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 (NASDAQ: CRBP) announced that CEO Yuval Cohen, Ph.D. will present at two virtual investor conferences. The 33rd Annual Virtual Roth Conference is scheduled for March 16, 2021 at 1:30 PM EST, followed by the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021 at 1:10 PM EST. Both events will include a fireside chat and Q&A session. Investors can access audio webcasts and replays on the Corbus website. Corbus develops innovative medicines targeting the endocannabinoid system, with its lead candidate, lenabasum, in trials for inflammatory diseases.
Corbus Pharmaceuticals Holdings (NASDAQ: CRBP) will report its fourth quarter and year-end financial results on March 15, 2021, at 8:30 a.m. ET. The conference call will be led by CEO Yuval Cohen and will include the management team. Investors can join by dialing (877) 407-3978 for domestic or (412) 902-0039 for international access. A live webcast will also be available.
Corbus Pharmaceuticals (NASDAQ: CRBP) announced its participation in a webinar hosted by the New York Academy of Sciences on January 27, 2021. The event will feature presentations detailing the company's pipeline, including mechanistic studies of lenabasum, a CB2 agonist, and preclinical data from its oncology and metabolism programs. Key topics will include new insights into acute inflammation and the therapeutic potential of cannabinoid receptors. The presentations will be made by experts from the company and academia.
Corbus Pharmaceuticals announced that CEO Yuval Cohen will participate in a fireside chat at the Jefferies Virtual London Healthcare Conference on November 19, 2020, at 12:35 PM EST. This event will be accessible through a live audio webcast. Corbus is known for developing lenabasum, a treatment targeting the endocannabinoid system for chronic inflammatory diseases.
Corbus Pharmaceuticals (CRBP) announced plans to shorten its Phase 3 dermatomyositis trial from 52 to 28 weeks, projecting topline data by Q2 2021. This strategic move follows recent competitive pressures and extends the company's cash runway into Q2 2022. Financial results showed a net loss of $34.9 million for Q3 2020, up from $20.8 million year-over-year, with revenue decreasing to $1.2 million. Despite setbacks in the RESOLVE-1 systemic sclerosis and cystic fibrosis studies, Corbus remains committed to advancing its pipeline, including ongoing clinical trials for systemic lupus erythematosus.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced new data from the RESOLVE-1 Phase 3 study of lenabasum for systemic sclerosis. Post-hoc analyses revealed lenabasum treatment positively impacted lung function, particularly in patients on long-term immunosuppressant therapies. The study's results suggest lenabasum could meet a significant unmet need, presenting potential commercial opportunities. Systemic sclerosis affects up to 75,000 Americans, and lenabasum is recognized with Orphan Drug and Fast Track designations by the FDA.
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.
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