Business
Corbus Pharmaceuticals Reports Third Quarter 2021 Financial Results and Provides Corporate Updates
- Company continues to advance integrin program from preclinical development toward the clinic - Expanding pipeline through strategic transactions remains key
About this update from Corbus Pharmaceuticals Holdings, Inc.
[{"type":"text","content":"- Company continues to advance integrin program from preclinical development toward the clinic\n - Expanding pipeline through strategic transactions remains key priority\n - Cash and investments on hand of $108 million sufficient to support execution of research, clinical and operational goals into the first quarter of 2024\n\n\nNORWOOD, Mass., Nov. 12, 2021 /PRNewswire/ -- Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (\"Corbus\" or the \"Company\"), an immunology company, today provided corporate updates and reported financial results for the third quarter of 2021. \n\n \n \n \n \n \n \n\n \nKey Programs' Updates:\nAnti-integrin monoclonal antibody (mAb) program targeting solid tumors continues to advance toward the clinic with first patient dosed anticipated in first half of 2023 following filing of an IND. The solid tumor program is focused on inhibiting αvβ8-activation of diffusible and non-diffusible TGFβ, a multifunctional cytokine which mediates immune evasion and plays a key role in promoting cancer growth and metastasis via its immunosuppressive effects in the tumor microenvironment (TME). Lenabasum: Topline data from the National Institutes of Health-sponsored Phase 2 study of lenabasum in systemic lupus erythematosus is on track and expected in Q4 2021. The Company is also working on gaining clarity from the FDA on the potential path forward in the dermatomyositis program. Cannabinoid receptor type 1 (CB1) small molecule program is progressing through preclinical studies and regulatory pathway evaluation. Corbus' CB1 inverse agonists are in development for treatment of obesity and related metabolic diseases. In animal models of diet-induced obesity, Corbus compounds induce weight loss both as a monotherapy and in combination with a GLP-1 agonist.Yuval Cohen, Ph.D., Chief Executive Officer said, \"The third quarter was productive for Corbus as we advanced our lead programs toward the clinic. It is exciting to see the developments in integrin biology and begin to appreciate the potential impact of our program. We have the operating capabilities in place and are in a strong financial position to execute our strategy to progress our diversified pipeline.\"\nThe Company is continuing to explore development pathways for its cannabinoid receptor type 2 (CB2) program targeting cancer and anti-integrin mAb program targ...