initial public offerings (IPOs) trading on American exchanges

Wednesday, March 23, 2016

Corvus Pharmaceuticals (CRVS) began trading on the Nasdaq on 23 March 2016

Today's IPO for Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS) opened for trading at $15 after pricing its initial public offering of 4,700,000 shares of its common stock at an initial public offering price of $15 per share, the low end of the expected $15-$17 range. 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 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.

Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development and commercialization of small molecule and antibody agents that target the immune system to treat patients with cancer. These agents block or modify crucial immune checkpoints and reprogram immune T cells.

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