Corvus Pharmaceuticals, Inc.

Thank you. . . . . . . . . . . . . Thank you. Good afternoon everyone and thank you for standing by. Welcome to the Corvus Pharmaceuticals Second Quarter 2026 Business Update and Financial Results Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. It is now my pleasure to turn the call over to Zach Kubo of Real Chemistry. Please go ahead, sir.

Thank you, Operator, and good afternoon, everyone. Thanks for joining us for the Corvus Pharmaceuticals Second Quarter 2026 Business Update and Financial Results Conference Call. On the call to discuss the results and business updates are Richard Miller, Chief Executive Officer, Leiv Lea, Chief Financial Officer, Jeff Arcara, Chief Business Officer, and Ben Jones, Senior Vice President of Pharmaceutical Development. The executive team will open the call with some prepared remarks followed by a question and answer period. I would like to remind everyone that comments made by management today and answers to questions will include forward-looking statements. Forward-looking statements are based on estimates and assumptions as of today and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied by those statements, including the risks and uncertainties described in Corvus' annual quarterly report on Form 10-Q, where the quarter ended June 30, 2026, and other filings the company makes with the SEC from time to time. The company undertakes no obligation to publicly update or revise any forward-looking statements except as required by law. With that, I'd like to turn the call over to Leif Lea. Leif?

Thank you, Zach. I will begin with a brief overview of our second quarter 2026 financials and then turn the call over to Richard for a business update. Research and development expenses in the second quarter of 2026 totaled $16 million compared to $7.9 million for the same period in 2025. The increase in R&D expenses was primarily due to higher clinical trial costs associated with the development of socalitinib as well as an increase in personnel costs. Net loss for the second quarter of 2026 was $18 million compared to a net loss of $8 million for the same period in 2025. Included in the net loss for the second quarter of 2026 and 2025 were non-cash losses of $0.7 million and $0.4 million, respectively, from Corvus' equity method investment in Angel Pharmaceuticals and a non-cash gain of $2 million in the second quarter of 2025 associated with a change in fair value of the company's warrant liability. Total stock compensation expense for the three months ended June 30, 2026. was $2.6 million compared to $1.3 million for the same period in 2025. As of June 30, 2026, Corvus had cash, cash equivalents, and marketable securities totaling $215.2 million as compared to $56.8 million at December 31, 2025. Cash, as of June 30, 2026, included approximately $189.4 million in net proceeds received in a follow-on offering completed in Q1. Also, as announced on June 9th, 2026, Corvus invested $5 million in a $13.5 million financing completed by Angel Pharmaceuticals in the second quarter of 2026. Based on our cash position at June 30th, 2026 and our current plans, we expect our cash to fund operations into the second quarter of 2028. I will now turn the call over to Richard, who will discuss our clinical progress and elaborate on our strategy and plans.