Corvus Announces Pricing of Initial Public Offering

BURLINGAME, Calif., March 22, 2016 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS), a clinical stage biopharmaceutical company focused on the development and commercialization of novel immuno-oncology therapies, today announced the pricing of its initial public offering of 4,700,000 shares of its common stock at an initial public offering price of $15.00 per share. In addition, the underwriters have a 30-day option to purchase up to an additional 705,000 shares of common stock at the initial public offering  price, before underwriting discounts and commissions. The shares are expected to begin trading on The NASDAQ Global Market on March 23, 2016 under the ticker symbol "CRVS."

The offering is expected to close on March 29, 2016, subject to the satisfaction of customary closing conditions.

Credit Suisse Securities (USA) and Cowen and Company are acting as joint book-running managers for the offering. Guggenheim Securities is serving as lead manager, and Cantor Fitzgerald & Co. and BTIG are serving as co-managers for the offering.

A registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission on March 22, 2016. This offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to this offering may be obtained by contacting: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by telephone at (800) 221-1037, or by email at [email protected]; or Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (631) 274-2806 or by fax at (631) 254-7140.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.

Media Contacts:
Julie Normart, W2O Group
415-946-1087
[email protected]

Investor Contacts:
Leiv Lea
Chief Financial Officer
[email protected]
650-900-4522

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