Corbus Pharmaceuticals Holdings, Inc. · NASDAQ:CRBP

Corbus Pharmaceuticals — Investor Presentation (March 2026)

63 slides from Corbus Pharmaceuticals's investor presentation, Mar 9, 2026

  1. Slide 1: Connecting Innovation to Purpose

    Connecting Innovation to Purpose Corporate Presentation March 9, 2026 Exhibit 99.2

  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 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 results, prod

  3. Slide 3: Our Focus and Purpose

    Our Focus and Purpose We are advancing novel oncology and obesity drugs with markedly differentiated profiles to unlock the potential of well-validated targets and address critical unmet needs.

  4. Slide 4: Key clinical readouts expected in 2026

    Key clinical readouts expected in 2026 $163M Cash, cash equivalents and investments as of December 31, 2025, and approximately 17.6M common shares issued and outstanding (~20.5M fully diluted shares) 12-week dose-range finding data in patients with obesity (n=240) in summer 2026 CRB-913 Longer-term

  5. Slide 5: Diversified pipeline with differentiated clinical profiles

    Therapy Disease Indication Sponsor Pre-Clinical Phase 1 Phase 2 Phase 3 Milestones Next-Generation Nectin-4 targeting ADC CRB-701 Nectin-4 positive solid tumors CSPC (China) Phase 3 in cervical cancer Corbus (US + Europe) Dose optimization in HNSCC, cervical & mUC Highly Peripherally-Restricted CB1

  6. Slide 6: CRB-701 Next-Generation Nectin-4 Targeting ADC

    CRB-701 Next-Generation Nectin-4 Targeting ADC

  7. Slide 7: CRB-701: Re-imagining a Nectin-4 ADC

    CRB-701: Re-imagining a Nectin-4 ADC Extend ADC half-life  Reduce dosing frequency Convenience Lower DAR + longer half-life  Dose higher + longer than PADCEV® Efficacy Markedly reduced PADCEV®-associated toxicities Safety Focus on non-mUC tumors  Avoid competing with PADCEV® Strategy Summary

  8. Slide 8: Emerging indications of interest: HNSCC + cervical cancer

    Head & Neck Squamous Cell Carcinoma Cervical Cancer mUC 5-Year Survival Not pursuing as a stand-alone company U.S. Incident Patient Population Funnel 2025 Current Treatment Emerging indications of interest: HNSCC + cervical cancer Source: SEER Bladder Cancer; Census.gov; Weir et al., 2021; American

  9. Slide 9: CRB-701: Proprietary components, novel design

    CRB-701: Proprietary components  novel design MMAE = Monomethyl auristatin E. ADCC = antibody-dependent cellular cytotoxicity. CDC = complement dependent cytotoxicity Source(s): Modified image from Corbus data on file; Corbus data on file Novel Nectin-4 Antibody ADCC + CDC functionality Glutamine F

  10. Slide 10: Best responses seen in tumors with highest Nectin-4 expression

    Best responses seen in tumors with highest Nectin-4 expression - mUC, cervical & HNSCC1 Source(s): 1. Corbus data on file; 2. AACR 2023 Poster CRB-701 demonstrates better efficacy than EV in patient-derived tumor model expressing low levels of Nectin-42 Elevated Nectin-4 expression: urothelial, cerv

  11. Slide 11: 21-day PK comparison vs PADCEV

    Company 21-day PK Comparison % ADC % Free MMAE Cmax AUC0-21d Cmax AUC0-21d PADCEV® 1.24 mg/kg Q1W x 3 PADCEV® Benchmark 100% 100% 100% 100% 2.7 mg/kg Q3W Matched for MMAE dose (DAR) 183% 274% 35% 38% 3.6 mg/kg Q3W 2.9-fold PADCEV® ADC Dose 228% 361% 59% 62% Key differentiator: Lower levels of free M

