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Corbus Pharmaceuticals (CRBP)

Market Price (6/23/2026): $8.33 | Market Cap: $155.8 MilSector: Health Care | Industry: Biotechnology

Corbus Pharmaceuticals (CRBP)

Market Price (6/23/2026): $8.33
Market Cap: $155.8 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -88%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.

Weak multi-year price returns
2Y Excs Rtn is -121%, 3Y Excs Rtn is -66%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -90 Mil

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -59%

Key risks
CRBP key risks include [1] a history of significant late-stage clinical trial failures, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -88%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -121%, 3Y Excs Rtn is -66%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -90 Mil
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -59%
6 Key risks
CRBP key risks include [1] a history of significant late-stage clinical trial failures, Show more.

CRBP in ETFs

Weight = CRBP's share of each fund

VTI0.00%
DFAS0.00%
DFAC0.00%

Valuation & Metrics

FYE: 12/31CRBP [1]S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]$0.0 Mil—
FY 2026 Sales$1.7 Mil—
FY 2027 Sales$3.6 Mil—
FY 2026 Sales Growth——
FY 2027 Sales Growth116.0%7.7%
EARNINGS
LTM Net Income (GAAP) [3]$-84.5 Mil—
FY 2026 Net Income (Non-GAAP)$-57.2 Mil—
FY 2027 Net Income (Non-GAAP)$-68.5 Mil—
FY 2027 Net Income Growth—15.1%
FY 2026 EPS (Non-GAAP)$-4.64—
FY 2027 EPS (Non-GAAP)$-5.15—
FY 2027 EPS Growth——
VALUATION
FY 2026 P/S93.53.2
FY 2027 P/S43.3—
FY 2026 P/E—20.4
FY 2027 P/E——

[1] CRBP forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).
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MetricValueDateSource
Number of Clinical Programs in Pipeline310182025Link
Number of Participants Enrolled in CRB-701 Phase 1/2 Trial1679012025Link
Number of Granted Patents (United States)812312022Link
Number of Granted Patents (outside of United States)912312022Link
Number of Active Collaborations/Partnerships110302025Link

Price Chart

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Upcoming
8/11/2026Earnings ReleaseRev: -
EPS: -

Why The Stock Moved

Qualitative Assessment

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Updated on 6/12/2026

Corbus Pharmaceuticals (CRBP) stock has lost about 5% since 2/28/2026 because of the following key factors:

1. Increased Operating Expenses and Wider Net Loss: Corbus Pharmaceuticals reported a net loss of $23.0 million for fiscal Q1 2026 (ended March 31, 2026), compared to a net loss of $17.0 million for fiscal Q1 2025. This expansion of loss was primarily driven by a $4.5 million increase in operating expenses, which rose to $24.3 million, mainly due to higher clinical development spending.

2. Market Caution Despite Earnings Beat: Despite reporting a narrower-than-expected net loss of $1.23 per share for fiscal Q1 2026, which beat the consensus estimate of -$1.2444, the stock declined by approximately 1.39% following the May 12, 2026, earnings release. This indicates persistent investor caution and uncertainty surrounding the clinical development progress, outweighing the positive financial surprise for a development-stage biotechnology company.

Show more
Updated on 6/12/2026

Corbus Pharmaceuticals (CRBP) stock has lost about 5% since 2/28/2026 because of the following key factors:

1. Increased Operating Expenses and Wider Net Loss: Corbus Pharmaceuticals reported a net loss of $23.0 million for fiscal Q1 2026 (ended March 31, 2026), compared to a net loss of $17.0 million for fiscal Q1 2025. This expansion of loss was primarily driven by a $4.5 million increase in operating expenses, which rose to $24.3 million, mainly due to higher clinical development spending.

2. Market Caution Despite Earnings Beat: Despite reporting a narrower-than-expected net loss of $1.23 per share for fiscal Q1 2026, which beat the consensus estimate of -$1.2444, the stock declined by approximately 1.39% following the May 12, 2026, earnings release. This indicates persistent investor caution and uncertainty surrounding the clinical development progress, outweighing the positive financial surprise for a development-stage biotechnology company.

3. Negative Future Earnings Expectations: Analysts project a further decrease in Corbus Pharmaceuticals' earnings per share, with expected losses widening from $4.87 per share to $6.36 per share in the upcoming year. This forecast of increasing losses contributes to a negative sentiment among investors, placing downward pressure on the stock price.

