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NORWOOD, Mass. - Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP), a clinical-stage company with a market capitalization of $90.5 million that according to InvestingPro analysis appears undervalued, announced Monday it has initiated the multiple ascending dose (MAD) portion of its Phase 1 trial for CRB-913, its peripherally restricted cannabinoid receptor inverse agonist being developed for obesity treatment.
The MAD study follows completion of the single ascending dose (SAD) portion launched in March 2025. According to the company’s press release statement, no treatment-related neuropsychiatric events have been observed to date in the SAD study, even at doses higher than those expected to be therapeutically effective. The company maintains a strong financial position, with InvestingPro data showing more cash than debt on its balance sheet and a healthy current ratio of 11.8.
The MAD portion will test once-daily dosing of CRB-913 for seven days in healthy volunteers, focusing on safety, tolerability and pharmacokinetics at increasing dose levels. The study is being conducted in the United States.
"The data collected to date shows a satisfactory translation from pre-clinical models to the clinical settings," said Yuval Cohen, CEO of Corbus.
CRB-913 belongs to a new class of peripherally restricted CB1 inverse agonists designed with reduced brain penetration. Previous experimental drugs with this mechanism of action were abandoned due to neuropsychiatric adverse event risks.
The company expects to complete the SAD/MAD portion of the Phase 1 trial in the third quarter of 2025, followed by initiation of a Phase 1b dose-range finding study in obese individuals in the fourth quarter. The dose-range finding study is scheduled for completion in the second half of 2026.
Corbus Pharmaceuticals is a clinical-stage company with a pipeline that includes CRB-913 for obesity along with oncology candidates CRB-701 and CRB-601. While the stock has shown significant volatility, with a beta of 3.12 and a 83.6% decline over the past year, analysts maintain a bullish outlook with price targets ranging from $28 to $58. InvestingPro subscribers have access to 8 additional key insights about CRBP’s financial health and market position.
In other recent news, Corbus Pharmaceuticals has seen notable developments across various aspects of its operations. H.C. Wainwright reaffirmed its Buy rating for Corbus Pharmaceuticals, though it adjusted the stock price target to $40, citing a positive outlook for the company’s pipeline. Mizuho Securities also maintained an Outperform rating but lowered the price target to $32, reflecting on Corbus’s first-quarter results and extended cash runway to the second quarter of 2027. The company is expected to release key data sets for its clinical-stage assets by the fourth quarter of 2025.
Additionally, Corbus Pharmaceuticals announced the appointment of Rachelle Jacques as the new Chair of the Board, a decision made during the annual meeting of stockholders. Shareholders also ratified the appointment of EisnerAmper LLP as the independent auditor and approved the executive compensation policies. Analysts from H.C. Wainwright highlighted the promise of Corbus’s CRB-701, particularly in oncology, with the FDA granting Fast Track designation for relapsed/refractory metastatic cervical cancer. Despite the positive clinical developments, analysts noted a cautious market sentiment towards biotech stocks, adjusting their valuation frameworks accordingly.
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