Stock Alert: Corvus Pharma Surges 111%; Study Initiated For COVID-19 Treatment

(RTTNews) - Shares of Corvus Pharmaceuticals, Inc. (CRVS) more than doubled on Tuesday morning after the clinical stage biopharmaceutical company said it commenced a Phase 1 clinical study testing a novel treatment for COVID-19.

CRVS is currently trading at $5.80, up $3.06 or 111.68%, on the Nasdaq.

Corvus announced that it has initiated an early-state study to investigate a novel immunotherapy approach for patients with COVID-19. The study is expected to enroll up to 30 patients at several sites in the United States.

The enrollment follows the FDA's review and acceptance of the company's investigational new drug application for the COVID-19 study. Corvus is studying an agonistic (immunostimulatory) humanized monoclonal antibody, designated as CPI-006, which has demonstrated a potential new approach to immunotherapy of infectious diseases and cancer.