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Stock Movement Drivers

Fundamental Drivers

The -3.0% change in CRBP stock from 2/28/2026 to 6/22/2026 was primarily driven by a -34.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)22820266222026Change
Stock Price ($)8.578.31-3.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)1219-34.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/22/2026
ReturnCorrelation
CRBP-3.0% 
Market (SPY)8.8%29.1%
Sector (XLV)-5.9%34.4%

Fundamental Drivers

The -28.0% change in CRBP stock from 11/30/2025 to 6/22/2026 was primarily driven by a -34.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)113020256222026Change
Stock Price ($)11.548.31-28.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)1219-34.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/22/2026
ReturnCorrelation
CRBP-28.0% 
Market (SPY)9.5%25.9%
Sector (XLV)-4.0%32.3%

Fundamental Drivers

The 12.0% change in CRBP stock from 5/31/2025 to 6/22/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)53120256222026Change
Stock Price ($)7.428.3112.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)1219-34.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/22/2026
ReturnCorrelation
CRBP12.0% 
Market (SPY)27.7%16.4%
Sector (XLV)15.2%22.5%

Fundamental Drivers

The -12.2% change in CRBP stock from 5/31/2023 to 6/22/2026 was primarily driven by a -77.6% change in the company's Shares Outstanding (Mil).
(LTM values as of)53120236222026Change
Stock Price ($)9.478.31-12.2%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)419-77.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/22/2026
ReturnCorrelation
CRBP-12.2% 
Market (SPY)85.1%10.0%
Sector (XLV)23.4%13.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CRBP Return-51%-82%82%95%-31%1%-78%
Peers Return43%-20%3%78%-33%-12%24%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
CRBP Win Rate25%25%50%67%33%83% 
Peers Win Rate46%50%46%58%75%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
CRBP Max Drawdown-82%-84%-74%-81%-62%-39% 
Peers Max Drawdown-41%-46%-34%-26%-59%-39% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ATYR, AVLN, CNXU, COAG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/22/2026 (YTD)

How Low Can It Go

EventCRBPS&P 500
2025 US Tariff Shock
  % Loss-36.9%-18.8%
  % Gain to Breakeven58.5%23.1%
  Time to Breakeven21 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-51.8%-9.5%
  % Gain to Breakeven107.6%10.5%
  Time to Breakeven17 days24 days
2023 SVB Regional Banking Crisis
  % Loss-49.9%-6.7%
  % Gain to Breakeven99.5%7.1%
  Time to Breakeven6 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-83.5%-24.5%
  % Gain to Breakeven505.1%32.4%
  Time to Breakeven471 days427 days
2020 COVID-19 Crash
  % Loss-39.6%-33.7%
  % Gain to Breakeven65.7%50.9%
  Time to Breakeven24 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-31.8%-19.2%
  % Gain to Breakeven46.6%23.8%
  Time to Breakeven14 days105 days

Compare to VRTX, ATYR, AVLN, CNXU, COAG

In The Past

Corbus Pharmaceuticals's stock fell -36.9% during the 2025 US Tariff Shock. Such a loss loss requires a 58.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventCRBPS&P 500
2025 US Tariff Shock
  % Loss-36.9%-18.8%
  % Gain to Breakeven58.5%23.1%
  Time to Breakeven21 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-51.8%-9.5%
  % Gain to Breakeven107.6%10.5%
  Time to Breakeven17 days24 days
2023 SVB Regional Banking Crisis
  % Loss-49.9%-6.7%
  % Gain to Breakeven99.5%7.1%
  Time to Breakeven6 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-83.5%-24.5%
  % Gain to Breakeven505.1%32.4%
  Time to Breakeven471 days427 days
2020 COVID-19 Crash
  % Loss-39.6%-33.7%
  % Gain to Breakeven65.7%50.9%
  Time to Breakeven24 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-31.8%-19.2%
  % Gain to Breakeven46.6%23.8%
  Time to Breakeven14 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-30.0%-3.7%
  % Gain to Breakeven42.9%3.9%
  Time to Breakeven11 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-45.3%-12.2%
  % Gain to Breakeven82.9%13.9%
  Time to Breakeven56 days62 days
2014-2016 Oil Price Collapse
  % Loss-65.0%-6.8%
  % Gain to Breakeven185.7%7.3%
  Time to Breakeven106 days15 days

Compare to VRTX, ATYR, AVLN, CNXU, COAG

In The Past

Corbus Pharmaceuticals's stock fell -36.9% during the 2025 US Tariff Shock. Such a loss loss requires a 58.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Corbus Pharmaceuticals (CRBP)

Corbus Pharmaceuticals is a biopharmaceutical company dedicated to developing innovative immune modulators for the treatment of serious and often life-threatening diseases. Its core focus areas include immuno-oncology (targeting the immune system to fight cancer), various fibrotic diseases characterized by excessive tissue scarring, and metabolic disorders. The company aims to address significant unmet medical needs by leveraging its scientific expertise to bring new therapeutic solutions to patients.

The company's pipeline features several distinct drug candidates. Lenabasum, an oral compound, is currently undergoing Phase II clinical trials for systemic lupus erythematosus, acting by selectively activating cannabinoid receptor type 2 (CB2). Corbus is also developing CRB-601 and CRB-602, which are anti-integrin monoclonal antibodies designed to inhibit the activation of transforming growth factor ß (TGFß), a key protein implicated in cancer and fibrotic conditions. Additionally, the company has a cannabinoid receptor type 1 (CB1) inverse agonist program targeting a broad range of metabolic disorders, including obesity, diabetic complications, and nonalcoholic steatohepatitis (NASH), as well as various forms of organ fibrosis.

