Corbus Pharmaceuticals Holdings, Inc. · NASDAQ:CRBP

Corbus Pharmaceuticals — Investor Presentation (May 2025)

55 slides from Corbus Pharmaceuticals's investor presentation, May 19, 2025

  1. Slide 1: Corporate Presentation

    Corporate Presentation May 19, 2025 Connecting Innovation to Purpose 1 NASDAQ: CRBP

  2. Slide 2: Forward-Looking Statements

    This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 Forward- and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company’s trial resu

  3. Slide 3: Clinical data readouts expected for all three drugs in 2nd half of 2025

    Clinical data readouts expected for all three drugs in 2nd half of 2025 CRB-701 Complete dose optimization and RP2D determination-Q42025 CRB-913 Complete SAD/MAD-Q3 2025 CRB-601 Complete dose escalation-Q4 2025 $133M Cash, cash equivalents and investments as of March 31, 2025. Approximately 12.2M Co

  4. Slide 4: A Diversified Pipeline with Differentiated Clinical Risk Profiles

    A Diversified Pipeline with Differentiated Clinical Risk Profiles Disease Therapy Sponsor Pre-Clinical Phase 1 Phase 2 Phase 3 Milestones Indication Next-Generation Nectin-4 targeting ADC CSPC Multiple Cohorts CRB-701 (China) Expanding Nectin-4 Next-generation positive Nectin-4 targeting solid tumor

  5. Slide 5: CRB-701

    CRB-701 Next Generation Nectin-4 Targeting ADC 5

  6. Slide 6: Designing a Nectin-4 ADC Intended to Address PADCEV Unmet Needs

    Designing a Nectin-4 ADC Intended to Address PADCEV® Unmet Needs Safety Nectin-4 targeting ADC for treatment of solid tumors Convenience Extend ADC half-life → Reduce dosing frequency Efficacy Lower DAR + longer half-life → Dose higher than PADCEV® 6

  7. Slide 7: CRB-701: Next Generation Nectin-4 Targeting ADC

    CRB-701: Next Generation Nectin-4 Targeting ADC An Improved ADC Construct Novel Nectin-4 Antibody • Precise & stable DAR of 2 —> Longer half life • Improved binding affinity & selectivity —> 2x rate of internalization vs. PADCEV® ADCC + CDC functionality • Improved linker stability —> Reduced free M

  8. Slide 8: CRB-701: Best-in-Class Dosing Regimen

    CRB-701: Best-in-Class Dosing Regimen Clinical Cycle Comparison CRB-701 Patient / Physician Convenience Combination Flexibility 8 Source(s): Corbus data on file; PADCEV® Prescribing Information as of Dec 2023

  9. Slide 9: Phase 1 Dose Escalation Studies: Trial Design

    Phase 1 Dose Escalation Studies: Trial Design 2025 KEY ELIGIBILITY Age ≥ 18 years Advanced urothelial carcinoma or Nectin- ESCALATION DESIGN ESCALATION DESIGN 4 positive Bayesian Optimal Interval (BOIN) design Bayesian Optimal Interval (BOIN) with accelerated titration at DL-1 IV Q3W design with acc

  10. Slide 10: Phase 1 Dose Escalation Studies: Key Characteristics

    Phase 1 Dose Escalation Studies: Key Characteristics Median age (range) 55 (35, 76) 62 (34, 90) CSPC tumor types (n=37) Corbus tumor types (n=38) Sex (M/F) 29.7%, 70.3% 42.1%, 57.9% Urothelial 13 Urothelial 4 ECOG PS 0,1, missing 8.1%, 89.2%, 2.7% 23.7%, 71.1%, 5.3%, 0% Cervical 15 Cervical 4 Weight

  11. Slide 11: Phase 1 Dose Escalation Studies: TEAEs

    Phase 1 Dose Escalation Studies: TEAEs Summary of TEAEs ≥20% (n=37) Summary of TEAEs ≥ 15 % (n=38) D Portion of patients (%) Portion of patients (%) Sources: CSPC data: ASCO 2024 11 Corbus data: ASCO GU 2025

