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Core Viewpoint - Corbus Pharmaceuticals is hosting a KOL event to discuss dose optimization data from its Phase 1/2 clinical trial of CRB-701, targeting advanced solid tumors with high Nectin-4 expression [1][3]. Group 1: Event Details - The KOL event will take place on October 19, 2025, at the Berlin Germany Marriott, starting at 10 AM CEST [2]. - The event will include insights from leading experts in head and neck squamous cell carcinoma (HNSCC) and a live Q&A session [2]. Group 2: Clinical Trial Information - The ongoing clinical trial (NCT06265727) is evaluating the safety, pharmacokinetics, and efficacy of CRB-701 in patients with advanced solid tumors, primarily focusing on HNSCC and cervical cancer [3]. - Data from over 100 participants will be presented, highlighting the trial's significance in the oncology field [1]. Group 3: About CRB-701 - CRB-701 is a next-generation antibody drug conjugate (ADC) that targets Nectin-4, utilizing a cleavable linker and a drug antibody ratio of 2, with monomethyl auristatin E as the payload [7][8]. - Nectin-4 is recognized as a clinically validated tumor-associated antigen in urothelial cancer [8]. Group 4: Company Overview - Corbus Pharmaceuticals is a clinical stage oncology and obesity company focused on innovative scientific approaches to treat serious illnesses [9]. - The company's pipeline includes CRB-701, CRB-601 (an anti-integrin monoclonal antibody), and CRB-913 (a CB1 receptor inverse agonist for obesity) [9].

Core Insights - Corbus Pharmaceuticals has received Fast Track designation from the FDA for CRB-701, aimed at treating recurrent or metastatic head and neck squamous cell carcinoma (HNSCC) previously treated with platinum-based chemotherapy and anti-PD(L)-1 therapy [1][2] - The company previously received a Fast Track designation for CRB-701 for relapsed or refractory metastatic cervical cancer in December 2024 [1] - CRB-701 is a next-generation antibody drug conjugate (ADC) targeting Nectin-4, featuring a site-specific, cleavable linker and a drug antibody ratio of 2, utilizing MMAE as the payload [2] Clinical Development - An ongoing Phase 1/2 clinical trial is assessing the safety, pharmacokinetics, and efficacy of CRB-701 in patients with advanced solid tumors associated with high Nectin-4 expression [3] - Dose escalation data from the Phase 1/2 clinical trial of CRB-701 was presented at ASCO-GU 2025, with the first data from the Phase 1/2 dose optimization set to be presented at ESMO 2025 on October 19, 2025 [3][9] - The study primarily enrolled patients with HNSCC and cervical cancer [3] Company Overview - Corbus Pharmaceuticals is a clinical stage oncology and obesity company focused on innovative scientific approaches to serious illnesses [4] - The company's pipeline includes CRB-701, CRB-601 (an anti-integrin monoclonal antibody), and CRB-913 (a CB1 receptor inverse agonist for obesity treatment) [4] - Corbus is headquartered in Norwood, Massachusetts [4]

Core Insights - Corbus Pharmaceuticals has received Fast Track designation from the FDA for CRB-701, aimed at treating recurrent or metastatic head and neck squamous cell carcinoma (HNSCC) previously treated with platinum-based chemotherapy and anti-PD(L)-1 therapy [1][2] - CRB-701 is a next-generation antibody drug conjugate (ADC) targeting Nectin-4, featuring a site-specific, cleavable linker and a drug antibody ratio of 2, utilizing MMAE as the payload [2] - An ongoing Phase 1/2 clinical trial is assessing the safety, pharmacokinetics, and efficacy of CRB-701 in patients with advanced solid tumors with high Nectin-4 expression, with data to be presented at ESMO 2025 [3][9] Company Overview - Corbus Pharmaceuticals is a clinical stage oncology and obesity company focused on innovative scientific approaches to serious illnesses, with a pipeline that includes CRB-701, CRB-601, and CRB-913 [4] - CRB-601 is an anti-integrin monoclonal antibody targeting TGFβ activation on cancer cells, while CRB-913 is a CB1 receptor inverse agonist for obesity treatment [4]