Corbus Pharmaceuticals primarily serves patients suffering from chronic and severe conditions within its therapeutic focus areas. This includes individuals with autoimmune diseases, various cancers, a spectrum of fibrotic diseases affecting major organs like the lungs, heart, and liver, and metabolic disorders such as obesity. The company operates within the global pharmaceutical market, striving to provide novel drug therapies to improve the quality of life and outcomes for these patient populations who currently have limited treatment options.

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Analogies for Corbus Pharmaceuticals (CRBP):

  • Corbus Pharmaceuticals is like an early-stage Vertex Pharmaceuticals, focused on discovering novel treatments for challenging diseases like lupus, cancer, and fibrosis.

  • Corbus Pharmaceuticals is like a smaller, R&D-focused Bristol Myers Squibb or Amgen, developing new drugs for immune-related, fibrotic, and metabolic diseases.

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  • Lenabasum: An oral molecule in Phase II clinical trials that activates cannabinoid receptor type 2 (CB2) for treating systemic lupus erythematosus.
  • CRB-601: An anti-integrin monoclonal antibody (mAb) designed to inhibit TGFß activation for the treatment of cancer and fibrosis.
  • CRB-602: An anti-avß6/avß8 mAb that blocks TGFß activation for the treatment of fibrotic diseases.
  • Cannabinoid Receptor Type 1 Inverse Agonist Program: A development program targeting metabolic disorders (e.g., obesity, diabetic nephropathy), fibrotic diseases (e.g., lung, liver fibrosis), and other conditions.

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Corbus Pharmaceuticals (CRBP) is a clinical-stage biopharmaceutical company focused on the research and development of drug candidates. Based on the provided description, the company's products are currently in clinical trials (e.g., Phase II for lenabasum) and have not yet received regulatory approval for commercial sale. Therefore, Corbus Pharmaceuticals does not currently have major customers, as it is focused on the development of its product pipeline rather than the sale of commercialized products to other companies or individuals.

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Jenrin Discovery, LLC

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Yuval Cohen, Ph.D., Chief Executive Officer and Director

Dr. Cohen joined Corbus as a co-founder and Chief Executive Officer in April 2014. Prior to Corbus, he was the President and co-founder of Celsus Therapeutics PLC (Nasdaq: CLTX) from 2005 to June 2013. Under his leadership, Celsus successfully developed five novel anti-inflammatory drug programs and completed a public listing in the United States in March 2013. Dr. Cohen holds a Ph.D., summa cum laude, from the Curie Institute of Cancer Research in Paris and the University of Paris V.

Sean Moran, CPA, MBA, Chief Financial Officer

Mr. Moran joined Corbus in January 2014 and has served as Chief Financial Officer since April 11, 2014. He brings over twenty-five years of senior financial experience with emerging biotechnology, drug delivery, and medical device companies. Mr. Moran has successfully managed operations from start-up through commercialization and profitability, completed three IPOs, and raised over $200 million of capital. Before joining Corbus, he was Chief Financial Officer for InVivo Therapeutics, Celsion Corporation, Echo Therapeutics, and Anika Therapeutics. Mr. Moran is a CPA and holds an MBA and a B.S. in Accounting from Babson College.

Ian Hodgson, Ph.D., Chief Operating Officer

Dr. Hodgson has served as Chief Operating Officer since March 15, 2025. He possesses over 25 years of experience in drug development and operations across various biotech, large pharmaceutical companies, and contract research organizations. Dr. Hodgson joined Corbus International Ltd. in October 2022 as Head of Clinical and European Operations and transitioned to Head of Operations in March 2024. His previous leadership positions include Vice President, Head of Clinical Services at TMC Pharma Services Ltd., Vice President, Clinical Development – Rare Diseases at Syneos Health, and Head of Clinical Operations at Mereo Biopharma. Dr. Hodgson earned a Ph.D. in Medical Microbiology from Queen Margaret University and a B.Sc. (Hons) in Food Technology from Reading University.

Dominic Smethurst, Chief Medical Officer

Dr. Smethurst has served as Chief Medical Officer since February 27, 2024.

G. Goeken, General Counsel & Corporate Secretary

Mr. Goeken is the General Counsel and Corporate Secretary at Corbus Pharmaceuticals, Inc., bringing over 20 years of experience in legal, pharmaceutical research, and regulatory strategy. In his current role, he provides comprehensive legal leadership across regulatory compliance, corporate governance, capital markets, risk management, and strategic advisory to the executive team. Previously, Mr. Goeken held senior roles at Corbus, including Vice President, Head of Regulatory Affairs, and Director of Regulatory CMC. He also spent 12 years at Pfizer, holding various technical and regulatory positions in formulation development, materials science, and regulatory affairs.