  12. Slide 12: CRB-701: Best-in-class dosing regimen

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

  13. Slide 13: CRB-701: Corbus study design (U.S. + Europe)

    CRB-701: Corbus study design (U.S. + Europe) 1.8 mg/kg 2.7 mg/kg 3.6 mg/kg 4.5 mg/kg Completed Dose expansion (Data maturation for pivotal trial planning) Dose escalation Project Optimus (Dose optimization) Randomized to 2.7 or 3.6 mg/kg monotherapy in: HNSCC Cervical mUC CRB-701 + Keytruda® Ongoing

  14. Slide 14: ESMO 2025: Key characteristics & tumor types

    ESMO 2025: Key characteristics & tumor types Source(s): ESMO 01 Sep 2025 Data cut Baseline characteristic (as of 9/1/25 data cut) Median age (range) 60 (32-90) Sex (M/F) 50.3% / 49.7% ECOG PS 0, 1, 2 43.1% , 55.1% , 1.8% Weight in kg mean (range) 72 (32.1-132.8) Prior therapies median (range) 3 (1-9

  15. Slide 15: ESMO 2025: TEAEs ≥15%

    ESMO 2025: TEAEs ≥15% (n=167) Sources: ESMO 01 Sep 2025 Data cut Adverse Events of Interest N=167 (%) Peripheral neuropathy Broad Terms* 8.4% Eye Overall 56.9% Grade 3 9% Grade 4 & 5 0 Skin Pruritus 14.4% Dry skin 10.2% Rash 9.0% Rash maculo-papular 4.8% Dermatitis acneiform 3.6% Erythema 1.8% Derma

  16. Slide 16: Favorable emerging safety profile vs. Nectin-4-MMAE peers

    ESMO 2025: Favorable emerging safety profile vs. Nectin-4-MMAE peers Source(s): 1. NDA/BLA Multidisciplinary Review and Evaluation BLA 761137 PADCEV® (enfortumab vedotin) 2. Torras, O. Reig, et al. "652P BT8009 monotherapy in enfortumab vedotin (EV)-naïve patients with metastatic urothelial carcinom

  17. Slide 17: Safety Summary

    Safety Summary *Standardized MedDRA Category Search; **decubitus ulcer, general rash, Bullous dermatitis Safety 28.7% ( excluding alopecia) Low numbers of Grade ≥3 events (3/167**) Discontinuations due to eye toxicities have been low (4.2%) Best-in-class for peripheral neuropathy 8.4% (all grade 1 o

  18. Slide 18: ESMO 2025: HNSCC baseline characteristics vs. peers

    ESMO 2025: HNSCC baseline characteristics vs. peers Source(s): * ESMO 01 Sep 2025 Data cut; **ESMO ASIA data Dec 2024; *** Swiecicki et al, 2024 Baseline characteristic CRB-701* Petosemtamab** HNSCC PADCEV®*** Median age (range) 62 (35-76) 60 (31–77) 65 (33-81) Sex (M/F) 90% / 10% 79% / 21% 87% / 13

  19. Slide 19: ESMO 2025: HNSCC waterfall plot (n=41)

    ESMO 2025: HNSCC waterfall plot (n=41) Source: ESMO 01 Sep 2025 Data cut, ,Note: NE = Non-Evaluable. 2.7 mg/kg 3.6 mg/kg ORR 33.3% (4/12) 47.6% (10/21) DCR 75% 61.9% Response confirmation All confirmed 7 confirmed 3 unconfirmed: 1 discontinued and 2 ongoing ORR% = ( CR+PR) / Response evaluable patie

  20. Slide 20: ESMO 2025: HNSCC swimmer plots (n=58)

    ESMO 2025: HNSCC swimmer plots (n=58) Source(s): ESMO 01 Sep 2025, *based on confirmed overall response PFS and DOR: too early to assess HNSCC HNSCC

