BURLINGAME, Calif., March 08, 2018 (GLOBE NEWSWIRE) — Corvus Pharmaceuticals, Inc. (Nasdaq:CRVS), a clinical-stage biopharmaceutical company focused on the development and commercialization of small molecule and antibody agents that precisely target crucial enzymes and proteins in the immune system to treat patients with cancer, today announced the pricing of an underwritten public offering of 7,058,824 shares of its common stock at a price to the public of $8.50 per share, for gross proceeds of $60.0 million before deducting estimated underwriting discounts and commissions and estimated offering expenses payable by Corvus. All of the shares are being offered by Corvus. In addition, Corvus has granted the underwriters of the offering a 30-day option to purchase up to an additional 1,058,824 shares of common stock at the public offering price, less underwriting discounts and commissions.

Corvus currently expects to use the net proceeds from this offering to fund its ongoing clinical development of CPI-444, initiate a Phase 1/1b clinical trial of CPI-006, research and development of its ITK program, and any remaining proceeds for working capital and general corporate purposes, including research and development of its additional product candidates.

The offering is expected to close on or about March 12, 2018, subject to satisfaction of customary closing conditions.

Credit Suisse and Jefferies are acting as joint bookrunning managers for the offering. Guggenheim Securities is acting as lead manager and Wedbush PacGrow is acting as co-manager.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission on June 9, 2017. The offering of these securities is being made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from: Credit Suisse Securities (USA) LLC, Attn: Prospectus Dept., One Madison Avenue, New York, NY 10010, by telephone at 800-221-1037 or by email at [email protected]; or Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at [email protected]