Corvus Pharmaceuticals reported positive Phase I results for soquelitinib, an oral ITK (IL‑2‑inducible T‑cell kinase) inhibitor, prompting a dramatic stock rally as clinicians and investors parsed efficacy and safety signals in atopic dermatitis (AD). Company updates said cohort data showed deepening responses through eight weeks and activity in patients previously treated with systemic agents. Early cohorts demonstrated favorable tolerability alongside clinically meaningful skin‑clearance metrics versus placebo in the small randomized study. Analysts noted the oral ITK approach could compete with injectable biologics such as Dupixent if later trials confirm durable responses and a manageable safety profile. Corvus plans to move the program into mid‑stage testing; the readout underscores how event‑driven early‑phase data continue to reprice small‑cap immunology names.