  21. Slide 21: Case Study #1: Clinical improvement in resistant disease

    Case Study #1: Clinical improvement in participant with resistant disease (HPV+) Source(s): Corbus Data on file As of 22 Sep 2025 – Participant is ongoing with a PR and tumor reduction of -73% with negative NavDx ctDNA. Remaining disease is PET negative/cold – being considered as a clinical (not for

  22. Slide 22: Case Study #2: Response in patient pre-treated with petosemtamab

    Source: Corbus data on file Case Study #2: Response seen in patient pre-treated with petosemtamab (HPV+) Patient had a partial response (after previously showing stable disease while on petosemtamab) Patient was heavily pre-treated with 4 lines of prior therapy HNSCC Adjuvant 1st line (completed) Ci

  23. Slide 23: CRB-701 compared to petosemtamab or PADCEV in 2L HNSCC

    CRB-701 compared to petosemtamab or PADCEV® in 2L HNSCC Source(s): *ESMO 01 Sep 2025 Data cut; ** Swiecicki et al, 2024; ***ESMO ASIA data Dec 2024. Petosemtamab*** HNSCC PADCEV®** CRB-701* Dosing regimen 1500mg Q2W 1.25mg/kg on d1/8/15 of 28-day 3.6mg/kg Q3W Target population PD(L)-1 +ve only (HPV+

  24. Slide 24: CRB-701 HNSCC: Next steps planned

    CRB-701 HNSCC: Next steps planned HNSCC Convenience kit components Phase 1/2 monotherapy data FDA update - registrational study protocol Generate CRB-701 + Keytruda® 1L data Q1 2026 Mid-2026 Q4 2026

  25. Slide 25: Cervical cancer: Acute unmet need in 2L

    Cervical cancer Acute unmet need in 2L in poorly addressed market

  26. Slide 26: Cervical Cancer: Commercial Opportunity for CRB-701

    14,0001 Annual new cases in U.S. 4,000 annual deaths Numbers rising2 Immigration of unvaccinated adult women Socio-economics and vaccine hesitancy 39%3 Girls ages 13-15 remain unvaccinated for HPV (2022 NIH data) $1.8bn4 U.S. market for cervical cancer treatment Cervical Cancer: Commercial Opportuni

  27. Slide 27: Few options for 2L cervical cancer

    Few options for 2L cervical cancer 1L Carbo + Paclitaxel +/- Beva +/- Pembrolizumab 2L Tisotumab vedotin Single-Agent Chemo 2021 Accelerated approval 2024 Full approval Cervical Cancer

  28. Slide 28: Tivdak associated with challenging tolerability profile

    Adverse event Rate* Ocular (Black Box) 55% (all grades) Peripheral neuropathy 39% (all grades) Bleeding 51% (all grades) Rash 17% (all grades) Tivdak® is associated with challenging tolerability profile * Per FDA Prescription Label Cervical Cancer

  29. Slide 29: Tivdak commercial potential

    USA numbers Value R/M patients receiving 2L treatment 38%* Tivdak® usage among 2L 1 in 5* Annual price (WAC) $466,208** Annualized sales (global) $328mm*** Tivdak® demonstrates a commercial potential that could be markedly improved *Leath et al. 2023, **MERCI Feb 2025 *** Tivdak sales 9 months for e

  30. Slide 30: Post-1L therapy unmet need; potential use of CRB-701

    Post-1L therapy represents unmet need with few available therapeutic options Side effect profile + poor efficacy are limitations on Tivdak® commercial success FDA has granted CRB-701 Fast Track status in cervical cancer Potential use of CRB-701 in cervical cancer Source: * Per FDA Prescription Label

  31. Slide 31: CRB-701 ESMO 2025: Waterfall plot (n=37)

    CRB-701 ESMO 2025: Waterfall plot (n=37) Source: ESMO 01 Sep 2025 Data cut Note: NE =Non-evaluable ORR %=( CR+PR)/ Response evaluable patients DCR % = (CR+PR+SD) /Response evaluable patients 2.7 mg/kg 3.6 mg/kg ORR 22.2% (4/18) 37.5% (6/16) DCR 66.6% 68.8% Response confirmation 2 confirmed 2 unconfi

