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Dec 31, 2024
Corbus Pharmaceuticals Q4 2024 Earnings Report
Corbus Pharmaceuticals reported its Q4 and full-year 2024 financial results, highlighting progress in its oncology and obesity programs and a strong cash position.
Key Takeaways
Corbus Pharmaceuticals reported a net loss of $9.5 million for Q4 2024, an increase from $8.0 million in Q4 2023. The company ended the year with $149.1 million in cash and investments, projecting a cash runway through Q3 2027. Significant progress was noted in its CRB-701 oncology program, which received Fast Track Designation, and its CRB-913 obesity program, with first-in-human dosing expected in March 2025.
CRB-701, a Nectin-4 targeting ADC, showed encouraging safety and efficacy results in its Phase 1 Western study, with clinical responses in urothelial and cervical cancer, and first-time responses in HNSCC.
The FDA granted Fast Track Designation to CRB-701 for the treatment of relapsed or refractory metastatic cervical cancer.
The CRB-913 obesity program is on track for first-in-human dosing in March 2025, with a Phase 1 dose-range finding study expected to commence in Q4 2025.
Corbus reported $149.1 million in cash, cash equivalents, and investments as of December 31, 2024, with a projected cash runway through Q3 2027.
Forward Guidance
Corbus Pharmaceuticals anticipates significant clinical data generation from its oncology and obesity programs in the second half of 2025, with key milestones including dose optimization for CRB-701 and the initiation of a Phase 1 dose-range finding study for CRB-913.
Positive Outlook
- CRB-701 dose optimization and establishment of a recommended Phase 2 dose (RP2D) expected in Q4 2025.
- First-in-human dosing for CRB-913 obesity study expected in March 2025.
- Phase 1 dose-range finding study for CRB-913 expected to commence in Q4 2025.
- Completion of CRB-601 dose escalation expected in Q4 2025.
- Informative clinical data from all three programs expected in the second half of 2025.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
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