  12. Slide 12: Phase 1 Dose Escalation Studies: Few Skin and PN Events

    Phase 1 Dose Escalation Studies: Few Skin and PN Events AE Grade N of 37 Notes AE Grade N of 38 Notes Skin rash 1 x Grade 1 3 (8.1%) All resolved Skin rash 4 x Grade 1 4 (10.5%) 1 x Grade 2 1 x Grade 3 Other skin AEs Pruritis (itchy skin) 5 x Grade 1 5 (13.2%) Blister 1 x Grade 1 2 (5.3%) 1 x Grade

  13. Slide 13: Phase 1 Dose Escalation Studies: Low Rates of Dose Modifications

    Phase 1 Dose Escalation Studies: Low Rates of Dose Modifications 1.25 mg/kg 1.8-4.5 mg/kg 1.8 mg/kg 2.7 mg/kg 3.6 mg/kg 4.5 mg/kg Dose Modification (n=300) (n=30) (n=13) (n=11) (n = 10) (n = 4) Discontinuation 55 (18.3%) 0 2 (15.4%) 0 2 (20%) 2 (50%) Reduction 98 (32.6%) 0 0 1 (9.1%) 1 (10%) 0 Inter

  14. Slide 14: Phase 1 Dose Escalation Studies: Ocular Toxicity is Manageable

    Phase 1 Dose Escalation Studies: Ocular Toxicity is Manageable 1.8 mg/kg 2.7 mg/kg 3.6 mg/kg 4.5 mg/kg 1.8 mg/kg 2.7 mg/kg 3.6 mg/kg 4.5 mg/kg N=3 N=10 N=14 N=3 N=13 N=11 N=10 N=4 Eye disorders (all) 2 (66.7%) 5 (50%) 11 (78.6%) 2 (66.7%) 7(53.8%) 5 (45.5%) 3 (30%) 3 (75%) Grade 1 2 (66.7%) 1 (10%)

  15. Slide 15: Favorable Emerging Combined Safety Profile vs. Nectin-4-MMAE Peers

    Favorable Emerging Combined Safety Profile vs. Nectin-4-MMAE Peers Limitation PADCEV BT8009 9MW-2821 CRB-701 Upper dose limit 1.25 mg/kg1 5 mg/m3 1.25 mg/kg4 No DLTs up to 4.5mg/kg5 Schedule D1, D8, D15 /28 days Q1W D1, D8, D15 /28 days Q3W ≥ Grade 3 AE rate 58% (n=179 of 310)2 53% (n=24/45)3 70%6 2

  16. Slide 16: PK Data: Lower levels of MMAE for CRB-701 vs. PADCEV

    PK Data: Lower levels of MMAE for CRB-701 vs. PADCEV ® Company 21-day PK Comparison % ADC % Free MMAE Cmax AUC0-21d Cmax AUC0-21d PADCEV PADCEV Benchmark 100% 100% 100% 100% 1.24 mg/kg Q1W x 3 Matched for MMAE dose 2.7 mg/kg Q3W 191% 251% 67% 56% (DAR) 2.9-fold PADCEV ADC 3.6 mg/kg Q3W 289% 405% 73%

  17. Slide 17: Phase 1 Dose Escalation Studies: Waterfall Plots

    Phase 1 Dose Escalation Studies: Waterfall Plots *confirmed response SD* HNSCC patent with a clinical PR coded to SD because the target lesion was occluded by invasive aspergillosis. Across all patients in ORR DCR PD* Cervical patient with tumor shrinkage of -64.42% and overall assessment of PD is o

  18. Slide 18: Phase 1 Dose Escalation Studies: Swimmer Plots

    Phase 1 Dose Escalation Studies: Swimmer Plots Sources: CSPC data: ASCO 2024 Corbus data: ASCO GU 2025, N=37, Data were unavailable for one patient (Infusion only no duration data). Best overall response is indicated at the end of each bar. Bold text indicates confirmed responses, all other response

