SEC Form 4 

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |

1. Name and Address of Reporting Person^*
ORBIMED ADVISORS LLC

(Last) | (First) | (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street) 
NEW YORK | NY | 10022

(City) | (State) | (Zip)

2. Issuer Name and Ticker or Trading Symbol 
Corvus Pharmaceuticals, Inc. [ CRVS ]

5. Relationship of Reporting Person(s) to Issuer 
(Check all applicable) 
X | Director | | 10% Owner
| Officer (give title below) | | Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line) 
| Form filed by One Reporting Person
X | Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4)
| | | Code | V | Amount | (A) or (D) | Price | | |
Common Stock, $0.0001 par value | 05/18/2016 | | P | | 4,200 | A | $11.55^(1) | 5,262,650 | I | See Footnotes^(3)(4)
Common Stock, $0.0001 par value | 05/19/2016 | | P | | 2,539 | A | $12.11^(2) | 5,265,189 | I | See Footnotes^(3)(4)
Common Stock, $0.0001 par value | 05/19/2016 | | P | | 61 | A | $12.75 | 5,265,250 | I | See Footnotes^(3)(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4)
| | | | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | | | |

1. Name and Address of Reporting Person^*
ORBIMED ADVISORS LLC

(Last) | (First) | (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street) 
NEW YORK | NY | 10022

(City) | (State) | (Zip)

1. Name and Address of Reporting Person^*
OrbiMed Capital GP V LLC

(Last) | (First) | (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street) 
NEW YORK | NY | 10022

(City) | (State) | (Zip)

1. Name and Address of Reporting Person^*
ISALY SAMUEL D

(Last) | (First) | (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street) 
NEW YORK | NY | 10022

(City) | (State) | (Zip)

Explanation of Responses:
1. The price reported in Column 4 is a weighted average price. These shares of the Issuer's common stock ("Shares") were purchased in multiple transactions at prices ranging from $11.17 to $11.83 inclusive. Upon request, the Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Securities and Exchange Commission full information regarding the Shares purchased at each separate price within the range set forth in this footnote.
2. The price reported in Column 4 is a weighted average price. These Shares were purchased in multiple transactions at prices ranging from $11.52 to $12.30 inclusive. Upon request, the Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Securities and Exchange Commission full information regarding the Shares purchased at each separate price within the range set forth in this footnote.
3. These securities are held of record by OrbiMed Private Investments V, LP ("OPI V"). OrbiMed Capital GP V LLC ("GP V") is the sole general partner of OPI V, and OrbiMed Advisors LLC ("Advisors"), a registered adviser under the Investment Advisors Act of 1940, as amended, is the sole managing member of GP V. Samuel D. Isaly ("Isaly"), a natural person, is the managing member of, and holder of a controlling interest in, Advisors. By virtue of such relationships, GP V, Advisors and Isaly may be deemed to have voting and investment power with respect to the securities held by OPI V noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
4. This report on Form 4 is jointly filed by GP V, Advisors, and Isaly. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. The Reporting Persons have designated a representative, currently Peter A. Thompson, an employee of Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.
| /s/ Samuel D. Isaly | 05/20/2016
| ** Signature of Reporting Person | Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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