  32. Slide 32: CRB-701 ESMO 2025: Swimmer plots (n=54)

    CRB-701 ESMO 2025: Swimmer plots (n=54) Source(s): ESMO 01 Sep 2025 Data cut, based on confirmed overall response PFS and DOR: too early to assess Cervical Cancer

  33. Slide 33: CRB-701 potential to displace current standard of care in 2L

    CRB-701 potential to displace current standard of care in 2L Sources: ESMO 01 Sep 2025 Data cut *Tivdak® Package Insert CRB-701 Tivdak® N=253* IC Chemo 2L+ N=249* Mechanism Nectin-4 ADC with MMAE payload (DAR 2) Tissue factor ADC with MMAE payload (DAR 4) Anti-metabolite, cytoskeleton disruption, to

  34. Slide 34: CRB-701 cervical cancer: Next steps planned

    CRB-701 cervical cancer: Next steps planned Cervical Cancer Convenience kit components Phase 1/2 monotherapy data FDA update - registrational study protocol Q1 2026 Mid-2026

  35. Slide 35: mUC

    mUC

  36. Slide 36: ESMO 2025: Waterfall plot (n=23)

    ESMO 2025: Waterfall plot (n=23) Source: ESMO 01 Sep 2025 Data cut Note: NE = Non-Evaluable ORR% = ( CR+PR) / Response evaluable patients DCR% = (CR+PR+SD)/ Response evaluable patients 2.7 mg/kg 3.6 mg/kg ORR 50.0% (4/8) 55.6% (5/9) DCR 75.0% 88.9% Response confirmation 2 confirmed 2 unconfirmed and

  37. Slide 37: ESMO 2025 Swimmer plots (n=27)

    ESMO 2025 Swimmer plots (n=27) Source(s): ESMO 01 Sep 2025 Data cut, based on confirmed overall response PFS and DOR: too early to assess Bladder Cancer

  38. Slide 38: ESMO 2025: CRB-701 compared to PADCEV monotherapy

    ESMO 2025: CRB-701 compared to PADCEV® monotherapy Sources: *ESMO 01 Sep 2025 Data cut **PADCEV® data ***All grade 3, no Grade 4/5: 1 x rash, 1 x decubitus ulcer, 1 x dermatitis bullous CRB-701* PADCEV®** Mechanism Nectin-4 ADC with MMAE payload (DAR 2) Nectin-4 ADC with MMAE payload (DAR ~3.8) Dosi

  39. Slide 39: Decision based on current competitive landscape rather than data

    Decision based on current competitive landscape rather than data Keytruda® + PADCEV® dominate mUC 1L and PADCEV® dominates mUC 2L Corbus not currently pursuing mUC as indication as a stand-alone company * 1L Keytruda® + PADCEV® Efficacy: (ORR 67.7%*) PADCEV**® Efficacy (ORR 44%) 2L+ Bladder Cancer S

  40. Slide 40: CRB-913 Daily oral small molecule for chronic obesity management

    CRB-913 Daily oral small molecule targeting chronic obesity management Data from Phase 1a SAD/MAD study

  41. Slide 41: Emerging unmet needs in the obesity landscape

    What are the emerging unmet needs in the obesity landscape? 64% GLP-1 discontinuation @ 1 year for obesity patients* Source: *Cartwright et al 2025, **AP Nov 2024

  42. Slide 42: CRB-913's opportunity to reshape the obesity treatment paradigm

    CRB-913's opportunity to reshape the obesity treatment paradigm Alternatives to GLP-1 for resistant/intolerant/partial-responders Lifelong weight maintenance using daily pill post weight loss Avoiding sarcopenia