  19. Slide 19: Phase 1 Dose Escalation Studies: mUC

    Phase 1 Dose Escalation Studies: mUC Pre-treated with Response Dose (mg/kg) Nectin-4 H score PADCEV® % Change by RECIST criteria PD* (n.a) 1.8 Insufficient tissue Yes PD (+28.18%) 1.8 260 Yes SD (+1.27%) 1.8 295 Yes cPR (-74.19%) 1.8 210 No Dose 3.6 3.6 2.7 3.6 4.5 3.6 2.7 3.6 1.2 mg/Kg Nectin-4 205

  20. Slide 20: Phase 1 Dose Escalation Studies: Cervical cancer

    Phase 1 Dose Escalation Studies: Cervical cancer Nectin-4 H Response Dose (mg/kg) Notes score % Change by RECIST criteria Ongoing treatment with PD (-61.42%) 1.8 205 radiotherapy to a new lesion uCR (-100%) 2.7 20 Treatment ongoing Dose mg/Kg 3.6 3.6 3.6 1.8 3.6 3.6 3.6 Nectin-4 H score 80 110 265 6

  21. Slide 21: Corbus Phase 1 Dose Escalation Study: HNSCC Emerges As New Target

    Corbus Phase 1 Dose Escalation Study: HNSCC Emerges As New Target 0 SD 0 Drug (HNSCC data) Company ORR DCR -10 PADCEV 1 Pfizer 11/45 (23.9%) 56.5% -20 Keytruda2 Merck 18% (2nd line) n.a. % Change by Petosemptamab3 Merus 27/75 (36% ) 48/75 -30 Ph2 monotherapy (2nd line ) (64%) RECIST criteria -31.43

  22. Slide 22: HNSCC Case Study: Clinical Improvement in Patient with Resistant Disease

    HNSCC Case Study: Clinical Improvement in Patient with Resistant Disease Prior therapies Carboplatin+docetaxel+5FU 3 weeks (PD) then Cisplatin 4 weeks (PD) then pembrolizumab 6 weeks (PD) then experimental bispecific antibody duration of Rx unknown (PD) 61-year-old male patient with HNSCC had 6-week

  23. Slide 23: Combined CSPC + Corbus Dataset for mUC + Cervical + HNSCC

    What Does a Combined CSPC + Corbus Dataset Look Like for mUC + Cervical + HNSCC? Cervical Urothelial HNSCC CSPC patients Corbus patients Dose mg/kg 3.6 1.8 3.6 3.6 1.8 3.6 1.8 0.6 3.6 0.6 2.7 0.2 3.6 0,6 1.8 4.5 2.7 2.6 1.8 3.6 2.7 3.6 3.6 3.6 3.6 3.6 1.8 1.2 1.8 1.8 27 Nectin-4 H score 80 30 205 0

  24. Slide 24: CRB-701 Corbus Study Design

    CRB-701 Corbus Study Design Project Optimus Dose escalation Dose expansion at RP2D (Dose optimization) Randomized to 2.7 or 3.6 4.5 mg/kg monotherapy in: mUC mg/kg o HNSCC o Cervical 3.6 Non-UC tumors: mg/kg o mUC A B 2.7 mg/kg Ongoing C Randomized to 2 doses of 1.8 CRB-701 + CPI Basket of nectin-4

  25. Slide 25: Best Responses Seen in Tumors with Highest Nectin-4 Expression

    Best Responses Seen in Tumors with Highest Nectin-4 Expression-mUC, Cervical & HNSCC 1 CRB-701 demonstrates better efficacy than EV in patient-derived tumor model expressing <---- Other highly expressing low levels of Nectin-4 2 tumors ----> Elevated Nectin-4 expression: urothelial, cervical, head a

  26. Slide 26: Indications of Interest

    Indications of Interest: Head & Neck Squamous Urothelial Cancer Cervical Cancer Cell Carcinoma 5-Year Survival 72% 40% 9% 88% 70% 39% 86% 66% 37% Localized Regional Distant Localized Regional Distant Localized Regional Distant 83.2 K 82.7 K 82.2 K 81.7 K 81.2 K 80.7 K 76.0 K 77.8 K 79.8 K 71.1 K 72.

