Slide 1: Corvus Corporate Presentation
Corvus Corporate Presentation August 2026 The Power to Control Immunity
Slide 2: Forward-Looking Statements / Safe Harbor
Forward-Looking Statements / Safe Harbor This presentation contains forward-looking statements, including statements related to soquelitinib’s potential to provide prolonged drug-free remissions and shorter treatment regimens; the potential safety and efficacy of the Company’s product candidates; th
Slide 3: First-in-Class Immune Modulators with Broad Opportunity in Immune Disease
First-in-Class Immune Modulators with Broad Opportunity in Immune Disease Highly selective ITK inhibition; blocks multiple cytokines and rebalances Novel MOA immune response Oral Administration Oral dosing in markets dominated by injectables Safety/efficacy seen in placebo-controlled Phase 1 AD; enr
Slide 4: Soquelitinib Blocks Th2 and Th17
Soquelitinib Blocks Th2 and Th17 Modulation of T cell differentiation ITK blockade leads to reduction in Th2, Th17 ITK involved in T cell differentiation and cytokines T H1 Th1 cells play a role in cancer T H1 Th1 cells play a role in cancer T-bet T-bet cell and viral elimination cell and viral elim
Slide 5: ITK Regulates Switch from Th17 to Tregs
ITK Regulates Switch from Th17 to Tregs Rebalancing immunity leads to durable responses ITK involved in T cell differentiation ITK blockade leads to switch to Treg T H1 Th1 cells play a role in cancer T H1 T-bet T-bet cell and viral elimination APC APC IL-4 IL-4 Naïve T H2 IL-5 Naïve T H2 IL-5 ITK I
Slide 6: Soquelitinib Effects Multiple Inflammatory Pathways
Soquelitinib Effects Multiple Inflammatory Pathways Comparison to other agents Th2 Th17 ILC2 Treg IL-4 IL-5 IL-13 IL-31 IL-17 IL-21 IL-22 SOQUELITINIB DUPIXENT® EBGLYSS NEMLUVIO® RINVOQ® SOQUELITINIB Inhibits cells responsible for Restores immune balance production and control of by enhancing T regs
Slide 7: Soquelitinib Development Pipeline
Soquelitinib Development Pipeline BIOLOGY INDICATION STATUS PHASE 1 PHASE 2 PHASE 3 MARKETED ONCOLOGY Phase 3 Enrolling Orphan Drug and Heme T-cell Peripheral T Fast Track Malignancy Cell Lymphoma Futility Analysis: Q1 2027 Designations Atopic SIERRA1 Ph 2 Enrolling Derm Th2 Dermatitis Data: Q3 2027
Slide 8: Soquelitinib Broad Opportunities in Multiple Immune Diseases
Soquelitinib Broad Opportunities in Multiple Immune Diseases IL-17 Driven Fibrotic / Other Th2 Driven Diseases IL-5 Driven Diseases Diseases Inflammatory Diseases Atopic dermatitis Psoriasis Eosinophilic Systemic sclerosis Granulomatosis Asthma Psoriatic arthritis Pulmonary fibrosis Polyangiitis Eos
Slide 9: Large and Growing I&I Market w/ Unmet Need for Orals
Large and Growing I&I Market w/ Unmet Need for Orals Only 4% of current $110B market attributed to orals 130 Million I&I Patients1 $170B I&I Market Projected2 30M20M Eligible for Advanced Treatments 60M Significant opportunity for orals3 30M 23M 15M 2.5M1.2M .25M .2M SS HS IPF IBD Psor COPD AD Asthm
Slide 10: Atopic Dermatitis Placebo Control Phase 1 Design
Atopic Dermatitis Placebo Control Phase 1 Design Soquelitinib 100 mg BID Cohort 1 Randomized N = 12 Study Design 3:1 4 weeks N =16 Placebo • Endpoints: treatment N=4 • Primary: safety Soquelitinib 200 mg QD • Secondary: % change in EASI, EASI75, Randomized N = 12 EASI90, IGA 0 or 1 Cohort 2 3:1 • De
Slide 11: Increasing Efficacy and Deeper Response with Continued Dosing
Increasing Efficacy and Deeper Response with Continued Dosing (8 week dosing vs 4 week dosing) Soquelitinib vs. Placebo Endpoints (EASI 75, EASI 90, IGA 0 or 1) 4 weeks 8 weeks 80 75 70 60 50 50 % Patients 40 33 33 30 25 25 25 25 20 20 17 10 8 8 0 0 0 0 0 0 0 PBO Cohorts 1-3 SQL Cohort 1 (n=12) SQL
Slide 12: Efficacy in Patients with Prior Systemic Therapy (Cohorts 1–4)
Efficacy in Patients with Prior Systemic Therapy (Cohorts 1–4) Comparable efficacy in patients with prior systemic therapy All Patients (Cohorts 1–4) Prior Systemic Therapy (Cohorts 1–4) 12
Slide 13: Response in Systemic Treatment Resistant Patients
Response in Systemic Treatment Resistant Patients Cohorts 3 & 4 Study Baseline Age/Gender Prior Treatment Resistant % EASI change Treatment EASI Soquelitinib 60/F Dupixent® 24.6 –91% Soquelitinib 18/M Dupixent®, anti-OX40L 23.8 –96% Dupixent®, Methotrexate, Soquelitinib 52/M 41.5 –27% Rinvoq® Dupixe
Slide 14: Percentage Patients Achieving EASI75 and IGA 0/1
