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Jun 30, 2024
Corbus Pharmaceuticals Q2 2024 Earnings Report
Corbus Pharmaceuticals reported financial results for the second quarter of 2024 and provided a corporate update.
Key Takeaways
Corbus Pharmaceuticals reported a net loss of $10.0 million for the second quarter of 2024. The company's cash, cash equivalents, and investments totaled $147 million as of June 30, 2024, which, along with additional net proceeds, is expected to fund operations through Q3 2027.
Clinical update presented at ASCO 2024 for CRB-701 showed continued differentiated safety and encouraging efficacy in patients with metastatic urothelial cancer or cervical cancer
CRB-701 Phase 1 dose escalation underway in USA and Europe for patients with metastatic urothelial cancer and other nectin-4 enriched tumors and is on schedule for completion in Q4 2024
Cash runway extended through Q3 2027 with $147 million of cash & investments at June 30, 2024
Dose escalation commenced in the Phase 1 clinical trial of CRB-701-01 in April 2024 and expects to complete the dose escalation phase in Q4 2024 and present the USA dose escalation data in Q1 2025.
Forward Guidance
The $147 million of cash, cash equivalents and investments at June 30, 2024 together with the $28.8 million of additional net proceeds raised through August 1, 2024 is expected to fund operations through Q3 2027, based on planned expenditures.
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