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Mar 31, 2023
Corbus Pharmaceuticals Q1 2023 Earnings Report
Reported first quarter 2023 financial results and provided corporate update.
Key Takeaways
Corbus Pharmaceuticals reported a net loss of $17.7 million for the first quarter of 2023. The company's operating expenses increased due to the upfront payment for the CSPC License Agreement and a development milestone under the USCF License Agreement. As of March 31, 2023, the company's cash and investments are expected to fund operations through the second quarter of 2024.
Expanded precision oncology pipeline with in-licensing of CRB-701, a clinical-stage Nectin-4 antibody drug conjugate (ADC) from CSPC Pharmaceutical Group.
CRB-701 Phase 1 dose escalation study ongoing in patients with advanced solid tumors in China.
Presented latest CRB-601 anti-αvβ8 mAb pre-clinical data at American Association of Cancer Research (AACR) 2023 annual meeting with IND submission on track for the second half of 2023.
Expanded Board of Directors with appointment of Yong Ben, MD.
Corbus Pharmaceuticals
Corbus Pharmaceuticals
Forward Guidance
Corbus Pharmaceuticals expects that its cash and investments on hand as of March 31, 2023, will fund operations through the second quarter of 2024.