[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial statements, management's analysis, market risk disclosures, and internal controls for the period [Item 1. Condensed Consolidated Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(unaudited)) Presents unaudited condensed consolidated financial statements, reporting a **$34.6 million** net loss for H1 2025 and decreased total assets to **$125.1 million** [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$125.1 million** by June 30, 2025, with stockholders' equity at **$111.0 million** reflecting the net loss Condensed Consolidated Balance Sheets (in thousands) | | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $20,044 | $17,198 | | Investments | $96,548 | $131,864 | | Total current assets | $122,825 | $152,976 | | **Total assets** | **$125,085** | **$155,879** | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $13,333 | $11,818 | | Total liabilities | $14,094 | $13,451 | | Total stockholders' equity | $110,991 | $142,428 | | **Total liabilities and stockholders' equity** | **$125,085** | **$155,879** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Net loss increased to **$34.6 million** for H1 2025, primarily due to a significant rise in research and development expenses Condensed Consolidated Statements of Operations (in thousands) | | Three Months Ended June 30, | Six Months Ended June 30, | | :--- | :--- | :--- | :--- | :--- | | | **2025** | **2024** | **2025** | **2024** | | Research and development | $15,187 | $6,865 | $30,829 | $12,627 | | General and administrative | $3,965 | $4,123 | $8,098 | $7,984 | | **Total operating expenses** | **$19,152** | **$10,988** | **$38,927** | **$20,611** | | Operating loss | $(19,152) | $(10,988) | $(38,927) | $(20,611) | | **Net loss** | **$(17,662)** | **$(9,997)** | **$(34,640)** | **$(16,896)** | | Net loss per share, basic and diluted | $(1.44) | $(0.90) | $(2.83) | $(1.75) | [Condensed Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity decreased to **$111.0 million** by June 30, 2025, primarily due to the **$34.6 million** net loss - Stockholders' equity decreased to **$111.0 million** at June 30, 2025, from **$142.4 million** at December 31, 2024, mainly due to a net loss of **$34.6 million**[22](index=22&type=chunk) - In the first six months of 2024, the company raised **$144.4 million** from common stock issuance, significantly increasing stockholders' equity[22](index=22&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was **$33.0 million** for H1 2025, with a **$2.8 million** net increase in cash from investing activities Cash Flow Summary (in thousands) | | Six Months Ended June 30, | | :--- | :--- | :--- | | | **2025** | **2024** | | Net cash used in operating activities | $(33,020) | $(16,910) | | Net cash provided by (used in) investing activities | $35,866 | $(114,675) | | Net cash provided by financing activities | $— | $141,547 | | **Net increase in cash, cash equivalents, and restricted cash** | **$2,846** | **$9,962** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Details accounting policies, liquidity, and significant license agreements with potential milestone payments for its clinical pipeline - The company is a **clinical-stage oncology and obesity company** with a pipeline including **CRB-701** (ADC for solid tumors), **CRB-601** (anti-integrin monoclonal antibody), and **CRB-913** (CB1 receptor inverse agonist for obesity)[28](index=28&type=chunk) - The company expects its cash, cash equivalents, and investments of approximately **$116.6 million** at June 30, 2025, will be sufficient for at least twelve months from the report's issuance[33](index=33&type=chunk) - Significant potential future milestone payments include up to **$18.0 million** for CRB-913, **$150.8 million** for CRB-601, and a combined **$685.0 million** for CRB-701 in development, regulatory, and commercial milestones[42](index=42&type=chunk)[46](index=46&type=chunk)[48](index=48&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial condition, increased R&D expenses for its clinical pipeline, and liquidity, projecting funds through **Q2 2027** - The company's pipeline consists of **CRB-701** (Nectin-4 ADC), **CRB-601** (anti-αvβ8 mAb), and **CRB-913** (CB1 inverse agonist for obesity)[93](index=93&type=chunk) - Key clinical milestones expected in **late 2025** include dose expansion data for **CRB-701** at ESMO, identification of the recommended **Phase 2** dose for **CRB-701**, initiation of a **Phase 1b** study for **CRB-913**, and dose escalation data for **CRB-601**[95](index=95&type=chunk)[96](index=96&type=chunk) - Based on current plans, the company's cash, cash equivalents, and investments of **$116.6 million** as of June 30, 2025, are expected to fund operations through **Q2 