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On Monday, H.C. Wainwright analysts reaffirmed their Buy rating and $40 price target for Corbus Pharmaceuticals stock (NASDAQ: NASDAQ:CRBP). Currently trading at $7.42, the stock has seen significant volatility, with analyst targets ranging from $28 to $73. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis, despite falling over 80% in the past year. At the American Society of Clinical Oncology (ASCO) 2025 conference, Mabwell presented promising results from its Phase 1b/2 study of the Nectin-4 antibody-drug conjugate (ADC), 9MW2821, in combination with the PD-1 inhibitor toripalimab for patients with treatment-naïve locally advanced/metastatic urothelial carcinoma. With a current market cap of $90.8 million and a strong liquidity position (current ratio of 11.82), the company maintains financial flexibility to advance its clinical programs.
The study, involving 40 patients, reported an objective response rate (ORR) of 87.5%, with a confirmed ORR of 80% and a disease control rate (DCR) of 92.5%. Subgroup analyses showed supportive ORRs of 88.2% in liver metastases, 94.4% in bladder cancer, and 100% in Nectin-4-negative tumors. These findings indicate that 9MW2821 can produce significant early activity across various mUC phenotypes when combined with immunotherapy.
Despite the promising efficacy, safety concerns remain. Approximately 24% of patients experienced Grade 3 or higher treatment-related adverse events, including neutropenia (7.1%), rash (4.8%), and ALT elevation (4.8%). These safety issues are consistent with Mabwell’s previous cervical cancer data, which showed a similar rate of Grade 3+ neutropenia in about 40% of patients.
The analysts noted that while the efficacy of 9MW2821 is promising, the management of toxicity is crucial for its long-term competitiveness, especially compared to newer ADCs with better safety profiles. Consequently, they maintained their Buy rating and $40 price target for Corbus Pharmaceuticals stock. InvestingPro subscribers have access to 10 additional key insights about CRBP, including detailed financial health metrics and comprehensive valuation analysis. Get the full picture with the Pro Research Report, part of the extensive coverage available for 1,400+ US stocks.
In other recent news, Corbus Pharmaceuticals has initiated a Phase 1 clinical trial for its obesity treatment CRB-913, marking a significant step in the company’s development pipeline. This trial aims to evaluate the safety and efficacy of the drug, which is designed to minimize central nervous system penetration, potentially reducing associated risks. In financial developments, Mizuho (NYSE:MFG) Securities has adjusted its price target for Corbus Pharmaceuticals to $32 from $42, maintaining an Outperform rating despite the reduced target. The firm remains optimistic about Corbus’s clinical-stage assets and extended cash runway. H.C. Wainwright also revised its price target for Corbus, lowering it to $40 from $50, while maintaining a Buy rating, reflecting a cautious market sentiment towards biotech stocks.
Additionally, Corbus Pharmaceuticals announced the appointment of Rachelle Jacques as the new Chair of the Board, succeeding Alan Holmer. This change follows a successful annual meeting where shareholders voted on various corporate matters, including the reappointment of directors and executive compensation policies. In governance news, Dr. Peter Salzmann will not seek re-election to the Board of Directors, leading to a reduction in board size from eight to seven members post-annual meeting. These developments reflect Corbus’s ongoing efforts to strengthen its strategic direction and governance as it advances its therapeutic portfolio.
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