  27. Slide 27: CRB-701: Summary of Latest Data

    CRB-701: Summary of Latest Data Safety + • Markedly fewer skin and PN AEs vs PADCEV® Tolerability • Prophylaxis reduces ocular tox from 66% → 38% (China → US/UK Optimus) • One dose in 21-day cycle (vs PADCEV Q1Wx3) Convenience • Fewer reductions/interruptions/discontinuations vs PADCEV ® • Promising

  28. Slide 28: CRB-913

    CRB-913 Oral cannabinoid Type-1 inverse agonist for superior incretin therapy in obesity 28

  29. Slide 29: CB1 is a Well-Understood Receptor in Metabolism

    CB1 is a Well-Understood Receptor in Metabolism >9K papers in PubMed on CB1 and metabolism Source(s): Targeting the endocannabinoid system in diabesity: Fact or fiction?, Drug Discovery Today, Deeba et al. Mar 2021. 29

  30. Slide 30: Next-Generation CB1 Inverse Agonists are Peripherally Restricted

    Next-Generation CB1 Inverse Agonists are Peripherally Restricted First-generation (2000-2007) Next-generation (2020 onwards) Designed to target the brain with high BBB penetration → Designed to be peripherally restricted with minimal FDA rejection due to safety concerns (2007) BBB penetration → avoi

  31. Slide 31: Clinical Efficacy of Monlunabant vs Rimonabant: What Do We Know?

    Clinical Efficacy of Monlunabant vs Rimonabant: What Do We Know? Placebo-adjusted weight loss cross-trial comparison 0 Rimonabant (5 mg) Rimonabant (20 mg) Change in weights (kg) -2 Monlunabant (10 mg) N =345* 0 Monlunabant (25 mg) Rimonabant (5 mg) -4 N = 20*** Rimonabant (20 mg) -2 Monlunabant (10

  32. Slide 32: CRB-913: Designed to be a Best-in-class Next Generation CB1 Inverse Agonist

    CRB-913: Designed to be a Best-in-class Next Generation CB1 Inverse Agonist Design Goals Protect lean mass Enhance efficacy of (muscle) incretin analogs Best-in-class peripheral Retain 1st gen restriction efficacy 32

  33. Slide 33: CRB-913 is the Outcome of a Multi-year Medicinal Chemistry Campaign

    CRB-913 is the Outcome of a Multi-year Medicinal Chemistry Campaign CRB-913 JD-5037 (2012-2018) / Ibipinabant (2004-2008) CRB-4001 (2018-2021) Completed Phase IIb (Solvay/BMS) CRB-4001 (JD5037) licensed from Jenrin in 2018 New IP published – patent coverage through 2043 Small, lipid soluble molecule

  34. Slide 34: CRB-913: Higher Degree of Peripheral Restriction Than Monlunabant or Rimonabant

    CRB-913: Higher Degree of Peripheral Restriction Than Monlunabant or Rimonabant AUC Brain:Plasma ratio Brain levels lean mice Dose CRB-913 Monlunabant Rimonabant 700 10 mg/kg 1:50 1:5 1:1 Cmax = 561 600 Rimonabant concentration (ng/g) Rimonabant 500 Cmax Brain concentration (ng/g) Cmax = 344 Monluna

  35. Slide 35: CRB-913: Potential Clinical Usage and Supportive Pre-clinical Data

    CRB-913: Potential Clinical Usage and Supportive Pre-clinical Data 1. Incretin analog therapy for insensitive/intolerant/high-risk patients 2. Combination with oral incretin agonists → potentially enhances efficacy OR improve tolerability 3. “Induction/maintenance” model: goal to potentially maintai

  36. Slide 36: CRB-913: Dose Response Weight Loss Across Wide Range in DIO Mice

    CRB-913: Dose Response Weight Loss Across Wide Range in DIO Mice Weight loss (%) by day 19 in DIO mice BID vehicle 10 5.0 QD 2.5 mg/kg 5 mg/kg 10 mg/kg 10 mg/kg 20 mg/kg 40 mg/kg 80 mg/kg vehicle body weight, mean (SD) BID BID QD BID QD QD QD 0 Percentage change in -0.3 -10 -10.5 -20 -17.2 -20.9 -22

