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Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP), currently trading at $7.34 and showing signs of being undervalued according to InvestingPro analysis, announced key outcomes from its annual meeting of stockholders held on May 15, 2025. During the meeting, shareholders voted on several important matters, including the election of directors, the ratification of the company’s independent auditor, and an advisory vote on executive compensation.
The election of directors resulted in the reappointment of Yuval Cohen, Alan Holmer, Rachelle Jacques, John Jenkins, Anne Altmeyer, Yong Ben, and Winston Kung. Each director will serve a one-year term. Voting details revealed a significant majority in favor of the proposed directors, with broker non-votes also recorded. The company maintains strong financial health with a current ratio of 11.82 and minimal debt, as revealed by InvestingPro data.
Shareholders ratified the appointment of EisnerAmper LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The advisory vote on the compensation of the company’s named executive officers also passed, reflecting shareholder support for the company’s executive compensation policies.
Additionally, the board of directors appointed Rachelle Jacques as the new Chair of the Board, effective immediately. Jacques succeeds Alan Holmer, who will continue to serve as a board member.
These decisions are crucial for Corbus Pharmaceuticals as they reflect shareholder confidence and ensure continuity in the company’s governance and strategic oversight. The company is known for its focus on developing innovative pharmaceutical preparations. While the stock has experienced significant volatility, with a 55.68% decline over the past six months, analysts maintain coverage with price targets ranging from $28 to $73. For deeper insights into CRBP’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
The information provided in this article is based on a press release statement.
In other recent news, Corbus Pharmaceuticals has initiated a Phase 1 clinical trial for its obesity treatment, CRB-913. This trial, which includes single and multiple ascending doses, began with the first subject already dosed. Meanwhile, H.C. Wainwright has adjusted its price target for Corbus Pharmaceuticals to $40, maintaining a Buy rating. Analyst Andres Y. Maldonado highlighted the promising potential of Corbus’s CRB-701, especially after updated Phase 1 data was presented at a recent conference, reinforcing its efficacy and safety profile in treating various tumors.
Additionally, Corbus Pharmaceuticals announced a change in its Board of Directors, with Dr. Peter Salzmann choosing not to seek re-election, resulting in the board size reducing from eight to seven members. In another executive update, Ian Hodgson has been appointed as the new Chief Operating Officer, bringing over 25 years of experience in drug development and operations. Hodgson’s previous role was as Head of Operations at Corbus, where he served since March 2024.
The company continues to advance its diverse portfolio, including CRB-701, which has shown a 57% response rate in head and neck squamous cell carcinoma during trials. The FDA has granted Fast Track designation to CRB-701 for metastatic cervical cancer, with ongoing trials aiming to optimize doses for multiple cancer types. These developments reflect Corbus’s ongoing efforts to address serious health conditions through innovative therapies.
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