  43. Slide 43: CB1 inverse agonism is a new non-incretin MOA

    MOA Company Function Monotherapy weight loss? CB1 inverse agonism Corbus, Novo Appetite suppression, weight loss & muscle sparring Yes Pan-agonist bitter taste receptor Ardvark Appetite suppression No INHBE siRNA Wave, Arrowhead Fat reduction + muscle buildup No CB1 inverse agonism is a new non-incr

  44. Slide 44: CB1 is a well-understood receptor in metabolism

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

  45. Slide 45: CRB-913 is a highly peripherally restricted inverse agonist

    CRB-913 is a highly peripherally restricted inverse agonist Sources: *Corbus murine data **Corbus PK modeling CRB-913 1/50th Brain:plasma ratio CRB-913 vs. Rimonabant* 1/15th Brain level CRB-913 vs. Monlunabant* 30%⇧ Increase in peripheral levels in humans vs. Monlunabant** Monlunabant Rimonabant Ot

  46. Slide 46: CRB-913 SAD/MAD study

    CRB-913 SAD/MAD study (Phase 1 unit in USA, total n=112) 9 mg 25 mg 75 mg 150 mg 300 mg 600 mg 150 mg participants with obesity 7-Day Multiple Ascending Dose (MAD) (n=48) Single Ascending Dose (SAD) (n=64) # Per Cohort Placebo: 2 CRB-913: 6 # Per Cohort Placebo: 3 CRB-913: 9 25 mg 75 mg 150 mg 150 m

  47. Slide 47: Emerging weight loss with CRB-913 in participants with obesity

    150 mg/day OD for 7 days of dosing + additional 7 days observation = 14 days in-clinic Emerging weight loss with CRB-913 in participants with obesity (150 mg MAD cohort) 2.9% average placebo-adjusted weight loss @ day 14 Participants reported reductions in food-related thoughts and cravings Note: Ba

  48. Slide 48: Weight loss with CRB-913 starts early and deepens

    Weight loss with CRB-913 starts early and deepens Body Weight Change (%) Note: Baseline is defined as the last available measurement taken prior to the first dose of study drug. Percent change in body weight is defined as body weight at the given day minus body weight at baseline divided by body wei

  49. Slide 49: Signals of weight loss in all-comer MAD cohorts

    Signals of weight loss in all-comer participants in MAD cohorts at lower doses Average BMI of 28  lower potential for weight loss Note: Baseline is defined as the last available measurement taken prior to the first dose of study drug. Percent change in body weight is defined as body weight at Day 1

  50. Slide 50: CRB-913 vs. orforglipron MAD: weight loss

    Emerging data CRB-913 vs. orfoglipron MAD: deeper and faster weight loss? Source: All comparator data points are approximated and based on extracted figures reported from Pratt et al 2023 and Corbus data. Data is derived from cross-trial comparison. 2mg 6mg 16mg 24mg 150 mg CRB-913 Placebo-adjusted

  51. Slide 51: CRB-913 vs. orforglipron MAD: differentiated emerging safety

    CRB-913 vs. orfoglipron MAD data: differentiated emerging safety Adverse event CRB-913* Orfoglipron** GI tolerability Nausea None 12%-22% Constipation None 11%-23% Vomiting None 0%-18% Neuropsych CSSRS Negative Negative PHQ-9 Negative Negative GAD-7 Negative Negative * CRB-913 SAD/MAD data **Pratt e

  52. Slide 52: Contextualizing weight loss in 2 weeks across oral MAD data sets

    Drug Company placebo adjusted WL (%) Type CRB-913 (150 mg) -2.9% small molecule Orforglipron (2 mg) -1.4% small molecule Aleniglipron (5 mg) -1.3% small molecule Elecoglipron (50 mg) 0% small molecule Semaglutide (40 mg) -0.7% oral peptide VK2735 (30 mg) -1.8% oral peptide Contextualizing weight los

