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Mar 31, 2022
Corbus Pharmaceuticals Q1 2022 Earnings Report
Corbus Pharmaceuticals reported first quarter 2022 financial results.
Key Takeaways
Corbus Pharmaceuticals reported a net loss of $9.4 million for the first quarter of 2022. The company's cash and investments on hand of $86.8 million are expected to fund operations into the first quarter of 2024.
Promising pre-clinical data generated for CRB-601 across several tumor models as monotherapy and in combination with anti-PD1 therapy
IND submission for CRB-601 is on-track for the first half of 2023
Expanding immuno-oncology pipeline through strategic transactions remains key priority
Cash and investments on hand of $86.8 million funds operations into the first quarter of 2024
Corbus Pharmaceuticals
Corbus Pharmaceuticals
Forward Guidance
Corbus is focused on transforming into an immuno-oncology company, advancing its anti-integrin program, and seeking partnerships to expand its pipeline and monetize ECS assets.
Positive Outlook
- CRB-601 demonstrates an enhancement of anti-tumor activity when combined with anti PD-1 therapy compared to either single agent alone.
- IND-enabling activities for CRB-601 are ongoing and the program is on schedule for an IND submission in the first half of 2023.
- CRB-913 induced weight loss and impacted multiple metabolic parameters.
- The National Institutes of Health sponsored Phase 2 study of lenabasum in systemic lupus erythematosus has completed its last patient visit and the clinical database has been locked.
- Corbus is pursuing potential partnerships to fund further development of lenabasum.