Corbus Pharmaceuticals (NasdaqCM:CRBP) FY Conference February 25, 2026 03:20 PM ET Speaker0Afternoon, everyone, welcome back to Oppenheimer's 36th Annual Healthcare Conference. I'm Jeff Jones, one of the biotech analysts on the team here, I'm delighted to welcome Yuval Cohen, CEO of Corbus Pharmaceuticals. Well, I can talk. Good afternoon, Yuval. How are you?Speaker1Hello, Jeff. How are you?Speaker0Good. Thank you for joining us today. It's, you know, a great way to kick off an exciting 2026 for you guys.Sp ...

Summary of Corbus Pharmaceuticals Holdings Conference Call Company Overview - Corbus Pharmaceuticals is a small biotech company based in Norwood, Massachusetts, with approximately 40 employees - The company has a diverse pipeline with two main assets: a Nectin-4 ADC targeting solid tumors (head and neck and cervical cancers) and a small molecule oral CB1 inverse agonist targeting obesity [3][4] Oncology Asset Development - The Nectin-4 ADC is developed in partnership with CSPC, the third largest pharmaceutical company in China - The development programs for the ADC are independent, with separate data sets for U.S./European and Chinese sites [4][5] - Recent data presented at ISMO showed a 48% overall response rate (ORR) at 3.6 mg/kg and 33% at 2.7 mg/kg for head and neck and cervical cancers [7][10] Efficacy and Safety - The company is optimistic about the durability of responses, with data expected to mature by mid-next year [10][11] - Safety profile shows low rates of peripheral neuropathy, a significant advantage over competitors like Padcev, which has higher rates of this adverse effect [12][13] - Ocular toxicity remains a concern, with a noted 44% incidence in Padcev, while Corbus's ADC has a manageable profile [14][15] Market Opportunity - The second-line treatment space for head and neck cancer is currently limited, with an ORR of about 10% or lower, making Corbus's asset attractive [20][21] - The U.S. second-line therapy market for head and neck cancer is estimated at around 24,000 patients, potentially increasing to 36,000 due to improved survival rates from front-line therapies [21][22] Competitive Landscape - Other ADCs in the second-line space are limited, with Pfizer's attempts not progressing [22] - Corbus's Nectin-4 ADC is positioned well due to its unique safety profile, making it less likely for competitors to enter the same market segment [22][23] Obesity Asset Development - The CB1 inverse agonist is currently in SAD (Single Ascending Dose) and MAD (Multiple Ascending Dose) studies, with data expected before the end of the year [34][35] - The upcoming 90-day study in obese non-diabetic patients aims to assess safety and weight loss efficacy [35][36] - Historical data from Rimonabant suggests that CB1 inverse agonists can lead to significant weight loss, although the exact efficacy of Corbus's asset remains to be determined [36][38] Financial Position and Future Catalysts - Corbus has approximately $180 million in cash, which supports ongoing and upcoming studies [53] - Key data catalysts for the next year include results from the 701 program and the 90-day dose range finding study for the 913 asset [53][54] Conclusion - Corbus Pharmaceuticals is strategically positioned in the oncology and obesity markets with promising assets and a solid financial foundation, making it an interesting prospect for investors looking for opportunities in biotech [53][54]

Summary of Corbus Pharmaceuticals Holdings FY Conference Call Company Overview - **Company**: Corbus Pharmaceuticals Holdings (NasdaqCM:CRBP) - **Location**: Norwood, Massachusetts - **Size**: Under 40 employees - **Pipeline**: Three assets - two in oncology and one in obesity [5][6] Key Pipeline Programs 1. CRB-701 (Nectin-four ADC) - **Mechanism**: Antibody-drug conjugate (ADC) targeting Nectin-four with MMAE as payload - **Differentiation**: Utilizes site-specific conjugation with a precise drug-to-antibody ratio (DAR) of 2, and a stable linker, reducing collateral damage compared to PADCEV [7][8][9] - **Clinical Data**: - Lower rates of peripheral neuropathy and skin toxicity compared to PADCEV - Emerging clinical efficacy shows promising results with overall response rates (ORR) of 33% and 47% in head and neck cancer, compared to PADCEV's 23% [11][15][16] - **Safety Profile**: Ocular toxicity is manageable and does not lead to treatment discontinuation [21][22] - **Next Steps**: A pivotal study is planned for mid-next year, aiming for a controlled study against physician's choice therapies [31][32] 2. CRB-913 (Obesity Treatment) - **Mechanism**: CB1 inverse agonist, designed to avoid neuropsychiatric adverse events by being peripherally restricted [42][45] - **Clinical Data**: Initial studies show promising weight loss results; a 90-day study in obese non-diabetics is set to start soon [50][51] - **Next Steps**: Results from the first clinical data expected before the end of the year, followed by a more extensive study [48][50] 3. CRB-601 (Solid Tumor Program) - **Mechanism**: TGF beta play, currently in dose escalation - **Uncertainty**: High-risk, high-reward potential; awaiting data from a similar drug by Pfizer [52][53] Financial Overview - **Cash Position**: Just under $180 million, providing runway into late 2028 [55] - **Funding**: Recent fundraising completed, ensuring financial stability for upcoming studies [56] Regulatory and Market Positioning - **FDA Fast Track Designation**: Received for CRB-701, facilitating expedited development [36] - **Market Opportunity**: Positioned in a favorable landscape for head and neck cancer treatments, especially as existing therapies are limited [18][35] Conclusion - **Focus**: The primary focus is on advancing CRB-701 through pivotal studies, with significant milestones expected in 2026 [56][58] - **Outlook**: The company is optimistic about the upcoming clinical data and market positioning, particularly in oncology and obesity treatment sectors [59]