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Key Risks to Corbus Pharmaceuticals (CRBP)

  1. Clinical Trial Failure and Regulatory Approval Risk: Corbus Pharmaceuticals' lead drug candidate, lenabasum, is currently in a Phase II clinical trial. The company also has other pipeline candidates, CRB-601 and CRB-602, for which development stages are implied to be early. Biopharmaceutical development is characterized by high rates of failure in clinical trials across all phases. Even if clinical trials demonstrate efficacy and safety, there is no guarantee that lenabasum or any other pipeline candidate will receive the necessary regulatory approvals from health authorities, such as the FDA, to be commercialized. A failure in clinical trials or an inability to obtain regulatory approval for its key product candidates would severely impact the company's financial prospects and viability.
  2. Dependence on an Early-Stage and Limited Pipeline: Corbus Pharmaceuticals does not currently have any commercialized products. Its most advanced program, lenabasum, is still in Phase II. The other mentioned programs, CRB-601, CRB-602, and the cannabinoid receptor type 1 inverse agonist program, appear to be in even earlier stages of development. This places significant reliance on the successful and timely progression of a relatively small number of early-to-mid-stage drug candidates. The failure of even one key program, particularly lenabasum, could significantly diminish the company's value and future revenue potential, as there are no late-stage or commercialized products to offset such setbacks.
  3. Reliance on Licensed Intellectual Property: The company has a licensing agreement with Jenrin Discovery, LLC, covering a significant library of compounds and associated patent filings. This arrangement means that Corbus Pharmaceuticals is dependent on a third party for critical intellectual property that forms the basis of some of its development programs. Risks associated with this dependency include potential disputes over intellectual property rights, the possibility of the licensing agreement being terminated or amended on unfavorable terms, or challenges to the validity or enforceability of the licensed patents. Such issues could disrupt the development and commercialization of products derived from the Jenrin library and impact the company's competitive position.
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Corbus Pharmaceuticals (CRBP) Addressable Market Sizes

Corbus Pharmaceuticals (CRBP) targets several significant addressable markets for its main products and services.

  • Lenabasum (Systemic Lupus Erythematosus - SLE): The global systemic lupus erythematosus market was valued at approximately USD 2.7 billion in 2023 and is projected to reach USD 5.1 billion by 2032. The U.S. market alone for systemic lupus erythematosus was around USD 2.6 billion in 2023.
  • CRB-601 (Cancer and Fibrosis):
    • Cancer (Therapeutics): The global cancer therapeutics market was estimated at USD 194.67 billion in 2024 and is projected to reach approximately USD 469.38 billion by 2034. North America held the largest market share in 2024.
    • Fibrosis (General): For fibrosis, the market sizes of specific fibrotic diseases are provided below.
  • CRB-602 (Fibrotic Diseases):
    • Liver Fibrosis: The 7 Major Markets (7MM) liver fibrosis market reached a value of USD 2.5 billion in 2024 and is expected to reach USD 5.4 billion by 2035. The global liver fibrosis treatment market size is estimated at USD 18.32 billion in 2024 and is projected to hit around USD 52.26 billion by 2034. The U.S. liver fibrosis treatment market size was USD 4.87 billion in 2024 and is projected to be around USD 14.18 billion by 2034.
    • Kidney (Renal) Fibrosis: The global kidney fibrosis market size is estimated at USD 10.65 billion in 2025. The global diabetic nephropathy market size was valued at USD 3.74 billion in 2024 and is projected to reach USD 6.09 billion by 2032. North America was the largest region in the kidney fibrosis treatment market in 2025.
    • Lung Fibrosis (Idiopathic Pulmonary Fibrosis - IPF): The global idiopathic pulmonary fibrosis market size was valued at approximately USD 3,763.90 million in 2023 and is projected to reach USD 6,804.23 million by 2032. North America dominated this market with a 41.05% share in 2025.
    • Cardiac Fibrosis: null
  • Cannabinoid Receptor Type 1 Inverse Agonist Program (Metabolic Disorders, Fibrotic Diseases, and Other Diseases):
    • Obesity: null
    • Diabetic Nephropathy: (Refer to Kidney (Renal) Fibrosis above)
    • Diabetic Retinopathy: The global diabetic retinopathy market size was estimated at USD 9.48 billion in 2024 and is expected to grow to USD 13.77 billion by 2030. The U.S. diabetic retinopathy market was valued at USD 3.02 billion in 2024 and is expected to reach USD 4.92 billion by 2032.
    • Nonalcoholic Steatohepatitis (NASH): The global non-alcoholic steatohepatitis treatment market size was valued at USD 7.75 billion in 2024 and is projected to reach around USD 92.5 billion by 2034. North America dominated the global non-alcoholic steatohepatitis (NASH) treatment market with a 79% share in 2024.
    • Ascites: The global ascites market was valued at USD 23,556 million in 2024 and is expected to reach USD 37,627 million by 2033. North America is expected to lead this market, holding a 39.3% share in 2025.
    • Cognitive Defects: null
    • Prader-Willi Syndrome: The global Prader-Willi Syndrome market was valued at USD 1.12 billion in 2024 and is expected to reach USD 1.39 billion by 2032. The U.S. Prader-Willi Syndrome market was estimated to be approximately USD 500 million in 2023.
    • Smoking Cessation: The global smoking cessation and nicotine de-addiction market size was valued at USD 29.38 billion in 2024 and is expected to reach USD 92.41 billion by 2032. North America dominated the market in 2025, holding the largest revenue share of 45.2%.