2027**[120](index=120&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Operating expenses significantly increased due to substantial rises in research and development costs across all three clinical programs [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) Working capital was **$109.5 million** at June 30, 2025, with funds projected through **Q2 2027**, requiring additional capital for trials - At June 30, 2025, the company had total current assets of **$122.8 million** and current liabilities of **$13.3 million**, resulting in working capital of **$109.5 million**[116](index=116&type=chunk) Cash Flow Summary (in thousands) | | Six Months Ended June 30, | | :--- | :--- | :--- | | | **2025** | **2024** | | Net cash used in operating activities | $(33,020) | $(16,910) | | Net cash provided by (used in) investing activities | $35,866 | $(114,675) | | Net cash provided by financing activities | $— | $141,547 | - The company will need to raise significant additional capital to continue funding clinical trials for **CRB-701**, **CRB-601**, and **CRB-913**[121](index=121&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Quantitative and qualitative disclosures about market risk are indicated as not applicable for the company - The company has indicated that quantitative and qualitative disclosures about market risk are **not applicable**[129](index=129&type=chunk) [Item 4. Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective, with no material changes in internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2025[131](index=131&type=chunk) - **No material changes** in internal control over financial reporting occurred during the quarter[132](index=132&type=chunk) [PART II OTHER INFORMATION](index=31&type=section&id=PART%20II%20OTHER%20INFORMATION) This section details legal proceedings, updated risk factors, equity sales, other disclosures, and a list of exhibits [Item 1. Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material legal proceedings - The company is **not currently subject to material legal proceedings**[134](index=134&type=chunk) [Item 1A. Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors from the 2024 Annual Report, but adverse global economic conditions pose potential negative impacts - There have been **no material changes** in or additions to the risk factors included in the 2024 Annual Report[135](index=135&type=chunk) - The company highlights potential negative impacts from **adverse global conditions**, including economic uncertainty, pandemics, geopolitical instability, and changes in international trade policy or tariffs[136](index=136&type=chunk)[137](index=137&type=chunk)[138](index=138&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the reporting period - **None**[139](index=139&type=chunk) [Item 5. Other Information](index=31&type=section&id=Item%205.%20Other%20Information) No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted, modified, or terminated by directors or officers in Q2 2025 - **No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements** were adopted, modified, or terminated by directors or officers during Q2 2025[142](index=142&type=chunk) [Item 6. Exhibits](index=32&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the Quarterly Report on Form 10-Q, including CEO/CFO certifications and Inline XBRL documents - The report includes filed exhibits such as **CEO and CFO certifications** (31.1, 31.2) and **Inline XBRL data files** (101.INS, 101.SCH, 104)[145](index=145&type=chunk)

[Report Overview](index=1&type=section&id=Report%20Overview) Corbus Pharmaceuticals reported Q2 2025 financial results and corporate updates, with CEO Yuval Cohen highlighting anticipated data readouts for all three clinical programs in H2 2025 [Introduction and CEO Commentary](index=1&type=section&id=Introduction%20and%20CEO%20Commentary) Corbus Pharmaceuticals reported its Q2 2025 financial results and provided a corporate update, with CEO Yuval Cohen highlighting the second half of 2025 as impactful due to anticipated data readouts for all three clinical programs - Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a clinical stage oncology and obesity company[1](index=1&type=chunk) - The **second half of 2025** is expected to be impactful with scheduled data readouts for **all three clinical programs** (CRB-701, CRB-913, CRB-601)[2](index=2&type=chunk)[5](index=5&type=chunk) - Strong enrollment in the CRB-701 study and upcoming Phase 1/2 dose expansion