Shares of Corvus Pharmaceuticals (CRVS) plunged 5.63% in early trading on Wednesday, as investors reacted to the company's disappointing third-quarter financial results. The significant drop comes after the biopharmaceutical firm reported a net loss for the quarter, raising concerns about its financial health and future prospects.

The downward trend began in pre-market trading, with the stock already down 3.1% before the opening bell. As the regular trading session commenced, selling pressure intensified, pushing the stock further down to its current 5.63% decline. This sharp fall reflects growing investor unease about Corvus Pharmaceuticals' performance and its ability to bring promising drug candidates to market.

While specific details of the Q3 results were not provided in the available news, the market's reaction suggests that the reported net loss may have been larger than expected or accompanied by other concerning factors. Investors in the biotechnology sector often closely monitor financial results and clinical trial progress, as these can significantly impact a company's valuation and future funding capabilities. The substantial stock price decline indicates that shareholders may be reassessing their positions in light of this latest financial update from Corvus Pharmaceuticals.