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Corbus Pharmaceuticals (CRBP), a clinical-stage biopharmaceutical company, does not currently have commercial products generating revenue. Over the next 2-3 years, its future revenue growth is expected to be driven primarily by the successful clinical advancement and potential commercialization or partnering of its pipeline assets. Analysts project modest revenue for 2026, likely tied to potential milestone payments or collaborative agreements. Here are 3-5 expected drivers of future revenue growth for Corbus Pharmaceuticals:
  1. Clinical Advancement and Potential Commercialization of CRB-701 in Oncology: CRB-701, a next-generation Nectin-4 antibody-drug conjugate for solid tumors, is a key revenue growth driver. The company expects to initiate a registrational (Phase 2/3 or Phase 3) study for CRB-701 in head and neck squamous cell carcinoma (HNSCC) by mid-2026. CRB-701 has received FDA Fast Track designations for both HNSCC and cervical cancer, which could accelerate its development and review process. Encouraging objective response rates have been observed in Phase 1/2 studies across HNSCC, cervical cancer, and bladder cancer, with a favorable safety profile compared to peers. Further data readouts, including frontline combination data with KEYTRUDA by late 2026, are anticipated to provide clearer insights into its commercial potential.
  2. Successful Clinical Development and Potential Commercialization of CRB-913 for Obesity: CRB-913, an oral peripherally restricted CB1 inverse agonist for obesity, represents another significant growth driver. A 12-week, 240-patient Phase 1b study for CRB-913 is expected to complete by summer 2026, with multi-dose results anticipated by the end of summer 2026. Early Phase 1a data showed promising placebo-adjusted weight loss (approximately 2.9% at 14 days) and a favorable safety profile with low neuropsychiatric events and no reported nausea, vomiting, or constipation. Its "truly peripherally restricted" nature is highlighted as a potential differentiator, aiming to avoid the neuropsychiatric risks associated with earlier brain-penetrant CB1 agents.
  3. Strategic Collaborations and Milestone Payments: As a clinical-stage company, a significant portion of Corbus's near-term revenue growth is expected to come from upfront payments, development milestones, and potentially royalties from strategic partnerships or licensing agreements for its pipeline assets, particularly CRB-701 and CRB-913. Such collaborations are common in the biopharmaceutical industry for companies at this stage to fund further development and de-risk their programs.

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Share Issuance

  • In February 2024, Corbus Pharmaceuticals completed a public offering of common stock, raising approximately $94.5 million.
  • In the fourth quarter of 2025, Corbus Pharmaceuticals completed a public offering of common stock and pre-funded warrants, generating approximately $75 million in gross proceeds.
  • In March 2026, Corbus Pharmaceuticals filed a shelf registration statement, authorizing it to offer up to $300 million of various securities, including common stock, preferred stock, and warrants, in future offerings.

Capital Expenditures

  • Research and development expenses significantly increased to $70.1 million in 2025, more than double the $32.2 million incurred in 2024.
  • The primary focus of these expenditures is the clinical development of its pipeline, which includes oncology programs like CRB-701 and CRB-601, and the obesity program CRB-913.
  • The company anticipates that its existing cash reserves are sufficient to fund operations, primarily clinical development, into 2028.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Corbus Pharmaceuticals Earnings Notes12/16/2025
Title
0ARTICLES

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FOXAFox20.9-25.0%-32.1%
FOXFox19.1-23.7%-30.4%
NVCRNovoCure1.6-23.5%5.3%
NNNextNav2.2-23.2%-0.7%
BANDBandwidth1.6-22.2%228.9%
MHMcGraw Hill1.8-22.0%-44.4%

Top Gainers

TickerCompanyMkt Cap (B)1M RtnYTD Rtn
NVRIEnviri1.8299.1%335.0%
REPLReplimune1.0116.7%15.0%
APPSDigital Turbine1.1103.3%85.0%
SHAZSharonAI1.382.9%-0.6%
AMCAMC Entertainment1.581.6%76.9%
QUREuniQure2.880.4%85.5%
HYLNHyliion1.380.2%300.5%
DFTXDefinium Therapeutics, Inc.4.075.7%171.4%
BHVNBiohaven2.375.1%37.3%
DELLDell Technologies276.372.4%234.1%

