Corbus Pharmaceuticals(CRBP) - 2024 Q3 - Quarterly Results

Financial Performance - Corbus Pharmaceuticals reported a net loss of approximately $13.8 million, or$1.15 per diluted share, for Q3 2024, compared to a net loss of approximately $10.1 million, or$2.27 per diluted share for the same period in 2023[9]. - The total operating loss for Q3 2024 was approximately $15.5 million, compared to$9.5 million in the same period in 2023[10]. - The total stockholders' equity increased to $150.5 million as of September 30, 2024, compared to a deficit of$6.9 million at the end of 2023[20]. Operating Expenses - Operating expenses increased by $6.0 million to approximately$15.5 million for Q3 2024, primarily due to a $3.2 million increase in CRB-701 clinical trial costs and higher compensation costs of$1.6 million[10]. Clinical Trials and Data - The company completed enrollment of the dose escalation part of the Phase 1 clinical trial of CRB-701, with first data expected in Q1 2025, showing a 44% overall response rate (ORR) in metastatic urothelial cancer and 43% in cervical cancer at doses ≥ 1.2 mg/Kg[4]. - CRB-913 pre-clinical data presented at Obesity Week 2024 indicated a dose-response achieving up to 38% weight loss in diet-induced obesity mice, with levels in the brain being 15-fold lower than monlunabant[6]. - The company presented promising efficacy and safety data for CRB-701 at ASCO 2024, indicating the drug is clinically active with a differentiated safety profile[2]. - CRB-601, a monoclonal antibody, is expected to dose the first patient in Q4 2024 for the treatment of advanced solid tumors[8]. Cash and Funding - As of September 30, 2024, the company had $159.4 million in cash, cash equivalents, and investments, expected to fund operations through Q3 2027[11]. - The company raised$35.6 million in net proceeds during Q3 2024 through its ATM program by issuing 663,730 shares[11].