Form 4: OrbiMed Affiliate Exercises Warrants in Corvus Pharmaceuticals, Increasing Beneficial Ownership

An entity affiliated with Peter A. Thompson, a Director and 10% owner of Corvus Pharmaceuticals, exercised common warrants, resulting in a net increase of 221,352 shares in beneficial ownership.

Summary

• On June 27, 2025, OrbiMed Private Investments V, LP (OPI V), an entity affiliated with Peter A. Thompson, a Director and 10% owner of Corvus Pharmaceuticals, Inc., exercised common warrants to purchase 1,397,684 shares of the Issuer's Common Stock.
• The warrants were exercised at a price of $3.50 per share.
• OPI V paid the exercise price on a cashless basis, which involved the Issuer withholding 1,176,332 of the warrant shares to cover the exercise price.
• The shares withheld were valued at $4.1586 per share.
• As a result of the cashless exercise, OPI V received a net of 221,352 shares (1,397,684 shares acquired minus 1,176,332 shares withheld).
• Following these transactions, the total beneficial ownership of Common Stock by OPI V stands at 7,165,006 shares.
• Peter A. Thompson, as a member of OrbiMed Advisors LLC (the managing member of OrbiMed Capital GP V LLC, which is the general partner of OPI V), is deemed to have indirect beneficial ownership of these securities.

Sentiment

Score: 7

Explanation: The exercise of warrants by a significant shareholder and director, resulting in a net increase in beneficial ownership, generally signals continued confidence in the company's prospects, despite the cashless exercise mechanism.

Positives

• The exercise of warrants by a significant shareholder and director (OrbiMed Private Investments V, LP, affiliated with Peter A. Thompson) indicates continued investment and potential confidence in Corvus Pharmaceuticals.
• The transaction resulted in a net increase of 221,352 shares in the beneficial ownership of a key insider group, signaling a positive long-term outlook from a major investor.

Negatives

• A significant portion of the shares (1,176,332 shares) were withheld by the Issuer to cover the exercise price through a cashless transaction, reducing the immediate net share gain for the warrant holder.

Future Outlook

The document, a Form 4, reports a completed insider transaction and does not provide forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This Form 4 filing reflects a routine insider transaction within the biotechnology or pharmaceutical industry, where warrant exercises by significant investors are common. It does not provide broader industry trends or competitive analysis.

Related Party Transactions

• The transaction involves Peter A. Thompson, a Director and 10% owner of Corvus Pharmaceuticals, Inc., through his affiliation with OrbiMed Private Investments V, LP, making it a related party transaction.

Stakeholder Impact

• Shareholders may view the net increase in beneficial ownership by a significant insider as a positive signal, potentially indicating confidence in the company's future performance.

Key Dates

Recommendation

Keywords

Corvus Pharmaceuticals, CRVS, SEC Form 4, Insider Transaction, Beneficial Ownership, Warrant Exercise, OrbiMed, Peter A. Thompson, Equity, Stock, Cashless Exercise