Top Losers

TickerCompanyMkt Cap (B)1M RtnYTD Rtn
ADCTADC Therapeutics0.2-66.4%-69.1%
VRRMVerra Mobility0.7-66.3%-80.1%
CDChaince Digital0.3-49.0%-6.0%
SATLSatellogic0.8-41.6%203.5%
FULCFulcrum Therapeutics0.3-40.6%-66.7%
TMCRMetals Royalty0.4-39.5%-41.8%
SOCSable Offshore1.3-37.7%3.9%
BKSYBlackSky Technology1.0-37.4%52.2%
CELCCelcuity4.9-35.9%-9.8%
LUNRIntuitive Machines2.6-34.7%35.5%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

CRBPVRTXATYRAVLNCNXUCOAGMedian
NameCorbus P.Vertex P.aTyr Pha.Avalyn P.Conexeu .Hemab Th. 
Mkt Price8.31466.790.4732.9712.1831.7421.96
Mkt Cap0.2118.6----59.4
Rev LTM012,218--0-0
Op Inc LTM-904,662---5--5
FCF LTM-743,710---4--4
FCF 3Y Avg-511,977----963
CFO LTM-744,241---4--4
CFO 3Y Avg-512,401----1,175

Growth & Margins

CRBPVRTXATYRAVLNCNXUCOAGMedian
NameCorbus P.Vertex P.aTyr Pha.Avalyn P.Conexeu .Hemab Th. 
Rev Chg LTM-10.1%----10.1%
Rev Chg 3Y Avg-9.9%----9.9%
Rev Chg Q-7.8%----7.8%
QoQ Delta Rev Chg LTM-1.8%----1.8%
Op Inc Chg LTM-52.6%1,214.0%----580.7%
Op Inc Chg 3Y Avg-31.9%364.1%----166.1%
Op Mgn LTM-38.2%----38.2%
Op Mgn 3Y Avg-24.1%----24.1%
QoQ Delta Op Mgn LTM-0.2%----0.2%
CFO/Rev LTM-34.7%----34.7%
CFO/Rev 3Y Avg-21.5%----21.5%
FCF/Rev LTM-30.4%----30.4%
FCF/Rev 3Y Avg-17.7%----17.7%

Valuation

CRBPVRTXATYRAVLNCNXUCOAGMedian
NameCorbus P.Vertex P.aTyr Pha.Avalyn P.Conexeu .Hemab Th. 
Mkt Cap0.2118.6----59.4
P/S-9.7----9.7
P/Op Inc-1.725.4----11.9
P/EBIT-1.823.4----10.8
P/E-1.827.3----12.8
P/CFO-2.128.0----12.9
Total Yield-54.4%3.7%-----25.4%
Dividend Yield0.0%0.0%----0.0%
FCF Yield 3Y Avg-42.8%1.8%-----20.5%
D/E0.00.0----0.0
Net D/E-0.9-0.0-----0.5

Returns

CRBPVRTXATYRAVLNCNXUCOAGMedian
NameCorbus P.Vertex P.aTyr Pha.Avalyn P.Conexeu .Hemab Th. 
1M Rtn-26.8%7.4%-4.0%14.3%-15.4%22.6%1.7%
3M Rtn-1.4%3.4%-43.2%11.8%-15.4%-6.6%-4.0%
6M Rtn-0.4%1.4%-35.2%11.8%-15.4%-6.6%-3.5%
12M Rtn0.8%5.9%-91.0%11.8%-15.4%-6.6%-2.9%
3Y Rtn-5.5%34.5%-78.5%11.8%-15.4%-6.6%-6.1%
1M Excs Rtn-15.1%7.9%-11.9%17.1%-16.0%19.4%-2.0%
3M Excs Rtn-18.2%-12.0%-56.7%-3.1%-30.3%-21.5%-19.9%
6M Excs Rtn-9.2%-7.3%-44.9%0.6%-26.6%-17.8%-13.5%
12M Excs Rtn-24.9%-20.8%-115.9%-13.1%-40.4%-31.6%-28.3%
3Y Excs Rtn-65.8%-34.0%-149.6%-59.1%-86.3%-77.5%-71.7%

