Corbus Pharmaceuticals Holdings, Inc. · NASDAQ:CRBP

Corbus Pharmaceuticals — Investor Presentation (October 2025)

50 slides from Corbus Pharmaceuticals's investor presentation, Oct 20, 2025

  1. Slide 1: Connecting Innovation to Purpose

    Connecting Innovation to Purpose Corporate Presentation October 19, 2025 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: Clinical data readouts expected for all three drug candidates in 2nd half of 2025

    Clinical data readouts expected for all three drug candidates in 2nd half of 2025 $117M Cash, cash equivalents and investments as of June 30, 2025. Approximately 12.3M Common Shares Outstanding (~14.2M Fully-Diluted Shares). SAD/MAD data: Q4 2025 CRB-913 Dose escalation: Q4 2025 CRB-601 ESMO 2025: C

  4. Slide 4: A diversified pipeline with differentiated clinical risk profiles

    Therapy Disease Indication Sponsor Pre-Clinical Phase 1 Phase 2 Phase 3 Milestones Next-Generation Nectin-4 targeting ADC CRB-701 Next-generation Nectin-4 targeting ADC Nectin-4 positive solid tumors CSPC (China) Multiple cohorts expanding Corbus (US + Europe) Dose optimization in mUC, HNSCC & cervi

  5. Slide 5: CRB-701 Next Generation Nectin-4 Targeting ADC

    CRB-701 Next Generation Nectin-4 Targeting ADC

  6. Slide 6: 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 reduce PADCEV®-associated toxicities Safety Focus on non-mUC tumors  Avoid competing with PADCEV® Strategy Summary

  7. Slide 7: 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 Fo

  8. Slide 8: 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, cervic

  9. Slide 9: 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

  10. Slide 10: 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

  11. Slide 11: 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

  12. Slide 12: 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

  13. Slide 13: 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

  14. Slide 14: 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

  15. Slide 15: ESMO 2025: 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

  16. Slide 16: Safety Summary

    Safety Summary *Standardized MedDRA Category Search; **decubitus ulcer, general rash, Bullous dermatitis Safety 28.7% (broad-terms 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% (al

  17. Slide 17: HNSCC baseline characteristics vs. peers

    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% ECOG PS 0

  18. Slide 18: ESMO 2025: HNSCC waterfall plot

    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

  19. Slide 19: ESMO 2025: HNSCC swimmer plots

    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

  20. Slide 20: CRB-701 biomarker populations: Observed efficacy

    CRB-701 biomarker populations: Observed efficacy Nectin-4 Responses seen across wide range of IHC H-score expressions HPV Responses seen in HPV positive and negative patients PD(L)-1 Responses in PD(L)-1 positive and negative patients Source(s): Corbus data on file HNSCC

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

    Case Study #1: Clinical improvement in participant with resistant disease 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 formal) CR

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

    Source: Corbus data on file Case Study #2: Response seen in patient pre-treated with petosemtamab 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) Cisplatin

  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: Target patient populations for CRB-701 in HNSCC

    Target patient populations for CRB-701 in HNSCC 1L Multiple MOAs being evaluated CRB-701 combo data with pembrolizumab  expected mid-2026 24,000* annual cases in USA No ADCs approved Orthogonal mechanism to EGFR Existing late line Tx ORR ~10% Petosemtamab ORR 36% 2L+ Source(s): LifeSci Consulting Q

  25. Slide 25: CRB-701 HNSCC: Next steps planned

    CRB-701 HNSCC: Next steps planned Convenience kit components Mid-2026 start registrational studies Engage with FDA to determine registrational pathway CRB-701 & pembrolizumab combination data mid 2026 HNSCC

  26. Slide 26: ESMO 2025: Cervical cancer waterfall plot

    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 unconfirmed and

  27. Slide 27: ESMO 2025: Swimmer plots

    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

  28. Slide 28: ESMO 2025: CRB-701 compared to Tivdak

    ESMO 2025: CRB-701 compared to Tivdak® Sources: ESMO 01 Sep 2025 Data cut *Tivdak® Package Insert CRB-701 Tivdak® Mechanism Nectin-4 ADC with MMAE payload (DAR 2) Tissue factor ADC with MMAE payload (DAR 4) Target population 2L 2L Median Age 54 (32-78) 51 (26-80) ECOG (0, 1, 2, missing) 51.9%, 48.1%

  29. Slide 29: Post-1L therapy represents unmet need with few effective modalities

    Post-1L therapy represents unmet need with few effective modalities Tivdak® considered “a standard of care” in 2L with current annualized sales of $314 million* Side effect profile + poor efficacy are limitations on Tivdak® commercial success FDA has granted CRB-701 Fast Track Status in cervical can

