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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.
Corbus Pharmaceuticals
Corbus Pharmaceuticals
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.