  37. Slide 37: CRB-913: Enhanced Combo Effect with Semaglutide or Tirzepatide

    CRB-913: Enhanced Combo Effect with Semaglutide or Tirzepatide Body weight change (%) at day 18 <0.0001 <0.0001 10 5.2 <0.0001 All cohorts P < 0.001 compared with vehicle <0.0001 Body Weight Change (%) 0 High Fat Diet CRB-913 (2.5 mg/kg PO BID) -10 Semaglutide (10 nmol//kg SC Q3D) -7.8 Tirzepatide (

  38. Slide 38: CRB-913: Induction/Maintenance with Semaglutide

    CRB-913: Induction/Maintenance with Semaglutide “Switch” ↓ 5 5.1 Vehicle 2.1 Sema → vehicle body weight change (%) 0 7 14 21 28 35 41 -5 Day -10 -13.7 -13.6 Sema → Sema -15 -17.1 Sema → CRB-913 -20 Vehicle PO QD Semaglutide Day 1- 41 Semaglutide Day 1-21; Vehicle Day 22-41 Semaglutide Day 1-21; CRB-

  39. Slide 39: Weight Loss from CRB-913 Driven by More Fat Loss than Semaglutide

    0.843 Weight Loss from CRB-913 Driven by More Fat Loss than Semaglutide Vehicle Sema→Sema Sema→CRB-913 2 Fat change (%) from Day 0 0 -2 -3.65 -4 -6 -8 -8.65 -10 -12 ** **p<0.01 vs vehicle At day 41 (end of study period) Sema → Sema Sema → CRB-913 Difference Weight loss (%) -13.6 -17.1 ↑25% Fat chang

  40. Slide 40: Clinical Development Pathway to Determination of Dose Response Curve

    Clinical Development Pathway to Determination of Dose Response Curve Q1- Q3 2025 Q4 ‘25 – H2 ‘26 H2 ’26 – H1 ‘27 Ph1a SAD Ph1b dose range Phase 2 → MAD study 2022-2023 2023-2024 2025-2026 (?) Additional dose 25 mg/day 10, 20 and 50 response study 28-day mg/day 16 wks planned (n=600) (n=37) (n=240) 4

  41. Slide 41: CRB-601

    CRB-601 Potential “best-in-class” ⍺vβ8 mAb 41

  42. Slide 42: CRB-601 has the Potential to Enhance Checkpoint Inhibition

    CRB-601 has the Potential to Enhance Checkpoint Inhibition Novel mechanism to target TGF in the tumor microenvironment Focus on adopting a precision-targeted approach Large opportunity potential if POC is validated 42

  43. Slide 43: TGFβ Predicts Poor Clinical Outcomes in a Subset of Cancer Patients

    TGFβ Predicts Poor Clinical Outcomes in a Subset of Cancer Patients 1.0 N = 8,461 cancers, multiple cell types Immunogenomic subtypes in cancer Overall survival, % 0.8 C1 WOUND HEALING C2 INF-γ DOMINANT 0.6 C3 INFLAMMATORY C4 LYMPHOCYTE DEPLETED 0.4 C5 IMMUNOLOGICALLY QUIET C6 TGFβ DOMINANT TGFβ pre

  44. Slide 44: Targeting the Integrin αvβ8 Represents a Novel Approach to Regulating TGFβ

    Targeting the Integrin ⍺vβ8 Represents a Novel Approach to Regulating TGFβ 44 Source(s): Huang et al., 2021. Recent progress in TGFβ inhibitors for cancer therapy.