data presentation at ESMO in October, including data from **over 100 participants**[2](index=2&type=chunk) - SAD/MAD data for obesity drug CRB-913 expected **later this year**, with a Phase 1b dose-range finding study to initiate in **Q4 2025**[2](index=2&type=chunk) [Key Corporate and Program Updates](index=1&type=section&id=Key%20Corporate%20and%20Program%20Updates) This section details the progress of Corbus's clinical programs, including CRB-701, CRB-913, and CRB-601, with upcoming data readouts and regulatory designations [CRB-701 (Nectin-4 ADC)](index=1&type=section&id=CRB-701%20%28Nectin-4%20ADC%29) CRB-701, a next-generation Nectin-4 targeting antibody-drug conjugate (ADC) for solid tumors, is undergoing dose optimization in its Phase 1/2 study. Key data will be presented at ESMO 2025, and it has received FDA Fast Track designation for metastatic cervical cancer - CRB-701 is a next-generation antibody drug conjugate (ADC) targeting Nectin-4 for the treatment of solid tumors[3](index=3&type=chunk)[10](index=10&type=chunk) - Phase 1/2 dose expansion data will be presented at the European Society for Medical Oncology (ESMO) Congress on **October 19, 2025**[5](index=5&type=chunk)[6](index=6&type=chunk) - The U.S. FDA has granted **Fast Track designation** to CRB-701 for the treatment of relapsed or refractory metastatic cervical cancer[6](index=6&type=chunk) - Dose optimization in the Phase 1/2 study is ongoing, with dosing at **2.7 mg/kg and 3.6 mg/kg** in HNSCC, cervical, and urothelial tumors[6](index=6&type=chunk) - The **first participant** in the combination arm of the study was dosed with pembrolizumab in **June 2025**[6](index=6&type=chunk) [CRB-913 (Obesity Drug)](index=1&type=section&id=CRB-913%20%28Obesity%20Drug%29) CRB-913, a highly peripherally restricted CB1 receptor inverse agonist for obesity, initiated the multiple ascending dose (MAD) portion of its Phase 1 trial in June 2025. Pre-clinical data demonstrates significantly reduced brain penetration compared to previous drugs, with no treatment-related neuropsychiatric events observed to date - CRB-913 is a second-generation, highly peripherally restricted, oral small molecule CB1 receptor inverse agonist designed for the treatment of obesity[4](index=4&type=chunk)[10](index=10&type=chunk) - The Company initiated the multiple ascending dose (MAD) portion of the Phase 1 trial in **June 2025**, following safety and pharmacokinetics data analysis of the single ascending dose (SAD) portion[4](index=4&type=chunk)[5](index=5&type=chunk) - **No treatment-related neuropsychiatric events** have been seen to date in the SAD portion of the study[7](index=7&type=chunk) - Pre-clinical data shows CRB-913 is markedly more peripherally restricted, with a brain to plasma ratio **50-times lower than rimonabant** and **15-times more peripherally restricted than monlunabant**[7](index=7&type=chunk) - SAD/MAD data is expected **later this year**, and the initiation of a Phase 1b dose-range finding study in obese non-diabetic individuals is on track for **Q4 2025**[7](index=7&type=chunk) [CRB-601 (Anti-αvβ8 Integrin mAB)](index=2&type=section&id=CRB-601%20%28Anti-%CE%B1v%CE%B28%20Integrin%20mAB%29) CRB-601, a potent and selective anti-αvβ8 integrin monoclonal antibody designed to block TGFβ activation in the tumor micro-environment, dosed its first participant in December 2024 in a Phase 1 study. Dose escalation data is anticipated in Q4 2025 - CRB-601 is a potent and selective anti-αvβ8 integrin monoclonal antibody (mAB) designed to block the activation of latent TGFβ in the tumor micro-environment to treat solid tumors[7](index=7&type=chunk)[10](index=10&type=chunk) - The **first participant** was dosed in **December 2024** in the dose escalation monotherapy portion of a Phase 1 study[7](index=7&type=chunk) - The Company is on track to report dose escalation data in **Q4 2025**[7](index=7&type=chunk) [Financial Results for the Quarter Ended June 30, 2025](index=2&type=section&id=Financial%20Results%20for%20the%20Quarter%20Ended%20June%2030%2C%202025) Corbus Pharmaceuticals reported its Q2 2025 financial performance, including a net loss increase and details on liquidity and capital resources [Summary of Financial Performance](index=2&type=section&id=Summary%20of%20Financial%20Performance) Corbus reported a net loss of $17.7 million for Q2 2025, an increase from $10.0 million in Q2 2024, primarily driven by a significant rise in clinical