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Dec 31, 2020
Corbus Pharmaceuticals Q4 2020 Earnings Report
Reported financial results for the fourth quarter and year-end 2020.
Key Takeaways
Corbus Pharmaceuticals reported Q4 2020 financial results, with revenue from awards and licenses at $700,000, operating expenses at $21.5 million, and a net loss of $8.6 million. The company had approximately $85.4 million in cash and cash equivalents at the end of the year and expects to fund operations into Q1 2024 with $127M of cash on hand as of March 15, 2021.
Revenue from awards and licenses was $700,000 for Q4 2020, compared to $2.6 million in Q4 2019.
Operating expenses were $21.5 million for Q4 2020, compared to $29.8 million in Q4 2019.
Net loss was approximately $8.6 million, or $0.10 per diluted share, for Q4 2020, compared to a net loss of $26.6 million, or $0.41 per diluted share, for Q4 2019.
Cash and cash equivalents were $85.4 million at December 31, 2020, and the company expects $127 million of cash on hand at March 15, 2021 to fund operations into the first quarter of 2024.
Corbus Pharmaceuticals
Corbus Pharmaceuticals
Forward Guidance
Corbus Pharmaceuticals expects to fund operations into the first quarter of 2024 based on current planned expenditures.