Corbus Pharmaceuticals Announces Publication of Two Abstracts at EULAR 2021 Virtual Congress

Rhea-AI Summary

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.

Positive

• Publication of two abstracts at the EULAR 2021 Virtual Congress could enhance visibility.
• Presentation of phase 3 trial data indicates ongoing clinical research and potential advancements in treatment.

Negative

• Lenabasum is not yet approved for any indication, implying ongoing uncertainty regarding market entry.

Norwood, MA, May 25, 2021 (GLOBE NEWSWIRE) -- Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (“Corbus” or the “Company”), a clinical-stage drug development company pioneering transformative medicines that target the endocannabinoid system, today announced the publication of two abstracts at the European League Against Rheumatism (EULAR) 2021 Virtual Congress that will be taking place June 2-5, 2021.

Details of the presentations are as follows:

Presentation Title: Phase 3 Trial of Lenabasum, a CB2 Agonist, for the Treatment of Diffuse Cutaneous Systemic Sclerosis (dcSSc)
Session: Progress in myositis and scleroderma research - I
Date: Thursday, June 3, 2021
Presentation Time: 10:25 a.m. - 10:32 a.m. CEST (4:25 a.m. – 4:32 a.m. EDT)
Presenter: Robert Spiera, M.D., Director of the Scleroderma, Vasculitis, and Myositis Program at the Hospital for Special Surgery, Weill Cornell Medical College and Co-Principal Investigator of Corbus’ Phase 3 RESOLVE-1 study in systemic sclerosis
Abstract Number: OP0171

Poster Title: Long-term Safety and Efficacy of Lenabasum during 3 Years in an Open-Label Extension (OLE) of a Phase 2 Study of Lenabasum in Refractory Skin Disease in Dermatomyositis (DM)
Session: Scleroderma, myositis and related syndromes
Date: Saturday, June 5, 2021
Presentation Time: 10:30 a.m. - 10:36 a.m. CEST (4:30 a.m. – 4:36 a.m. EDT)
Presenter: Victoria Werth, M.D., Professor of Dermatology and Medicine at the University of Pennsylvania Perelman School of Medicine and Co-Principal Investigator of Corbus' Phase 3 DETERMINE study in dermatomyositis
Abstract Number: POS0315

The abstracts are published in the EULAR 2021 Abstract Archive on the conference website. EULAR presentations are under embargo until 00:01 GMT+1 on June 2, 2021. Once the presentations are made public, they will be available on the Company’s website in the Scientific Conferences section.

About Lenabasum

Lenabasum is a novel, oral, small molecule designed to provide an alternative to immunosuppressive treatments for inflammatory or fibrotic diseases. Lenabasum binds to and activates the cannabinoid receptor type 2 (CB2), which is preferentially expressed on activated immune cells, to resolve inflammation and limit fibrosis. Data from animal models and human clinical studies suggest that lenabasum can reduce expression of genes and proteins involved in inflammation and fibrosis. In clinical testing to date, lenabasum has acceptable safety and tolerability profiles without evidence of immunosuppression.

About Corbus 

Corbus Pharmaceuticals Holdings, Inc. is a clinical-stage company focused on the development and commercialization of novel medicines designed to target the endocannabinoid system. The Company’s lead product candidate, lenabasum, is a novel, oral, selective cannabinoid receptor type 2 (CB2) agonist designed to provide an alternative to immunosuppressive medications in the treatment of chronic inflammatory and fibrotic diseases. Lenabasum is currently being evaluated in dermatomyositis and systemic lupus erythematosus. Corbus is also developing a pipeline of other preclinical drug candidates from its endocannabinoid system platform.

Lenabasum is not approved for the treatment of any indication. For more information on Corbus’ clinical programs, please visit here.

For more information, visit http://www.corbuspharma.com/, and connect with us on Twitter, LinkedIn, and Facebook.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's restructuring, trial results, product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.

These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential,” "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors, including the potential impact of the recent COVID-19 pandemic and the potential impact of sustained social distancing efforts, on our operations, clinical development plans and timelines, which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Corbus Pharmaceuticals Contacts:

Ted Jenkins, Senior Director, Investor Relations and Corporate Communications
Phone: +1 (617) 415-7745
Email: ir@corbuspharma.com

Lindsey Smith, Director, Investor Relations and Corporate Communications
Phone: +1 (617) 415-7749
Email: mediainfo@corbuspharma.com

FAQ

What abstracts did Corbus Pharmaceuticals present at EULAR 2021?

Corbus presented two abstracts: one on a Phase 3 trial of lenabasum for Diffuse Cutaneous Systemic Sclerosis and another on its long-term safety and efficacy in Dermatomyositis.

When is Corbus Pharmaceuticals' presentation scheduled at EULAR 2021?

The presentation on the Phase 3 trial is scheduled for June 3, 2021, and the poster for June 5, 2021.

What is lenabasum and what diseases is it targeting?

Lenabasum is a novel oral small molecule targeting inflammatory and fibrotic diseases by activating the cannabinoid receptor type 2.

Is lenabasum approved for any conditions?

No, lenabasum is not currently approved for any indication.

How could the abstracts impact Corbus Pharmaceuticals' stock (CRBP)?

The visibility from the abstracts at a prominent congress may positively influence investor interest and stock performance.