Related Party Transaction

12 Months Ended

Dec. 31, 2019

13. Related Party Transactions

In 2017, the Company purchased $461,000 of research services from a vendor during the normal course of business, where a Corvus director is also a member of the vendor's board of directors.

In March 2018, the Company completed a follow-on public offering in which the Company sold 8,117,647 shares of common stock at a price of $8.50 per share, which included 1,058,823 shares issued pursuant to the underwriters’ exercise of their option to purchase additional shares of common stock. The aggregate net proceeds received by the Company from the offering were approximately $64.9 million, net of underwriting discounts and commissions and offering expenses payable by the Company.

The following aggregate number of shares of common stock were sold to our owners of more than 5% of our common stock, directors, or executive officers during the March 2018 underwritten public offering:


	March 2018 Public Offering
	Number of		Aggregate
		Shares of	Purchase
	Common Stock		Price
Owners of More Than 5% of Our Common Stock
FMR LLC		1,176,470	$	9,999,995
OrbiMed Advisors LLC (1)		588,235		4,999,998
Novo Holdings A/S (2)		1,176,470		9,999,995
Adams Street Partners (3)		588,235		4,999,998
Board of Directors
Richard A. Miller, M.D.		100,000		850,000

(1)

Peter Thompson, M.D., a member of our Board of Directors since November 2014, is a Private Equity Partner at OrbiMed Advisors, LLC.

(2)

Peter Moldt, Ph.D., a Partner at Novo Ventures (US) Inc., which provide certain consultancy services to Novo Holdings A/S, served as a member of our Board of Directors from January 2015 to January 2019.

(3)

Elisha P. (Terry) Gould III, a member of our Board of Directors since November 2014, is a Partner at Adams Street Partners, LLC.