Corbus Pharmaceu SEC Filings

Corbus Pharmaceuticals Holdings, Inc. insiders affiliated with Cormorant Asset Management reported selling 30,029 shares of common stock on 12/11/2025. The sale was coded as a disposition and executed in a series of open-market transactions at a weighted average price of $11.456 per share, with individual trade prices ranging from $11.20 to $12.15.

Following this transaction, the reporting persons indirectly beneficially owned 2,344,971 Corbus Pharmaceuticals shares. The filing states that all shares sold were held by Cormorant Global Healthcare Master Fund, LP and that each reporting person disclaims beneficial ownership beyond its or her pecuniary interest.

Corbus Pharmaceuticals (CRBP) reported Q3 2025 results, highlighting higher R&D spending as clinical programs advanced. The company posted a net loss of $23.3 million versus $13.8 million a year ago, driven by R&D of $20.9 million (up 93%) as CRB-701 and CRB-601 trials expanded and CRB-913 progressed in Phase 1. G&A declined to $3.6 million from $4.7 million.

Liquidity remained solid. Cash, cash equivalents and investments were $104.0 million as of September 30, 2025. Management stated that these resources, together with $73.8 million in net proceeds from recent equity sales and the 2025 public offering, are expected to fund operations for at least twelve months after this report’s issuance. Net cash used in operations was $48.6 million for the nine months.

Subsequent to quarter-end, the company sold 232,279 shares via its Open Market Sale Agreement for net proceeds of $3.6 million and completed a public offering on November 3, 2025, raising gross proceeds of $75.0 million (net $70.2 million). Shares outstanding were 12,534,853 as of September 30, 2025.

Corbus Pharmaceuticals (CRBP) entered an underwriting agreement for a public offering of 4,744,231 shares of common stock at $13.00 per share and pre-funded warrants to purchase up to 1,025,000 shares at $12.9999 per warrant. Underwriters also received a 30‑day option to buy up to 865,384 additional shares at the public price.

Corbus expects approximately $70.5 million in net proceeds from the transaction, which is being conducted under an effective Form S‑3 shelf registration. The closing is expected on or about November 3, 2025, subject to customary conditions. The pre-funded warrants are exercisable at any time after issuance, with a 9.99% beneficial ownership cap that holders can adjust up to 19.99% with notice, effective on the 61st day.

The offering terms were described in a final prospectus supplement dated October 30, 2025. The company noted customary representations, indemnities, and termination provisions in the underwriting agreement.

Corbus Pharmaceuticals (CRBP) launched a public offering of 4,744,231 shares at $13.00 per share and 1,025,000 pre-funded warrants, together with 1,025,000 shares issuable upon warrant exercise. The company expects $70.5 million in proceeds before expenses and estimates approximately $70.2 million in net proceeds. Underwriters have a 30‑day option to buy up to 865,384 additional shares.

The pre-funded warrants are immediately exercisable at $0.0001 per share. Shares outstanding will be 18,528,517 after the offering (or 19,393,901 if the option is fully exercised), assuming full exercise of pre-funded warrants. Corbus plans to use proceeds to fund clinical development across its pipeline and for working capital and general corporate purposes.

As context, Corbus reported $104.0 million in cash, cash equivalents, and investments as of September 30, 2025, and has sold 505,217 shares via its ATM since June 30, 2025 for $6.7 million in gross proceeds. The filing’s dilution analysis indicates an immediate dilution of $2.96 per share to new investors at the offering price.

Corbus Pharmaceuticals (CRBP) provided a preliminary financial update for the quarter ended September 30, 2025. Management estimates cash, cash equivalents, and investments of approximately $104.0 million as of September 30, 2025, including $27.0 million in cash and cash equivalents.

These figures are preliminary and unaudited, subject to normal closing procedures and potential adjustments. The company’s independent registered public accounting firm has not audited, reviewed, or compiled this data and offers no assurance. The estimate does not reflect any activity after September 30, 2025, including sales under the company’s Open Market Sale Agreement with Jefferies LLC, as amended. Corbus notes the estimate may change when final results are filed.

Corbus Pharmaceuticals (CRBP) launched a preliminary prospectus supplement for a primary offering of common stock and, at investors’ election, pre‑funded warrants, with the underwriters granted a 30‑day option to purchase additional shares. The pre‑funded warrants are immediately exercisable for one share at an exercise price of $0.0001 per share and include a 9.99% Beneficial Ownership Limitation (electable up to 19.99% with notice).

The company plans to use net proceeds to fund clinical development across its oncology and obesity programs and for working capital and general corporate purposes. As context, the stock last closed at $16.86 on October 29, 2025, and Corbus preliminarily estimates cash, cash equivalents, and investments of approximately $104.0 million as of September 30, 2025. Since June 30, 2025, it sold 505,217 shares via its at‑the‑market program for $6.7 million. Shares outstanding were 12,254,069 as of June 30, 2025, after giving effect to those ATM sales.

Corbus Pharmaceuticals (CRBP) CEO and director Yuval Cohen reported insider transactions on a Form 4. On 10/24/2025 and 10/27/2025, he exercised stock options at $4.26 per share and sold the same number of common shares under a Rule 10b5-1 trading plan adopted on March 14, 2025.

He exercised 18,660 options on 10/24 and sold 18,660 shares at a weighted average price of $17.01 (range $16.79–$17.38). He exercised 8,973 options on 10/27 and sold 8,973 shares at a weighted average price of $17.14 (range $17.00–$17.31).

Following these transactions, he beneficially owned 138,187 shares, which includes 123,561 unvested RSUs subject to vesting schedules. Remaining derivative holdings include 22,106 stock options at an exercise price of $4.26 expiring on 02/13/2033.

Corbus Pharmaceuticals (CRBP) Form 4: On 10/24/2025, the company’s Chief Financial Officer exercised stock options for 12,981 shares at $4.26 per share (Code M) and sold 12,981 common shares at a weighted average price of $17.02 (Code S) pursuant to a Rule 10b5-1 trading plan adopted on March 14, 2025.

Following these transactions, the officer beneficially owns 73,313 shares; this amount includes 57,632 unvested RSUs subject to each grant’s vesting schedule. The reported sale occurred in multiple trades ranging from $16.79 to $17.38. The option award was granted under the 2014 Equity Compensation Plan, with 25% vesting on February 13, 2024 and the remainder vesting monthly over 36 months commencing on March 13, 2024.