development expenses - Net loss for the three months ended June 30, 2025, was approximately **$17.7 million**, or **$1.44 per basic and diluted share**[8](index=8&type=chunk) - This compares to a net loss of **$10.0 million**, or **$0.90 per basic and diluted share**, for the three months ended June 30, 2024[8](index=8&type=chunk) - Operating expenses **increased by $8.2 million** to approximately **$19.2 million** for Q2 2025, up from **$11.0 million** in Q2 2024, primarily due to increased clinical development expenses[9](index=9&type=chunk) Key Financial Performance (Three Months Ended June 30) | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | Change (YoY) | | :----------------------- | :--------------------- | :--------------------- | :----------- | | Net Loss | $(17,662) | $(9,997) | $(7,665) | | Net Loss per Share | $(1.44) | $(0.90) | $(0.54) | | Total Operating Expenses | $19,152 | $10,988 | $8,164 | | Research and development | $15,187 | $6,865 | $8,322 | | General and administrative | $3,965 | $4,123 | $(158) | [Liquidity and Capital Resources](index=2&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, Corbus held $116.6 million in cash, cash equivalents, and investments, which is anticipated to fund operations through Q2 2027 - As of June 30, 2025, the Company had **$116.6 million** of cash, cash equivalents, and investment on hand[9](index=9&type=chunk) - This capital is expected to fund operations through **Q2 2027** based on planned expenditures[9](index=9&type=chunk) [About Corbus Pharmaceuticals](index=2&type=section&id=About%20Corbus%20Pharmaceuticals) Corbus Pharmaceuticals is a clinical-stage oncology and obesity company dedicated to addressing serious illnesses through innovative scientific approaches. Its pipeline includes CRB-701, CRB-601, and CRB-913 - Corbus Pharmaceuticals Holdings, Inc. is a clinical stage oncology and obesity company[10](index=10&type=chunk) - The company is committed to helping people defeat serious illness by bringing innovative scientific approaches to well-understood biological pathways[10](index=10&type=chunk) - Corbus' pipeline includes CRB-701 (Nectin-4 ADC), CRB-601 (anti-integrin monoclonal antibody), and CRB-913 (peripherally restricted CB1 receptor inverse agonist)[10](index=10&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements regarding the Company's clinical trials, product development, regulatory timelines, market opportunities, and future financial performance. These statements are based on current expectations and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially - The press release contains forward-looking statements as defined by **Section 27A of the Securities Act of 1933** and **Section 21E of the Securities Exchange Act of 1934**[11](index=11&type=chunk) - These statements relate to future events or financial performance and involve known and unknown risks, uncertainties, and other factors[12](index=12&type=chunk) - Prospective investors are cautioned not to place undue reliance on such statements, and the Company undertakes no obligation to publicly update them[12](index=12&type=chunk) [Investor Contact](index=3&type=section&id=Investor%20Contact) The document provides contact information for investor inquiries, including Corbus' Chief Financial Officer and LifeSci Advisors. It also includes a standard disclaimer regarding trademarks - Investor contact information is provided for Sean Moran, Chief Financial Officer of Corbus Pharmaceuticals, and Dan Ferry, Managing Director at LifeSci Advisors, LLC[14](index=14&type=chunk) - All product names, logos, brands, and company names mentioned are trademarks or registered trademarks of their respective owners[13](index=13&type=chunk) [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated statements of operations, comprehensive loss, and balance sheets for specified periods [Statements of Operations and Comprehensive Loss](index=4&type=section&id=Statements%20of%20Operations%20and%20Comprehensive%20Loss) The unaudited condensed consolidated statements of operations and comprehensive loss detail the financial performance for the three and six months ended June 30, 2025, and 2024, showing increased net losses and operating expenses year-over-year Condensed Consolidated Statements of Operations and Comprehensive Loss (Three Months Ended June 30, in thousands, except per share amounts) | Metric | 2025 | 2024 | | :------------------------------------------ | :--- | :--- | | Research and development | $15,187 | $6,865 | | General and administrative | $3,965 | $4,123 | | **Total operating expenses** | **$19,152** | **$10,988** | | Operating loss | $(19,152) | $(10,988) | | Interest and investment income, net | $1,314 | $1,600 | | Interest expense | — | $(652) | | Other income, net | $176 | $43 | | **Total other income, net** | **$1,490** | **$991** | | **Net loss** | **$(17,662)** | **$(9,997)** | | Net loss per share, basic and diluted | $(1.44) | $(0.90) | | Weighted average common shares outstanding | 12,240,443 | 11,053,241 | | Total comprehensive loss | $(17,678) | $(10,056) | Condensed Consolidated Statements of Operations and Comprehensive Loss (Six Months Ended June 30, in thousands, except per share amounts) | Metric | 2025 | 2024 | | :------------------------------------------ | :--- | :--- | | Research and development | $30,829 | $12,627 | | General and administrative | $8,098 | $7,984 | | **Total operating expenses** | **$38,927** | **$20,611** | | Operating loss | $(38,927) | $(20,611) | | Interest and investment income, net | $2,995 | $2,628 | | Interest expense | — | $(1,491) | | Other income, net | $1,292 | $2,578 | | **Total other income, net** | **$4,287** | **$3,715** | | **Net loss** | **$(34,640)** | **$(16,896)** | | Net loss per share, basic and diluted | $(2.83) | $(1.75) | | Weighted average common shares outstanding | 12,221,373 | 9,681,875 | | Total comprehensive loss | $(34,714) | $(17,283) | [Balance Sheets](index=5&type=section&id=Balance%20Sheets) The unaudited condensed consolidated balance sheets present the Company's financial position as of June 30, 2025, compared to December 31, 2024, showing a decrease in total assets and stockholders' equity Condensed Consolidated Balance Sheets (in thousands) | ASSETS | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Cash and cash equivalents | $20,044 | $17,198 | | Investments | $96,548 | $131,864 | | Restricted cash | $285 | $285 | | Prepaid expenses and other current assets | $5,948 | $3,629 | | **Total current assets** | **$122,825** | **$152,976** | | Restricted cash (non-current) | $385 | $385 | | Property and equipment, net | $251 | $385 | | Operating lease right-of-use assets | $1,624 | $2,133 | | **Total assets** | **$125,085** | **$155,879** | | LIABILITIES AND STOCKHOLDERS' EQUITY | | | | Accounts payable | $3,988 | $4,786 | | Accrued expenses | $7,650 | $5,426 | | Operating lease liabilities, current | $1,695 | $1,606 | | **Total current liabilities** | **$13,333** | **$11,818** | | Operating lease liabilities, noncurrent | $761 | $1,633 | | **Total liabilities** | **$14,094** | **$13,451** | | Common stock | $1 | $1 | | Additional paid-in capital | $622,562 | $619,285 | | Accumulated deficit | $(511,533) | $(476,893) | | Accumulated other comprehensive (loss) gain | $(39) | $35 | | **Total stockholders' equity** | **$110,991** | **$142,428** | | **Total liabilities and stockholders' equity** | **$125,085** | **$155,879** |

Core Insights - Corbus Pharmaceuticals Holdings, Inc. is focused on advancing its clinical programs in oncology and obesity, with significant data readouts expected in the second half of 2025 [2][7]. Corporate and Program Updates - The company is progressing with three clinical programs: CRB-701, CRB-913, and CRB-601, all of which are on track for data readouts in the latter half of 2025 [7]. - CRB-701 is a next-generation antibody drug conjugate targeting Nectin-4, with a precise drug antibody ratio of 2 and utilizing monomethyl auristatin E (MMAE) as the payload [3]. - CRB-913 is designed as a peripherally restricted oral small molecule CB1 receptor inverse agonist for obesity treatment, aiming to minimize neuropsychiatric risks associated with previous drugs in this class [4]. - CRB-601 is an anti-αvβ8 integrin monoclonal antibody targeting TGFβ activation in the tumor microenvironment, with dose escalation data expected in Q4 2025 [5]. Financial Results - For the quarter ended June 30, 2025, the company reported a net loss of approximately $17.7 million, compared to a net loss of $10.0 million for the same period in 2024 [9]. - Operating expenses increased by $8.2 million to approximately $19.2 million, primarily due to higher clinical development costs [10]. - As of June 30, 2025, the company had $116.6 million in cash and investments, sufficient to fund operations through Q2 2027 based on planned expenditures [10].

