Corbus Pharmaceu Stock Price, News & Analysis

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) provided updates and financial results for Q3 2021. The company is progressing its anti-integrin mAb program targeting solid tumors, with first patient dosing expected in H1 2023. Lenabasum's Phase 2 study data is anticipated in Q4 2021. Revenue decreased to approximately $97,000 from $1.23 million in 2020, while operating expenses fell to $14 million from $35.2 million due to reduced clinical costs. Corbus reported a net loss of $2.2 million, down significantly from $34.9 million year-over-year. The company holds $108 million in cash, funding operations into Q1 2024.

Corbus Pharmaceuticals Holdings, a leader in immunology, will have its CEO, Yuval Cohen, participate in a fireside chat at the Jefferies London Healthcare Conference from November 16-19, 2021. This event will be both virtual and in-person, giving attendees the opportunity to engage directly.

An audio webcast of the chat will be available on-demand starting November 18, at 8:00 AM GMT for registered attendees. The presentation aims to advance discussions on Corbus's innovative treatments targeting inflammation and fibrosis.

Corbus Pharmaceuticals Holdings (CRBP) reported its Q2 2021 results, noting that the primary endpoint in the Phase 3 DETERMINE study of lenabasum in dermatomyositis was not met, but activity was observed in other areas. The company plans to engage with the FDA to discuss the next steps. CRBP has $114 million in cash, projected to last into Q1 2024. Revenue from awards and licenses decreased to $137,000, while operating expenses fell to $16.8 million, resulting in a net loss of $17.1 million, an improvement from $38.1 million in Q2 2020.

Corbus Pharmaceuticals (NASDAQ: CRBP) announced the topline results of its Phase 3 DETERMINE study on lenabasum for treating dermatomyositis. The study failed to meet its primary endpoint of Total Improvement Score (TIS) at Week 28, with lenabasum achieving a mean TIS of 28.3 versus 26.7 in the control group (p = 0.1965). However, nominally significant improvements were noted in subtypes of the disease. Lenabasum was found to be safe and well-tolerated. The findings will be discussed with regulatory authorities as the company looks to explore next steps.

Corbus Pharmaceuticals (NASDAQ: CRBP) announced today the expansion of its pipeline with two new monoclonal antibodies (mAbs), CRB-601 and CRB-602, aimed at inhibiting TGFβ activation. These mAbs, licensed from UCSF and Panorama Research, target integrins associated with fibrotic diseases and certain cancers. Both are expected to enter Phase 1 testing in 2022. With $125 million in cash, Corbus plans to advance up to four programs into clinical development. The total upfront payment for the licensing deals is $2 million, with potential milestone payments reaching $206 million.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced the publication of two abstracts at the EULAR 2021 Virtual Congress, taking place from June 2-5, 2021. The presentations highlight the Phase 3 Trial of lenabasum for treating Diffuse Cutaneous Systemic Sclerosis and a poster on long-term safety and efficacy of lenabasum in Dermatomyositis. Lenabasum is designed to activate the cannabinoid receptor type 2 to address inflammatory and fibrotic diseases. The abstracts will be available post embargo on the Company’s website.

Corbus Pharmaceuticals (CRBP) announced the adjournment of its 2021 Annual Meeting to allow stockholders more time to vote on proposals, particularly Proposal 4, which seeks to double the authorized common stock from 150 million to 300 million shares. Currently, about 85% of votes cast support this proposal, but it requires a majority of outstanding shares for approval. The meeting will reconvene on June 17, 2021, at 9:00 a.m. ET. Corbus focuses on innovative medicines targeting the endocannabinoid system, with its lead candidate, lenabasum, currently being evaluated for chronic inflammatory diseases.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) reported its Q1 2021 financial results, highlighting a revenue drop to approximately $648,000 from $1.8 million in Q1 2020. Operating expenses decreased by $15.5 million to about $16.1 million, primarily due to reduced clinical trial and manufacturing costs. The net loss narrowed to approximately $16.1 million or $0.14 per share, down from $29.7 million or $0.43 per share a year earlier. The company maintains a strong financial position with $125 million in cash, expected to support operations into Q1 2024. Topline data for the Phase 3 study of lenabasum in dermatomyositis is anticipated in Q2 2021.

Corbus Pharmaceuticals (NASDAQ: CRBP) announced CEO Yuval Cohen, Ph.D., will present at three upcoming virtual investor conferences. The events include the RBC Capital Markets Global Healthcare Conference on May 18, Oppenheimer Rare & Orphan Disease Summit on May 21, and the Jefferies Virtual Global Healthcare Conference on June 1. Each presentation will feature a fireside chat followed by a Q&A session. An audio webcast will be available on their website, with replays lasting 90 days. Corbus focuses on developing medicines that target the endocannabinoid system, with its lead candidate being lenabasum.