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Corbus Pharmaceuticals Reports First Quarter Financial Results and Corporate Updates
Topline results for lenabasum Phase 3 RESOLVE-1 study in systemic sclerosis remain on schedule for summer of 2020, followed by Phase 2b study data in cystic
About this update from Corbus Pharmaceuticals Holdings, Inc.
[{"type":"text","content":"Topline results for lenabasum Phase 3 RESOLVE-1 study in systemic sclerosis remain on schedule for summer of 2020, followed by Phase 2b study data in cystic fibrosis Phase 1 trial of CRB-4001 remains on track to initiate in third quarter of 2020Recent appointment of Dr. Pete Salzmann to Board of DirectorsImplemented COVID-19 mitigation and monitoring plan to ensure patient safety, data integrity and completion of key clinical studiesCompany to host conference call and webcast today, May 11, 2020 at 8:30 a.m. ET Norwood, MA, May 11, 2020 (GLOBE NEWSWIRE) -- Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (“Corbus” or the “Company”), a clinical-stage drug development company pioneering transformative medicines that target the endocannabinoid system, today reported financial results for the first quarter of 2020. The Company also provided clinical and corporate updates.\n “We had a busy first quarter as we implemented a comprehensive mitigation and monitoring COVID-19 plan to help ensure the integrity of our clinical programs. As a result of this plan, we are reiterating that we continue to expect topline data for RESOLVE-1 this summer, followed by our Phase 2b study results in cystic fibrosis,” said Yuval Cohen, Ph.D, Chief Executive Officer. “We are grateful to the patients, physicians, site staff and our own employees who remain committed to these studies and for the significant additional effort that they provided to overcome this unique challenge. Our other programs remain on track, with focused emphasis on preparations for potential lenabasum NDA submission, FDA approval and commercial launch. Lastly, our organization is functioning well with remote working practices.” Recent Corporate Highlights and Achievements: Implemented COVID-19 mitigation plan to ensure safety of employees and adequate oversight of safety of subjects in ongoing studies while maintaining data integrity in our studies. In February, raised $46 million in gross proceeds from a public offering of 7,666,667 shares of common stock, priced at $6.00 per share, including 1,000,000 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. In March, announced the appointment of Pete Salzmann, M.D., MBA, to the Board of Directors. Dr. Salzmann brings 20 years of industry experience with a track record of successfully ...