Percentage Patients Achieving EASI75 and IGA 0/1 Responses maintained in drug-free follow up 100% EASI75 – End of Treatment 90% EASI75 – Follow-up IGA 0/1 – End of Treatment 80% IGA 0/1 – Follow-up 70% 60% % Patients 50% 40% 30% 20% 10% 0% W4/End of Treatment 30-Day 60-Day 90-Day W8/End of Treatment
Slide 15: Rebound Following Dupilumab and JAKi
Rebound Following Dupilumab and JAKi Worsening within 4 weeks of stopping therapy Cibinqo (abrocitinib) Dupixent (dupilumab) LS mean percent improvement (± SE) in EASI score from SOLO baseline during SOLO-CONTINUE (MI) JAMA Dermatol. 2019;155(12):1371 JAMA Dermatol. 2020;156(2):131 15
Slide 16: Effects on Th2 Related Immunology
Effects on Th2 Related Immunology ITK TH2 IL-4 Th2 drives AD disease GATA3 IL-5 IL-13 Dose-dependent Reduction Significant reduction in IL-4, IL-5, IL-13 and TARC in Proliferating Th2* Cohort 3 Cohort 4 % change in proliferating Th2 150 200 mg BID for 28 days 200 mg BID for 56 days 20 40 % change fr
Slide 17: Soquelitinib Treatment Leads to Increase in Persistent Tregs
Soquelitinib Treatment Leads to Increase in Persistent Tregs Tregs (CD4+, CD25 hi, Foxp3+) persist beyond treatment Cohort 3 – 200 mg BID Cohort 4 – 200 mg BID Cohort 3+4* – 200 mg BID 0.0737 200 300 200 % change from baseline % change from baseline % change from baseline 150 200 150 28 Days 100 100
Slide 18: Soquelitinib Upregulates SOCS3 and Reduces JAK1 in T helper Cells
Soquelitinib Upregulates SOCS3 and Reduces JAK1 in T helper Cells Modulation of the JAK-STAT Pathway SOCS3 increases in circulating T cells SOCS3 in Th2 SOCS3 in Th1 SOCS3 in Tc17 150 200 p = 0.0614 200 p = 0.2166 p = 0.0452 % change from baseline % change from baseline % change from baseline 150 15
Slide 19: Safety Summary
Safety Summary 4-week 8-week Cohorts 1–3 Cohort 4 Soquelitinib Placebo Soquelitinib Placebo (n=36) (n=12) (n=12) (n=12) Subjects with AEs* 15 (41.7%) 4 (33.3%) 5 (41.7%) 6 (50%) Severe (Grade ≥3) AEs 0 0 0 0 Serious AEs 0 0 0 0 AEs leading to study drug 0 0 0 0 discontinuation *All Grade 1-2 AEs not
Slide 20: Safety Summary
Safety Summary All reported AEs Cohorts 1–3 Cohort 4 SQL (n=36), n (%) PBO (n=12), n (%) SQL (n=12), n (%) PBO (n=12), n (%) Subjects with any TEAE 15 (41.7) 4 (33.3) 5 (41.7) 6 (50) Headache 4 (11.1) 1 (8.3) 4 (33.3) 0 (0) Abdominal pain upper 1 (2.8) 0 (0) 0 (0) 1 (8.3) Nausea 1 (2.8) 1 (8.3) 0 (0
Slide 21: Randomized Double Blind Phase 2 AD Trial—SIERRA1
Randomized Double Blind Phase 2 AD Trial—SIERRA1 Enrolling patients 12 Weeks Treatment with Extended 90 Day Follow-up Eligibility Study Design Endpoints • Moderate to Severe AD • N=200 • Primary: % change in EASI • 1:1:1:1 randomization: from Baseline to W12 • ≥ 18 years of age • Secondary: • Chroni
Slide 22: Angel Pharma Ph1b/2 Clinical Trial of Soquelitinib in AD
Angel Pharma Ph1b/2 Clinical Trial of Soquelitinib in AD Enrolling at major centers in China Phase 1b Phase 2 Randomized 12 weeks treatment 90-day 1:1:1 Follow Up 60-90 patients Soquelitinib 100 mg BID N=8 1:1:1 randomization to dose levels informed by Phase 1b Soquelitinib 200 mg QD Cohort 1 N=8 90
Slide 23: Soquelitinib Clinical Development Focused on Rapid Pathway to Patients with Atopic Dermatitis
Soquelitinib Clinical Development Focused on Rapid Pathway to Patients with Atopic Dermatitis Future Trials Further differentiate and Phase 3 Program lifecycle expansion (future*) • Intermittent dosing Advance into trial with • Disease modification SIERRA1 Phase 2 Trial established pathway to (enrol
Slide 24: Results Show Soquelitinib Could Become a Leading Oral Therapy for Atopic Dermatitis
Results Show Soquelitinib Could Become a Leading Oral Therapy for Atopic Dermatitis Deeper, Positive Active in Biomarkers Durable Clinical Challenging Support ITK Responses Results Patients Novel MOA No Rebound EASI 75: 75% of patients Safety and efficacy in Immune rebalancing: Disease remission for
Slide 25: Randomized Phase 3 Trial in PTCL Enrolling
Randomized Phase 3 Trial in PTCL Enrolling Potential for first fully FDA approved drug for PTCL Eligibility Clinical Trial Endpoints • Relapsed / refractory PTCL 1:1 randomization to • Primary: Progression free survival • PTCL-NOS • Soquelitinib 200 mg po BID • Secondary: • AITL • Standard of care N
Slide 26: Multiple Soquelitinib Value-Driving Milestones
Multiple Soquelitinib Value-Driving Milestones Cash runway into 2Q28 Atopic dermatitis Cohort 4 data January 2026 Atopic dermatitis SIERRA1 Phase 2 trial initiation Q1 2026 Atopic dermatitis Phase 1 data presentations (oral) SID 2026 Hidradenitis suppurativa Phase 1b trial initiation September 2026