Loading...
•
Jun 30, 2023
Corbus Pharmaceuticals Q2 2023 Earnings Report
Corbus Pharmaceuticals reported financial results for the second quarter of 2023 and provided a corporate update.
Key Takeaways
Corbus Pharmaceuticals reported a net loss of $8.8 million for the second quarter of 2023. Substantial progress was made advancing CRB-701. The company's cash, cash equivalents and investments on hand are expected to fund operations through the second quarter of 2024.
CRB-701 Phase 1 trial in China is ahead of schedule, with dose escalation completion expected in Q4 2023 and a U.S. clinical trial start planned for Q1 2024.
Preliminary clinical PK data indicates CRB-701 has a longer half-life and reduced levels of circulating free MMAE relative to published data for PADCEV®.
CRB-601 IND submission is on track for Q4 2023.
The company had $36.6 million of cash, cash equivalents and investments on hand as of June 30, 2023.
Forward Guidance
Corbus Pharmaceuticals anticipates completing the dose escalation portion of the CRB-701 trial in China in Q4 2023 and initiating the U.S. clinical trial in Q1 2024. The IND submission for CRB-601 is anticipated in Q4 2023, with the first patient expected to be enrolled in the Phase 1 study in the first half of 2024.
Positive Outlook
- CRB-701 Phase 1 trial in China is ahead of schedule.
- Dose escalation completion expected Q4 2023.
- U.S. clinical trial start planned for Q1 2024.
- CRB-601 IND submission is on track for Q4 2023.
- Phase 1 clinical trial expected to start in the first half of 2024.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...