CRVS - Corvus shares slide after pricing 8.57M public offering

Corvus Pharmaceuticals (CRVS) prices its underwritten public offering of 8.57M shares at $3.50/share, with gross proceeds expected to be $30M.The company has granted underwriters a 30-day option to purchase up to an additional 1.3M shares. The offering is expected to close on or about February 17, 2021.Corvus said it currently expects to use net proceeds to fund its Phase 3 clinical trial of its lead drug candidate CPI-006 and development of its other products, among other things.Cantor Fitzgerald and H.C. Wainwright are acting as joint book-running managers for the offering.Shares down nearly 10% premarket.

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Corvus shares slide after pricing 8.57M public offering