Comparison Analyses

null

Financials

$ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
Filing Date5/12/20263/9/202611/12/20258/5/20255/6/20253/11/202511/7/20248/6/20245/7/20243/12/202411/7/20238/8/2023
Key Financials Quarterly            
Total Revenue000000000000
Ebitda-24-21-23-18-20-9-13-9-6-7-9-8
Operating Income-24-22-24-19-20-13-16-11-10-10-9-8
Net Income-23-21-23-18-17-10-14-10-7-8-10-9
EPS-1.23-1.25-1.90-1.44-1.39-0.78-1.15-0.90-0.83-1.79-2.27-2.05
Key Financials TTM            
Total Revenue TTM000000000000
Ebitda TTM-86-81-70-60-52-38-35-31-29-41-38-37
Operating Income TTM-90-85-76-67-59-49-46-40-37-45-46-44
Net Income TTM-85-79-68-58-50-40-39-35-34-45-47-46
Growth Rates Quarterly            
Total Revenue Growth------------
EBITDA Growth-23.2%-118.2%-75.8%-91.5%-233.3%-35.3%-48.5%-20.7%65.5%-48.6%-10.8%-6.6%
Operating Income Growth-22.9%-74.3%-57.5%-74.3%-105.5%-24.8%-63.4%-34.2%44.4%6.4%-16.0%-11.6%
Net Income Growth-35.3%-115.7%-69.4%-76.7%-146.1%-18.8%-37.1%-13.8%61.1%26.3%-14.5%33.7%
Margins Quarterly            
EBITDA Margin------------
Operating Income Margin------------
Net Income Margin------------
Cash & Debt            
Total Cash138163104117133149159147120212937
Total Debt12223341517212324
Net Debt / (Cash)-137-162-102-114-130-146-156-132-103-0-6-13
Cash Flows Quarterly            
FCF from Operations-26-16-16-17-16-11-14-9-8-6-7-8
Cash Flows TTM            
FCF from Operations TTM-74-64-60-58-50-42-37-30-29-36-38-38
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-17.1%-16.2%-18.6%-15.1%-16.1%-10.6%-13.4%-9.8%-8.8%-9.4%-9.0%-7.9%
Return on Invested Capital (ROIC) TTM            
ROIC TTM-15.8%-15.8%-14.5%-13.2%-12.0%-10.3%-10.0%-9.0%-8.5%-10.5%-10.8%-10.7%

Segment Financials

Revenue by Segment
$ Mil20212020201920182017
Developing and commercializing therapeutics for cancer and obesity143652
Total143652


Assets by Segment
$ Mil20252024202320222021
Developing and commercializing therapeutics for cancer and obesity1681562866108
Total1681562866108


Price Behavior

Price Behavior
Market Price$8.31 
Market Cap ($ Bil)0.2 
First Trading Date11/11/2014 
Distance from 52W High-57.1% 
   50 Days200 Days
DMA Price$9.50$10.22
DMA Trendindeterminatedown
Distance from DMA-12.5%-18.7%
 3M1YR
Volatility96.4%81.9%
Downside Capture273.2773.37
Upside Capture149.1054.16
Correlation (SPY)22.1%15.2%
CRBP Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta2.192.102.021.641.031.13
Up Beta-4.89-0.291.482.401.221.35
Down Beta5.574.850.970.031.491.64
Up Capture9%96%193%113%56%72%
Bmk +ve Days13283667141432
Stock +ve Days11223158123358
Down Capture745%673%270%208%88%105%
Bmk -ve Days7132757109318
Stock -ve Days9183163119380

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CRBP
CRBP6.2%81.7%0.44-
Sector ETF (XLV)14.7%15.0%0.7021.3%
Equity (SPY)26.1%12.4%1.5914.7%
Gold (GLD)24.1%27.5%0.776.8%
Commodities (DBC)18.5%18.8%0.77-6.9%
Real Estate (VNQ)11.8%13.8%0.575.3%
Bitcoin (BTCUSD)-40.2%42.5%-1.0911.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CRBP
CRBP-32.8%159.0%0.27-
Sector ETF (XLV)5.5%14.7%0.1913.9%
Equity (SPY)13.4%17.1%0.6114.0%
Gold (GLD)17.1%18.3%0.763.0%
Commodities (DBC)7.5%19.4%0.284.2%
Real Estate (VNQ)2.1%18.9%0.0111.3%
Bitcoin (BTCUSD)9.4%54.1%0.3712.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CRBP
CRBP-20.7%128.9%0.31-
Sector ETF (XLV)9.5%16.6%0.4618.3%
Equity (SPY)15.4%18.0%0.7319.5%
Gold (GLD)12.2%16.1%0.623.8%
Commodities (DBC)6.0%18.0%0.268.2%
Real Estate (VNQ)5.4%20.7%0.2314.0%
Bitcoin (BTCUSD)59.9%66.8%1.008.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity1.5 Mil
Short Interest: % Change Since 515202627.9%
Average Daily Volume1.1 Mil
Days-to-Cover Short Interest1.4 days
Basic Shares Quantity18.7 Mil
Short % of Basic Shares8.2%

