Form 4: Corvus Pharmaceuticals Director Peter Thompson Reports Acquisition of Pre-Funded and Common Warrants

Director Peter Thompson reports the acquisition of pre-funded and common warrants for Corvus Pharmaceuticals, indirectly held through OrbiMed Private Investments V, LP.

Summary

• Peter A. Thompson, a director of Corvus Pharmaceuticals, reported the acquisition of pre-funded and common warrants on May 6, 2024.
• The warrants are indirectly held through OrbiMed Private Investments V, LP (OPI V).
• The pre-funded warrants allow the holder to purchase 1,444,085 shares of common stock at an exercise price of $0.0001.
• The common warrants allow the holder to purchase 1,397,684 shares of common stock at an exercise price of $3.50.
• The exercise of these warrants is subject to a blocker provision, limiting ownership to 9.99% of outstanding common stock when combined with OrbiMed Advisors and related parties.
• OrbiMed Capital GP V LLC (GP V) is the general partner of OPI V, and OrbiMed Advisors is the managing member of GP V, potentially granting them voting and investment power over the securities.
• Thompson, OrbiMed Advisors, and GP V disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It reports a transaction but doesn't inherently indicate positive or negative performance for the company.

Risks

• The exercise of the warrants is subject to a blocker provision, which may delay or prevent their full exercise.
• The indirect ownership structure adds complexity to the beneficial ownership of the securities.

Future Outlook

The holder may exercise the Pre-Funded Warrant and Common Warrant at any time and from time to time on or after May 6, 2024, until it has been exercised in full, subject to certain limitations.

Management Comments

• The Reporting Person is a member of Advisors.
• Each of the Reporting Person, OrbiMed Advisors, and GP V disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1943, as amended (the 'Exchange Act'), except to the extent of his or its pecuniary interest therein, if any.
• This report shall not be deemed an admission that any such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The acquisition of warrants could potentially impact shareholders depending on the future exercise of these warrants and their effect on the company's capital structure.

Key Dates