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Corbus Pharmaceuticals Reports Fourth Quarter and Year-End 2023 Financial Results and Provides Corporate Update
Encouraging CRB-701 (SYS6002) First-in-Human Data Presented at ASCO-GU 2024; first patient expected to be dosed in US Ph1 study by end of March 2024 IND
About this update from Corbus Pharmaceuticals Holdings, Inc.
[{"type":"text","content":"Encouraging CRB-701 (SYS6002) First-in-Human Data Presented at ASCO-GU 2024; first patient expected to be dosed in US Ph1 study by end of March 2024 IND Application for CRB-601 cleared; Ph1 study on track to commence in Summer of 2024Pre-clinical data for CRB-913 presented at Obesity Week; IND filing on track by the end of 2024$127M of cash & investments at February 2, 2024; 3+ years of projected runway through Q1 2027Appointed Dr. Dominic Smethurst as Chief Medical Officer NORWOOD, Mass., March 12, 2024 (GLOBE NEWSWIRE) -- Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (“Corbus” or the “Company”), a precision oncology company with a diversified portfolio, today provided a corporate update and reported financial results for the fourth quarter of 2023 and year-ended 2023. “In 2023 we made significant progress in advancing our pipeline to meaningful milestones. These efforts culminated in us strengthening our balance sheet by raising $116 million of capital in 2024 providing us with a projected runway of over 3 years,” said Yuval Cohen, Ph.D., Chief Executive Officer of Corbus. “The first-in-human CRB-701 dose-escalation data from our development partner, CSPC, was presented at ASCO-GU in January 2024 demonstrating a differentiated safety and PK profile compared to enfortumab vedotin, as well as an emerging efficacy signal in bladder and cervical cancer patients who are Nectin-4 positive. We expect to dose the first patient in our US Ph1 study in March 2024. For CRB-601, the FDA cleared our Investigational New Drug (“IND”) application in January 2024, and we expect to dose the first patient this summer. Finally, for CRB-913, we presented promising pre-clinical data at Obesity Week in October 2023 and are on track to file an IND by the end of 2024,” concluded Dr. Cohen. Key Corporate and Program Updates: CRB-701 - a Nectin-4 ADCCRB-701 (SYS6002) is a next-generation antibody drug conjugate (“ADC”) targeting Nectin-4 that contains a site-specific, cleavable linker and a homogenous drug antibody ratio of 2 using MMAE as the payload. Nectin-4 is a clinically validated, tumor-associated antigen in urothelial cancer. Encouraging safety and efficacy data from the Ph1 dose-escalation study in China for patients with Nectin-4 positive tumors was presented in January 2024 by CSPC at the 2024 American Society of Clinical Oncology Genit...