Corbus Pharmaceuticals Holdings, Inc. (CRBP) is an innovative biopharmaceutical company engaged in the development of novel medicines for treating metabolism, inflammation, fibrosis, and cancer immunology. One of the leading product candidates of the company is lenabasum which is a cannabinoid receptor in Phase 3 clinical trials for the treatment of dermatomyositis and in Phase 2 clinical trials for treating several metabolic disorders including diabetic neuropathy and retinopathy, obesity and nonalcoholic steatohepatitis. Another product candidate of the company is CB2 used in treating cancers.
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The price of CRBP stock during the regular trading on January 12, 2022, was $0.53 with a significant decline of 6.95%. At last check in the aftermarket, the stock was up by 3.02%.
CRBP: Events and Happenings
On January, 12, 2022 JTC Team reported that CRBP’s Executive Management will participate in the forthcoming Virtual Investor 2022 Top Picks Conference which is being hosted by JTC, which will be held on January 25-27, 2022. On December 7, 2021, CRBP reported that Rachael Brake was appointed as the Chief Scientific Officer of the company.
CRBP: Key Financials
On November 12, 2021, CRBP announced its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows
Revenue
Revenue generated was $0.09 million for the three months ended September 30, 2021 against $1.23 million for the comparable period of 2020.
Total Current Assets
Total current assets of the company for third quarter 2021 were $111.6 million
Net Loss per Share
Basic and diluted net loss for third quarter of 2021 was $2.2 million, or $0.02 per share, as compared to the same period in 2020 when it was $34.9 million or $0.43 per share.
On November 11, 2021, CRBP reported that the company’s Executives presented at the Virtual Jefferies London Healthcare Conference held on November 16-19, 2021. On October 21, 2021, CRBP reported to appoint Rachelle Jacques to its Board of Directors Audit Committee.
Conclusion
CRBP stock dipped more than 66% from the past six months primarily due to the restrictions put by the pandemic on the economic uplift of the industry. The company gained momentum in the current aftermarket after the press release came out regarding its presence at the virtual top-picks conference. The analysts are pointing that the company should add new innovative products to its already defined product line so as to involve the interest of the potential investors.
