Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Q4 2023 Earnings Conference Call March 19, 2024 4:30 PM ET
Company Participants
Zack Kubow - Real Chemistry
Leiv Lea - CFO
Richard Miller - CEO
Jeff Arcara - CBO
Conference Call Participants
Jeff Jones - Oppenheimer
Liang Cheng - Jefferies
Rosemary Li - Cantor Fitzgerald
Operator
Good afternoon everyone. Thank you for standing by and welcome to the Corvus Pharmaceuticals' Fourth Quarter and Full Year 2023 Business Update and Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at time.
It is now my pleasure to turn the call over to Zack Kubow of Real Chemistry. Please go ahead, sir.
Zack Kubow
Thank you, operator and good afternoon everyone. Thank you for joining us for the Corvus Pharmaceuticals' fourth quarter and full year 2023 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 Regulatory and Pharmaceutical Sciences. 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 report on Form 10-K, which was filed today with the SEC 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 Leiv. Leiv?
Leiv Lea
Thank you, Zack. I will begin with a quick overview of our fourth quarter and full year 2023 financials and then turn the call over to Richard for a business update. Research and development expenses in the fourth quarter of 2023 totaled $4 million compared to $4.1 million for the same period in 2022. R&D expenses for the full year 2023 totaled $16.5 million compared to $24.5 million for the full year 2022.
The net loss for the fourth quarter of 2023 was $6.7 million, including a $1.4 million non-cash loss related to Angel Pharmaceuticals, our partner in China. This compares to a net loss of $9.8 million for the same period in 2022, which included a $4.6 million non-cash loss related to Angel Pharmaceuticals.