  45. Slide 45: CRB-601 is Targeting Latent-TGFβ by Blocking the Integrin αvβ8

    CRB-601 is Targeting Latent -TGFβ by Blocking the Integrin v8 The integrin v8 is expressed in the tumor microenvironment (TME) Latent-TGF is also expressed in the TME CRB-601 is a blocking antibody preventing the interaction of these two proteins 45

  46. Slide 46: mAbs Targeting TGFβ Activation in the Clinic

    mAbs Targeting TGFβ Activation in the Clinic CRB-601 PF-06940434 SRK-181 ABBV-151 RG6440 GARP MOA ⍺vβ8 ⍺vβ8 L-TGFβ L-TGFβ (TGFβ1) Phase 2 Phase 1/2 –study HCC (read-out in 2025) Clinical Stage Phase 1 completed Phase 1 Phase 1 Expanded Ph2 trials into December 2024 muC & NSCLC Indications Solid Tumo

  47. Slide 47: CRB-601 Enhances Anti-PD-1 Therapy in Murine Tumor Models

    CRB-601 Enhances Anti-PD-1 Therapy in Checkpoint Inhibition Sensitive and Resistant Murine Tumor Models MC38 (Inflamed Tumor) EMT6 (Excluded Tumor) 4T1 (Desert Tumor) **** **** *** * *** *** * *** *** Checkpoint blockade sensitivity CRB-601: 10 mg/kg BIW Sensitive Resistant Anti-PD-1: 10 mg/kg BIW 1

  48. Slide 48: Blockade of αvβ8 with Anti-PD-1 Increased TIL Populations in EMT6 Tumors

    Blockade of ⍺vβ8 in Combination with Anti-PD-1 Increased TIL Populations in Immune Excluded EMT6 Tumors EMT6 orthotopic Treatment CRB-601, 30 mg/kg, IP Tumor volume = 200 mm3 PD readouts implantation (when treatment initiated) Anti-PD-1, 10 mg/kg, IP Days -14 0 3 6 10 CD4 T Cells CD8 T Cells NK Cell

  49. Slide 49: CRB-601 Reshapes The Landscape Of Effector T and NK Cells in MC38 Tumors

    CRB-601 Reshapes The Landscape Of Effector T and NK Cells in MC38 Tumors Source(s): Corbus data on file 49

  50. Slide 50: Applying a Proprietary Algorithm to Define the Clinical Focus for CRB-601

    Applying a Proprietary Algorithm to Define the Clinical Focus for CRB-601 A multi-parametric, immune-focused algorithm has refined indications for CRB-601 Clustered Tumor Types The combination of immune features and gene expression profiles have identified 9 indications for clinical priority Quartil

  51. Slide 51: Patient Selection Strategies will Enhance the Probability of Success

    Patient Selection Strategies will Enhance the Probability of Success Prioritization of indications with differential Ovarian (TPS-100) NSCLC (TPS-100) gene expression vs. normal tissues will emphasize focus on the tumor potential of ⍺vβ8 Head &Neck (TPS-60) Stomach (TPS-0) Development of a NEW patie

  52. Slide 52: Leadership, Upcoming Catalysts, Financials

    Leadership Upcoming Catalysts Financials 52

  53. Slide 53: Management Team

    Management Team Yuval Cohen, Ph.D. Sean Moran, CPA, MBA Chief Executive Officer, Director Chief Financial Officer Corbus co-founder and Chief Executive Officer since Corbus co-founder and Chief Financial Officer since 2014. 2014. Previously the President and co-founder of Celsus Prior senior financial

  54. Slide 54: Board of Directors

    Board of Directors Rachelle Jacques Chair of the Board Amb. Alan Holmer Ret. Director More than 25-year professional career, experience in U.S. and global More than two decades of public service in Washington, D.C. biopharmaceutical commercial leadership, including multiple high-profile including Spe

  55. Slide 55: 2025 Corporate Milestones

    2025 Corporate Milestones Present Western Ph1 dose escalation data: Q1 2025 CRB-701 Complete dosing under Project Optimus and establish RP2D: Q4 2025 Dose first patient in Ph1 SAD/MAD: Q1 2025 CRB-913 Complete Ph1 SAD/MAD: Q3 2025 Start Ph1B study: Q4 2025 CRB-601 Complete Ph1 dose escalation: Q4-20

Corbus Pharmaceuticals Holdings — Investor Presentation (May 2025) on 6ix