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 (NASDAQ: CRBP) announced that its Phase 2b trial of lenabasum in cystic fibrosis did not meet its primary endpoint of reducing pulmonary exacerbations. Conducted over 28 weeks, the study involved subjects from the U.S., Canada, and Europe, comparing lenabasum to a placebo. Despite the disappointing results, lenabasum exhibited a favorable safety profile.
Topline data will be presented at the upcoming North American Cystic Fibrosis Conference from October 7-23, 2020, where further details will be disclosed.
Corbus Pharmaceuticals (NASDAQ: CRBP) announced topline results from the Phase 3 RESOLVE-1 study of lenabasum for diffuse cutaneous systemic sclerosis. The study showed no significant differences in primary and secondary endpoints compared to placebo, with both treatment groups achieving a median ACR CRISS score of approximately 0.887. Safety assessments indicated that lenabasum was well tolerated, with no new safety signals. The company plans further data analysis and continues to pursue clinical trials for lenabasum in other diseases such as cystic fibrosis.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced its second quarter financial results and provided updates on its clinical studies. The company reported a net loss of $38.1 million, down from a net income of $2.2 million in the same quarter last year, primarily due to a lack of significant licensing revenue. Revenue fell to $0.3 million, a decrease of $28.8 million. Corbus strengthened its balance sheet with $121 million in new capital, including a $71 million ATM offering and a $50 million debt facility. Topline results for its RESOLVE-1 Phase 3 study of lenabasum for systemic sclerosis are expected this summer.
Corbus Pharmaceuticals (NASDAQ: CRBP) announced the successful completion of subject enrollment in its Phase 3 clinical trial, DETERMINE, evaluating lenabasum for treating dermatomyositis. The study enrolled 176 participants, making it the largest randomized, double-blind, placebo-controlled study for this condition. Topline results are anticipated in the fourth quarter of 2021. Lenabasum has received Orphan Drug Designation from the FDA and EMA, indicating significant unmet medical need in treating this rare autoimmune disease.
Corbus Pharmaceuticals (NASDAQ: CRBP) announced that CEO Yuval Cohen, Ph.D., will present at two key conferences this month. The events include the BTIG Virtual Biotechnology Conference on August 10, 2020, at 10:00 AM ET and the Canaccord Genuity 40th Annual Growth Conference on August 13, 2020, at 3:00 PM ET. Webcast access will be available on the company's website post-event. Corbus is in the Phase 3 stage of developing lenabasum for treating inflammatory diseases and has an upcoming safety study for CRB-4001, targeting nonalcoholic steatohepatitis.
Corbus Pharmaceuticals Holdings (NASDAQ: CRBP) will report its second quarter financial results on August 6, 2020. Management, led by CEO Yuval Cohen, will hold a conference call and webcast at 8:30 a.m. ET. The company focuses on novel therapeutics targeting inflammatory diseases, with key candidates including lenabasum and CRB-4001.
Corbus Pharmaceuticals announced an aggregate of $71 million in proceeds from an at-the-market offering, selling 9,167,080 shares at a weighted average price of $7.70 per share. The company also secured a $50 million debt facility with K2 HealthVentures, receiving the first $20 million tranche. With $101 million in cash on hand, Corbus expects to fund operations into Q3 2021. This funding enhances the company's strategic flexibility, particularly following Phase 3 clinical readouts.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) appointed George Golumbeski, Ph.D., to its Board of Directors. Dr. Golumbeski brings extensive experience from his roles at Celgene and Novartis, enhancing the company's leadership ahead of crucial data readouts this summer. He emphasizes the importance of Corbus' focus on unmet medical needs, especially regarding lenabasum, a first-in-class treatment for systemic sclerosis and dermatomyositis, which currently lack approved therapies. The addition aims to strengthen Corbus as it evolves from a pre-commercial to a commercial stage.
Corbus Pharmaceuticals (NASDAQ: CRBP) presented data from three abstracts at the 6th Systemic Sclerosis World E-Congress, indicating that the ACR CRISS score correlates positively with patient-reported outcomes in systemic sclerosis (SSc) over two years. The ACR CRISS score is the primary endpoint for the upcoming RESOLVE-1 Phase 3 study of lenabasum, with topline data expected in summer 2020. A satellite symposium will discuss the endocannabinoid system's role in chronic inflammation and fibrosis during the Congress.
Corbus Pharmaceuticals announced the completion of the final visit in their Phase 2b trial of lenabasum for cystic fibrosis, which enrolled 426 participants. The primary endpoint focuses on reducing pulmonary exacerbations (PEx). Topline results are expected in Q3 2020, supported by a $25 million Development Award from the Cystic Fibrosis Foundation. Lenabasum has received Orphan Drug and Fast Track designations from FDA and EMA. Despite currently being unapproved, lenabasum shows promise in reducing inflammation and fibrosis, addressing a significant unmet need in CF treatment.
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