Corbus Pharmaceuticals(CRBP)2025-03-11 12:30Financial Performance - Corbus Pharmaceuticals reported a net loss of approximately 8.0 million in Q4 2023, representing a 18.75% increase in losses year-over-year[10] - For the full year 2024, the net loss was approximately 44.6 million in 2023, indicating a 9.8% improvement[10] - Total operating expenses for the year ended December 31, 2024, were approximately 45.1 million in 2023, reflecting a 5.9% increase[20] Operating Expenses - Operating expenses for Q4 2024 increased by 12.6 million, primarily due to product development and stock-based compensation costs[11] - The weighted average number of common shares outstanding increased to 12,179,482 in 2024 from 4,423,683 in 2023, indicating a significant increase in share issuance[20] Cash and Investments - As of December 31, 2024, the company had $149 million in cash and investments, which is expected to fund operations through Q3 2027[6] Product Development - CRB-701 received Fast Track designation from the FDA for the treatment of relapsed or refractory metastatic cervical cancer, with dose optimization expected to be completed by Q4 2025[7] - The Phase 1 study for CRB-601 commenced in December 2024, with expectations to complete dose escalation by Q4 2025[9] - CRB-913, a new obesity treatment, is set to begin its first human dosing in March 2025, with a Phase 1 dose-range finding study expected to start in Q4 2025[14] - The company presented pre-clinical data showing CRB-913 is significantly more peripherally restricted than existing treatments, with a brain to plasma ratio fifty times lower than rimonabant[14]