Welcome to our dedicated page for Corbus Pharmaceuticals Holdings news (Ticker: CRBP), a resource for investors and traders seeking the latest updates and insights on Corbus Pharmaceuticals Holdings stock.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a clinical-stage drug development company dedicated to creating innovative therapies for rare, chronic, and serious inflammatory and fibrotic diseases. The company's leading product candidate, Resunab™, is a pioneering oral anti-inflammatory drug designed to resolve inflammation through an endogenous pathway. Resunab™ is set to begin three Phase 2 clinical trials in 2015 targeting cystic fibrosis, diffuse systemic sclerosis (scleroderma), and dermatomyositis, all conditions where inflammation significantly contributes to disease progression. Additionally, Resunab™ has the potential to address other rare inflammatory diseases.
Corbus Pharmaceuticals is also a precision oncology company with a diversified portfolio aimed at tackling serious illnesses using scientific approaches to well-known biological pathways. The company's development pipeline includes several key candidates:
- CRB-701: A next-generation antibody-drug conjugate (ADC) targeting Nectin-4 on cancer cells, releasing a cytotoxic payload.
- CRB-601: An anti-integrin monoclonal antibody blocking TGFβ activation expressed on cancer cells.
- CRB-913: A second-generation, peripherally restricted CB1 receptor inverse agonist designed to treat obesity.
Recent developments include the FDA clearance of CRB-601 for a Phase 1 study expected to enroll the first patient in the summer of 2024. Additionally, the company completed a public offering in February 2024, raising $94.5 million, and reported $127 million in cash, cash equivalents, and investments as of February 2, 2024, extending their cash runway through March 31, 2027.
Corbus aims to use the net proceeds from their recent underwritten offering to further their clinical development pipeline, ensuring robust progress across their range of innovative therapies. The company's partnerships and collaborations, such as with CSPC Pharmaceutical Group, highlight their commitment to advancing their pipeline and translating scientific discoveries into effective treatments for patients worldwide.
Headquartered in Norwood, Massachusetts, Corbus Pharmaceuticals is at the forefront of the biotechnology field, continuously striving to bring first-in-class treatments to market, thereby addressing unmet medical needs and improving patient outcomes. For more information, visit corbuspharma.com.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced that pre-clinical data for its avβ8 blocking antibody, CRB-601, has been accepted for presentation at the 2023 American Association for Cancer Research annual meeting in Orlando, FL, from April 14-19, 2023.
The poster presentation is titled CRB-601, an avβ8 blocking antibody, prevents activation of TGFβ and exhibits anti-tumor activity associated with immune cell remodeling of the tumor microenvironment and will occur on April 16, 2023, from 1:30 PM - 5:00 PM.
Corbus focuses on innovative treatments targeting well-understood biological pathways in cancer therapy.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) has announced significant advancements in its precision oncology pipeline, highlighted by the exclusive licensing of CRB-701, a next-generation Nectin-4 antibody-drug conjugate. CRB-701 is currently in Phase 1 trials in China, targeting advanced solid tumors. Additionally, the company is on track for an IND submission of CRB-601 in late 2023, showcasing promising pre-clinical data. Financially, Corbus reported a net loss of approximately $10.9 million for Q4 2022, slightly worsening from the previous year. Despite these losses, the company maintains $59.2 million in cash, sufficient to fund operations into mid-2024.
Corbus Pharmaceuticals (NASDAQ: CRBP) announced the appointment of Yong Ben, M.D., MBA, to its Board of Directors on March 6, 2023. Dr. Ben brings over 20 years of oncology experience, having led numerous clinical development programs, including drug approvals at renowned companies. His expertise in healthcare venture investment is expected to enhance Corbus' strategic capabilities. The company's recent license agreement for CRB-701 bolsters its position in precision oncology. Corbus aims to advance its pipeline, including CRB-701 and CRB-601, under Dr. Ben's guidance.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced that CEO Yuval Cohen, Ph.D., will present a corporate update and engage in one-on-one investor meetings at the Oppenheimer 33rd Annual Healthcare Conference, hosted virtually from March 13-15, 2023.
The presentation is scheduled for March 14, 2023, at 9:20 a.m. ET. Investors can access the webcast here.
Corbus focuses on precision oncology, with key products including CRB-701 and CRB-601 targeting cancer cells.
Corbus Pharmaceuticals Holdings has entered an exclusive licensing agreement with CSPC Pharmaceutical Group for the development of CRB-701, an antibody drug conjugate targeting Nectin-4. This drug is being developed for various cancers, including urothelial, lung, breast, and prostate. An upfront payment of $7.5 million will be made to CSPC, with potential milestone payments totaling $685 million. The agreement also includes a 1-for-30 reverse stock split effective February 14, 2023, aimed at maintaining compliance with Nasdaq's minimum bid price requirement of $1.00. Corbus aims to initiate US clinical trials in 2024.
Corbus Pharmaceuticals presented new preclinical data for CRB-601, an anti-αvβ8 integrin monoclonal antibody, at the SITC Annual Meeting. CRB-601 shows significant tumor growth inhibition as a single agent and enhances anti-PD-1 therapy effectiveness in various tumor models. Notably, it restores sensitivity in tumors resistant to checkpoint inhibitors. Corbus plans an IND submission for CRB-601 in mid-2023, positioning it as a promising candidate for solid tumor treatment, especially in the context of immune-excluded tumors that currently do not respond to existing therapies.
Corbus Pharmaceuticals Holdings (NASDAQ: CRBP) reported a net loss of $8.8 million for Q3 2022 compared to $2.2 million in Q3 2021, influenced by a prior year tax credit. Operating expenses decreased to $8.2 million from $14.0 million due to reduced clinical trial costs. The company is advancing its CRB-601 therapy, with IND submission planned for mid-2023, and positive pre-clinical data will be presented at SITC 2022. Cash reserves of $67 million are expected to support operations through Q2 2024.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced a poster presentation at the SITC 2022 Annual Meeting scheduled for November 8-12, 2022. The presentation will highlight the preclinical validation of CRB-601, a selective integrin αvβ8 blocking antibody that shows potent anti-tumor activity in anti-PD-1 resistant models. Investigational New Drug (IND) enabling studies are in progress, with plans to explore its clinical anti-tumor activity in 2023. The poster will be available on the Company's website on November 10.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced the appointment of Anne Altmeyer, PhD, MBA, MPH to its board of directors. With extensive experience in oncology R&D and corporate development, Altmeyer aims to enhance Corbus' pipeline and business strategies. Currently serving as President and CEO of TigaTx, she has held leadership roles at Sigilon Therapeutics and Novartis, among others. This appointment is expected to drive growth and innovation in developing immune-oncology therapeutics.
Corbus Pharmaceuticals (NASDAQ: CRBP) presented promising preclinical data for its novel oral cannabinoid, CRB-913, at the European Association for the Study of Diabetes 2022 Annual Conference. CRB-913, a CB1 inverse agonist, demonstrated significant anti-obesity effects by reducing body weight, fat content, and liver triglycerides in diet-induced obesity mouse models. Notably, CRB-913 enhanced the efficacy of incretin analogues such as liraglutide, semaglutide, and tirzepatide, suggesting a potential for combination therapy that could improve current obesity treatments.
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