  30. Slide 30: ESMO 2025: Bladder cancer waterfall plot

    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

  31. Slide 31: ESMO 2025 Swimmer plots

    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

  32. Slide 32: 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: https://www.accessdata.fda.gov/drugsatfda_docs/nda/2019/761137Orig1s000MultiDiscliplineR.pdf ***All grade 3, no Grade 4/5: 1 x rash, 1 x decubitus ulcer, 1 x dermatitis bullous CRB-701* PADCEV®** M

  33. Slide 33: 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

  34. Slide 34: CRB-913 Oral CB1 inverse agonist for superior incretin therapy in obesity

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

  35. Slide 35: 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

  36. Slide 36: Attributes of CB1 small-molecule inverse agonism

    Predictable MOA for weight loss Orthogonal MOA to incretins Low GI AEs Once-daily pill Non-sarcopenic Large scale synthesis Attributes of CB1 small-molecule inverse agonism Predictable MOA for weight loss Orthogonal MOA to incretins Low GI AEs Once-daily pill Non-sarcopenic Large scale synthesis

  37. Slide 37: Next-generation CB1 inverse agonists are peripherally restricted

    Monlunabant CRB-913 Next-generation CB1 inverse agonists are peripherally restricted Source(s): Cinar et al 2020 Rimonabant Otenabant Ibipinabant Taranabant First-generation (2000-2007) Next-generation (2020 onwards) Designed to target the brain with high BBB penetration  FDA rejection due to safet

  38. Slide 38: CRB-913 is designed as best-in-class next-generation CB1 inverse agonist

    CRB-913 is designed as best-in-class next-generation CB1 inverse agonist Best-in-class peripheral restriction Protect lean mass (muscle) Retain 1st gen efficacy Enhance efficacy of incretin analogs

  39. Slide 39: CRB-913 is the outcome of a multi-year medicinal chemistry campaign

    Ibipinabant (2004-2008) JD-5037 (2012-2018) / CRB-4001 (2018-2021) Completed Phase IIb (Solvay/BMS) Small, lipid soluble molecule High BBB penetration Oral Same backbone as Inversago compounds (MRI/INV family) CRB-4001 (JD5037) licensed from Jenrin in 2018 Extensive pre-IND studies carried out PK di

  40. Slide 40: CRB-913 has higher peripheral restriction than monlunabant or rimonabant

    CRB-913 has higher peripheral restriction than monlunabant or rimonabant Source(s): *Morningstar et al Obesity Week poster 2024 Cmax Brain concentration (ng/g) Dose CRB-913 Monlunabant Rimonabant 10 mg/kg 22 344 561 1:15 1:26 1:1.6 Cmax = 561 Cmax = 344 Cmax = 22 AUC = 3855 AUC = 265 1:15 Brain leve

  41. Slide 41: Planned clinical development pathway to determination of dose response curve

    Planned clinical development pathway to determination of dose response curve 25 mg/day 28-day (n=37) Canada 10, 20 and 50 mg/day 16 wks (n=240) Canada Additional dose response study planned (n=600) 🌎 Ph1a SAD  MAD U.S. Ph1b Obese non-T2D 90 days RCT N = 240 U.S. Phase 2 U.S Q1-Q3 2025 Q4 ‘25 – H2…

  42. Slide 42: CRB-913: Potential clinical usage and supportive pre-clinical data

    CRB-913: Potential clinical usage and supportive pre-clinical data Incretin analog therapy for insensitive/ intolerant / high-risk patients Combination with oral incretin agonists  potentially enhances efficacy OR improve tolerability “Induction/maintenance” model: goal to potentially maintain weig

  43. Slide 43: CRB-601 Potential best-in-class αvβ8 mAb

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

  44. Slide 44: CRB-601 has the potential to enhance checkpoint inhibition

    CRB-601 has the potential to enhance checkpoint inhibition Convenience kit components Focus on adopting a precision-targeted approach Novel mechanism to target TGFb in the tumor microenvironment Large opportunity potential if POC is validated

  45. Slide 45: Targeting the integrin αvβ8 represents a novel approach to regulating TGFβ

    Targeting the integrin ⍺vβ8 represents a novel approach to regulating TGFβ Source(s): Huang et al., 2021. Recent progress in TGFβ inhibitors for cancer therapy.

  46. Slide 46: mAbs targeting TGFβ activation in the clinic

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

  47. Slide 47: Leadership, Upcoming Catalysts, Financials

    Leadership Upcoming Catalysts Financials

  48. Slide 48: 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

  49. Slide 49: 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

  50. Slide 50: Upcoming anticipated corporate milestones

    CRB-701 CRB-913 CRB-601 2025 Upcoming anticipated corporate milestones Complete Ph1 SAD/MAD Q4 2025 Start Ph1B study Q4 2025 Complete Phase 1B Mid 2026 Ph1 dose escalation Q4 2025 Regulatory update Q1 2026 Start monotherapy Ph2/3 registrational study Mid 2026 CRB-701+ pembrolizumab Mid 2026

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