Corbus Pharmaceu Stock Price, News & Analysis

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) will report its third quarter financial results on November 10 at 8:30 a.m. ET. Company CEO Yuval Cohen will lead a conference call and live webcast to discuss the results. Interested participants can join the call by dialing (877) 407-3978 domestically or (412) 902-0039 internationally. The live webcast will also be available on the company’s Investors page and archived for 90 days.

Corbus Pharmaceuticals (CRBP) announced preliminary data from its Phase 2b study on lenabasum for cystic fibrosis at the NACFC. The drug did not meet its primary efficacy endpoint, showing a PEx rate of 0.90 in the 20 mg group. However, lenabasum was well tolerated with no new safety concerns. Exploratory analyses indicated an 85% lower PEx rate among placebo subjects from five Eastern European countries. Discussions will continue with CF experts for further data analyses.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) presented three abstracts at the ACR Convergence 2020 focusing on their lead drug, lenabasum, for treating dermatomyositis and systemic sclerosis. Key findings include:

• Increased cannabinoid receptor type 2 expression in affected skin
• Lenabasum's ability to reduce CD8+ T cell expression of interferon γ
• Positive outcomes for COVID-19 infected patients on lenabasum

The full abstracts will be publicly available after November 5, 2020.

Corbus Pharmaceuticals Holdings (NASDAQ: CRBP) announced a significant restructuring aimed at reallocating resources to bolster its clinical programs. The company plans to reduce its workforce by 54% and focus on its Phase 3 study for lenabasum in dermatomyositis and systemic lupus erythematosus. As of September 30, 2020, Corbus had approximately $83 million in cash equivalents. This restructuring is designed to extend the company's cash runway into mid-2022 while prioritizing its most promising drug candidates.

Corbus Pharmaceuticals (NASDAQ: CRBP) announced that its Phase 2b trial of lenabasum in cystic fibrosis did not meet its primary endpoint of reducing pulmonary exacerbations. Conducted over 28 weeks, the study involved subjects from the U.S., Canada, and Europe, comparing lenabasum to a placebo. Despite the disappointing results, lenabasum exhibited a favorable safety profile.

Topline data will be presented at the upcoming North American Cystic Fibrosis Conference from October 7-23, 2020, where further details will be disclosed.

Corbus Pharmaceuticals (NASDAQ: CRBP) announced topline results from the Phase 3 RESOLVE-1 study of lenabasum for diffuse cutaneous systemic sclerosis. The study showed no significant differences in primary and secondary endpoints compared to placebo, with both treatment groups achieving a median ACR CRISS score of approximately 0.887. Safety assessments indicated that lenabasum was well tolerated, with no new safety signals. The company plans further data analysis and continues to pursue clinical trials for lenabasum in other diseases such as cystic fibrosis.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced its second quarter financial results and provided updates on its clinical studies. The company reported a net loss of $38.1 million, down from a net income of $2.2 million in the same quarter last year, primarily due to a lack of significant licensing revenue. Revenue fell to $0.3 million, a decrease of $28.8 million. Corbus strengthened its balance sheet with $121 million in new capital, including a $71 million ATM offering and a $50 million debt facility. Topline results for its RESOLVE-1 Phase 3 study of lenabasum for systemic sclerosis are expected this summer.

Corbus Pharmaceuticals (NASDAQ: CRBP) announced the successful completion of subject enrollment in its Phase 3 clinical trial, DETERMINE, evaluating lenabasum for treating dermatomyositis. The study enrolled 176 participants, making it the largest randomized, double-blind, placebo-controlled study for this condition. Topline results are anticipated in the fourth quarter of 2021. Lenabasum has received Orphan Drug Designation from the FDA and EMA, indicating significant unmet medical need in treating this rare autoimmune disease.

Corbus Pharmaceuticals (NASDAQ: CRBP) announced that CEO Yuval Cohen, Ph.D., will present at two key conferences this month. The events include the BTIG Virtual Biotechnology Conference on August 10, 2020, at 10:00 AM ET and the Canaccord Genuity 40th Annual Growth Conference on August 13, 2020, at 3:00 PM ET. Webcast access will be available on the company's website post-event. Corbus is in the Phase 3 stage of developing lenabasum for treating inflammatory diseases and has an upcoming safety study for CRB-4001, targeting nonalcoholic steatohepatitis.