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 (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.
Corbus Pharmaceuticals Holdings announced the enrollment of the last participant in a Phase 2 study of lenabasum for treating systemic lupus erythematosus (SLE). This exploratory trial involves 101 participants and evaluates lenabasum's safety and efficacy alongside standard treatments over 16 weeks. The study is the first to target the cannabinoid receptor type 2 in SLE, with primary results expected in the second half of 2021. Lenabasum aims to provide an alternative to immunosuppressive treatments for inflammatory diseases.
Corbus Pharmaceuticals (NASDAQ: CRBP) announced the completion of the final visit in the double-blind part of its Phase 3 DETERMINE study of lenabasum for treating dermatomyositis, a rare autoimmune disease. Topline data is expected in Q2 2021. The trial, involving 176 subjects, evaluates lenabasum's safety and efficacy against standard treatments. Lenabasum, granted Orphan Drug Designation by the FDA and EMA, aims to offer a safer alternative to current options. Dermatomyositis affects approximately 80,000 patients in North America, Europe, and Japan.
Corbus Pharmaceuticals (CRBP) announced progress in its clinical studies and a robust financial position with $127M cash on hand, expected to sustain operations into 2024. The Phase 3 DETERMINE study of lenabasum for dermatomyositis is on track for topline data in Q2 2021. While lenabasum did not meet primary endpoints in previous studies for systemic sclerosis and cystic fibrosis, the company is focusing on new drug development targeting metabolic diseases and cancer, with clinical studies anticipated in 2022.
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