Earnings Returns History

Updated 6/15/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/12/20263.5%-9.9%-30.3%
3/9/202619.2%17.5%21.2%
11/12/20257.4%15.3%-6.9%
8/5/2025-4.7%-7.2%5.5%
5/6/2025-15.8%-3.5%14.2%
3/11/20251.3%2.5%-20.6%
11/7/2024-2.1%-3.9%-19.3%
8/6/2024-3.8%-4.8%0.6%
...
SUMMARY STATS   
# Positive101314
# Negative141110
Median Positive5.3%8.7%19.5%
Median Negative-5.0%-7.2%-20.0%
Max Positive19.2%34.7%143.5%
Max Negative-16.7%-37.3%-31.0%
 Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/12/20263.5%-9.9%-30.3%
3/9/202619.2%17.5%21.2%
11/12/20257.4%15.3%-6.9%
8/5/2025-4.7%-7.2%5.5%
5/6/2025-15.8%-3.5%14.2%
3/11/20251.3%2.5%-20.6%
11/7/2024-2.1%-3.9%-19.3%
8/6/2024-3.8%-4.8%0.6%
5/7/20242.4%10.4%21.1%
3/12/202416.5%8.7%-0.3%
11/7/2023-16.7%-37.3%17.9%
8/8/2023-0.2%1.5%7.3%
5/9/2023-12.4%3.7%-6.4%
3/7/2023-6.7%-21.1%143.5%
12/21/20227.8%1.0%27.3%
8/9/2022-4.5%-3.7%-25.1%
5/10/2022-2.7%12.3%10.5%
3/8/20227.1%34.7%53.1%
11/12/20211.0%-12.4%-31.0%
8/12/2021-5.3%-9.8%-10.5%
5/13/2021-6.7%8.7%46.3%
3/15/2021-2.6%0.9%-22.3%
11/10/20200.0%0.0%9.4%
8/6/2020-11.5%-0.6%31.2%
SUMMARY STATS   
# Positive101314
# Negative141110
Median Positive5.3%8.7%19.5%
Median Negative-5.0%-7.2%-20.0%
Max Positive19.2%34.7%143.5%
Max Negative-16.7%-37.3%-31.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/12/202610-Q
12/31/202503/09/202610-K
09/30/202511/12/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202403/11/202510-K
09/30/202411/07/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202303/12/202410-K
09/30/202311/07/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/07/202310-K
09/30/202211/08/202210-Q
06/30/202208/09/202210-Q
 Collapse to Preview
Report DateFiling DateFiling
03/31/202605/12/202610-Q
12/31/202503/09/202610-K
09/30/202511/12/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202403/11/202510-K
09/30/202411/07/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202303/12/202410-K
09/30/202311/07/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/07/202310-K
09/30/202211/08/202210-Q
06/30/202208/09/202210-Q
03/31/202205/10/202210-Q
12/31/202103/08/202210-K
09/30/202111/12/202110-Q
06/30/202108/12/202110-Q
03/31/202105/13/202110-Q
12/31/202003/15/202110-K
09/30/202011/09/202010-Q
06/30/202008/06/202010-Q
03/31/202005/11/202010-Q
12/31/201903/16/202010-K
09/30/201911/07/201910-Q
06/30/201908/08/201910-Q

Insider Activity

Updated 6/11/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Kung, Winston DirectSell61120267.912,02616,03396,072Form
2Altmeyer, Anne DirectSell61120267.912,41219,08859,978Form
3Jenkins, John Kenneth DirectSell61120267.914,80037,98630,333Form
4Saxena, Nishant CChief Business OfficerDirectBuy60320267.589,00068,220570,774Form
5Saxena, Nishant CChief Business OfficerDirectBuy60320267.334,50032,998486,178Form
 Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Kung, Winston DirectSell61120267.912,02616,03396,072Form
2Altmeyer, Anne DirectSell61120267.912,41219,08859,978Form
3Jenkins, John Kenneth DirectSell61120267.914,80037,98630,333Form
4Saxena, Nishant CChief Business OfficerDirectBuy60320267.589,00068,220570,774Form
5Saxena, Nishant CChief Business OfficerDirectBuy60320267.334,50032,998486,178Form
6Smethurst, DominicChief Medical OfficerDirectSell30420268.306,09750,601745,203Form
7Hodgson, IanChief Operating OfficerDirectSell21820267.388476,253377,124Form
8Moran, Sean FChief Financial OfficerDirectSell21820267.784,70136,588752,569Form
9Cohen, YuvalChief Executive OfficerDirectSell21820267.7813,871107,9521,356,632Form
10Smethurst, DominicChief Medical OfficerDirectSell20420268.093,28526,575775,707Form
11Hodgson, IanChief Operating OfficerDirectSell20420268.092,41519,537420,084Form
12Cormorant, Asset Management, LP See FootnotesSell1215202511.4630,029344,01226,863,988Form
13Cohen, YuvalChief Executive OfficerDirectSell1027202517.148,973153,7972,368,525Form
14Cohen, YuvalChief Executive OfficerDirectSell1027202517.0118,660317,4072,350,561Form
15Moran, Sean FChief Financial OfficerDirectSell1027202517.0212,981220,9371,247,787Form
16Altmeyer, Anne DirectSell1021202520.501,06021,730126,916Form
17Jenkins, John Kenneth DirectSell60220257.352,78320,465243Form
18Altmeyer, Anne DirectSell60220257.251,39210,09610,088Form

Industry Resources

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Core Cache Last Updated: 6/22/2026