Core Insights - Corbus Pharmaceuticals Holdings Inc. announced that an abstract on updated clinical data for CRB-701 has been accepted for presentation at the ESMO Congress 2025 in Berlin, scheduled for October 17-21, 2025 [1][2] Company Overview - Corbus Pharmaceuticals is a clinical-stage company focused on oncology and obesity, aiming to develop innovative scientific approaches to combat serious illnesses [5] - The company's pipeline includes CRB-701, an antibody-drug conjugate targeting Nectin-4, CRB-601, an anti-integrin monoclonal antibody, and CRB-913, a CB1 receptor inverse agonist for obesity treatment [5] Clinical Study Details - The Phase 1/2 study (NCT06265727) of CRB-701 is evaluating safety, pharmacokinetics, and efficacy in patients with advanced solid tumors expressing high levels of Nectin-4 [3] - The study consists of three parts: Part A (dose escalation), Part B (dose optimization), and Part C (dose expansion), with ongoing dose optimization at 2.7 mg/kg and 3.6 mg/kg cohorts [3] - The company expects to complete dose optimization and identify a recommended Phase 2 dose by Q4 2025 [3] Product Information - CRB-701 is a next-generation antibody-drug conjugate that targets Nectin-4, utilizing a site-specific, cleavable linker and a drug antibody ratio of 2, with MMAE as the cytotoxic payload [4] - Nectin-4 is recognized as a clinically validated tumor-associated antigen in urothelial cancer [4]

CRB-701 (Nectin-4 Targeting ADC) - Clinical data readouts are expected for CRB-701 in the second half of 2025, with complete dose optimization and RP2D determination expected in Q4 2025[5] - CRB-701 is designed to address unmet needs of PADCEV® by extending ADC half-life to reduce dosing frequency and enabling higher doses due to lower DAR and longer half-life[10] - Phase 1 dose escalation studies are ongoing, with continued expansion at 2 doses and dose optimization planned for HNSCC, cervical, and bladder tumors[17, 18] - In Phase 1 dose escalation studies, ocular toxicity was reduced from 66% in CSPC cohorts to 38% in Corbus cohorts through the use of prophylaxis and baseline selection[32] - Emerging combined safety profile of CRB-701 shows a Grade 3 or higher AE rate of 20% (n=15/75), compared to 58% for PADCEV® (n=179 of 310)[33] - Phase 1 data shows an ORR of 27% and DCR of 77% in Corbus patients (n=26), and an ORR of 28% and DCR of 68% in CSPC patients (n=25)[38] - In mUC patients, CRB-701 showed an ORR of 44% (4 out of 9) and a DCR of 78% (7 out of 9)[48] - In cervical cancer patients, CRB-701 showed an ORR of 43% (3 out of 7) and a DCR of 86% (6 out of 7)[52] - In HNSCC patients, CRB-701 showed an ORR of 4 out of 7 patients and a DCR of 6 out of 7 patients[57] Financials - As of March 31, 2025, the company had $133 million in cash, cash equivalents, and investments, with approximately 122 million common shares outstanding (~140 million fully-diluted shares)[5]

Core Insights - Corbus Pharmaceuticals has initiated the multiple ascending dose (MAD) portion of its Phase 1 trial for CRB-913, a peripherally restricted CB1 inverse agonist aimed at treating obesity, following the single ascending dose (SAD) study [2][4] - The MAD study is designed to assess the safety, tolerability, and pharmacokinetics of CRB-913 with a once-daily dosing regimen over 7 days in healthy volunteers [3][4] - Preliminary data from the SAD study indicates no treatment-related neuropsychiatric events, even at higher doses than expected for efficacy [4][5] Company Overview - Corbus Pharmaceuticals is a clinical-stage company focused on oncology and obesity, with a pipeline that includes CRB-701, CRB-601, and CRB-913 [6] - CRB-913 is characterized as an oral small molecule inverse agonist of the CB1 receptor, designed to minimize brain penetration and reduce the risk of neuropsychiatric side effects compared to previous drugs in this class [5][6] - The company is headquartered in Norwood, Massachusetts, and aims to leverage innovative scientific approaches to address serious illnesses [6]