Sources

- [Corvus Pharma Q3 2026 Earnings Call Transcript](https://www.benzinga.com/news/26/11/62957973/corvus-pharma-q3-2026-earnings-call-transcript?ref=bullished.co) — benzinga.com
- [Corvus Pharmaceuticals GAAP EPS of -$0.22 misses by $0.02 (CRVS:NASDAQ)](https://seekingalpha.com/news/4667231-corvus-pharmaceuticals-gaap-eps-of-0%5F22-misses-by-0%5F02?ref=bullished.co) — seekingalpha.com
- [Corvus: Q3 Earnings Snapshot – WTOP News](https://wtop.com/national/2026/11/corvus-q3-earnings-snapshot/?ref=bullished.co) — wtop.com
- [Corvus: Q3 Earnings Snapshot](https://www.seattlepi.com/business/corvus-q3-earnings-snapshot-a22515016?ref=bullished.co) — seattlepi.com
- [Corvus: Q3 Earnings Snapshot | wusa9.com](https://www.wusa9.com/article/syndication/associatedpress/corvus-q3-earnings-snapshot/616-66654b8a-7789-4db3-aaea-6a519f1181de?ref=bullished.co) — Associated Press