  53. Slide 53: Potential clinical usage (1 of 3)

    Potential clinical usage and supportive clinical or pre-clinical data (1 of 3) CRB-913 monotherapy therapy for incretin insensitive / intolerant / high-risk patients 1 Insensitive patients: only hope is non-incretin MOA Intolerant patients : CRB-913 has markedly mild GI tox High risk patients (sarco

  54. Slide 54: Potential clinical usage (2 of 3)

    Potential clinical usage and supportive clinical or pre-clinical data (2 of 3) Combination with oral incretin agonists  potentially enhances efficacy OR improve tolerability 2

  55. Slide 55: Potential clinical usage (3 of 3)

    Potential clinical usage and supportive clinical or pre-clinical data (3 of 3) “Induction/maintenance” model: goal to potentially maintain weight loss post incretin analog therapy 3

  56. Slide 56: Weight loss from CRB-913 driven by further fat loss following semaglutide

    Source: Morningstar et al-Obesity Week 2024 Weight loss from CRB-913 driven by further fat loss following semaglutide in DIO mouse model SemaSema SemaCRB-913 At day 41 (end of study period) Sema  Sema Sema  CRB-913 Difference Weight loss (%) -13.6 -17.1 ↑25% Fat change from baseline -3.65% -8.65

  57. Slide 57: Addressable market opportunity for CRB-913

    What could the addressable market opportunity look like for CRB-913? Induction by incretin analogs  maintenance by CRB-913 And/Or Combo-therapy for additional weight loss Orthogonal MOA CRB-913 in line with previous CB1 oral drugs  mild GI AEs Source: *Cartwright et al 2025, **AP Nov 2024 % Patien

  58. Slide 58: Initiated: Phase 1b study (CANYON-1)

    Initiated: Phase 1b study CRB-913 phase 1b (CANYON-1) Monlunabant phase 2a Subjects with obesity 240 240 Location USA Canada Cohorts (all QD) Placebo, 20, 40 and 60 mg Placebo, 10, 20 and 50 mg Titration Yes No Exclude PHQ-9 > 4 at baseline Yes No Completion summer 2026 20 mg QD 20 mg QD Matching Pl

  59. Slide 59: What did we learn from the CRB-913 SAD/MAD data?

    What did we learn from the CRB-913 SAD/MAD data? CRB-913 elicits weight loss that starts early and deepens Weight loss is not driven by GI AEs Weight loss is associated with restriction to the periphery High peripheral restriction  favorable safety + tolerability

  60. Slide 60: Leadership; Upcoming Catalysts

    Leadership Upcoming Catalysts

  61. Slide 61: Management team

    Management team Yuval Cohen, PhD Chief Executive Officer, Director Sean Moran, CPA, MBA Chief Financial Officer Dominic Smethurst Chief Medical Officer, MA MRCP Ian Hodgson, PhD Chief Operating Officer Christina Bertsch, M.A. Head of Human Resources Corbus co-founder and Chief Executive Officer since

  62. Slide 62: Board of Directors

    Board of Directors Winston Kung, MBA Director More than 20 years of senior financial, business development and investment banking experience; currently CFO of ArriVent. (NASDAQ: AVBP) Yuval Cohen, PhD Chief Executive Officer, Director Corbus co-founder and Chief Executive Officer since 2014. Previousl

  63. Slide 63: Upcoming anticipated corporate milestones

    Upcoming anticipated corporate milestones CRB-701 CRB-913 FDA update - registrational study protocol Phase 1/2 monotherapy data Generate CRB-701 +Keytruda® 1L data Complete Ph1 SAD/MAD Start Ph1B study Complete Phase 1B dose ranging study Q1 2026 Mid-2026 Q4 2026 Q4 2025 Q4 2025 Summer 2026

Corbus Pharmaceuticals Holdings — Investor Presentation (March 2026) on 6ix