Corbus Pharmaceuticals (CRBP)
Market Price (5/7/2026): $10.98 | Market Cap: $181.4 MilSector: Health Care | Industry: Biotechnology
Corbus Pharmaceuticals (CRBP)
Market Price (5/7/2026): $10.98Market Cap: $181.4 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -90% Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. | Weak multi-year price returns2Y Excs Rtn is -117%, 3Y Excs Rtn is -48% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -85 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -48% Key risksCRBP key risks include [1] a history of significant late-stage clinical trial failures, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -90% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -117%, 3Y Excs Rtn is -48% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -85 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -48% |
| Key risksCRBP key risks include [1] a history of significant late-stage clinical trial failures, Show more. |
Qualitative Assessment
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Corbus Pharmaceuticals (CRBP) stock has gained about 30% since 1/31/2026 because of the following key factors:
1. Positive Analyst Sentiment and Increased Price Targets.
Multiple Wall Street analysts have initiated or reiterated "Buy" or "Strong Buy" ratings for Corbus Pharmaceuticals, with an average 12-month price target ranging from $40.00 to $51.67, implying a substantial upside from the stock's recent trading prices. For instance, Guggenheim initiated coverage with a "Buy" rating and a $45.00 target price on April 29, 2026, while Oppenheimer increased its target from $53.00 to $57.00 on March 10, 2026. This reflects strong confidence from the investment community in the company's pipeline.
2. Broad FDA Alignment on Registrational Path for CRB-701.
On April 7, 2026, Corbus Pharmaceuticals announced broad alignment with the U.S. Food and Drug Administration (FDA) on the registrational study designs for CRB-701 in second-line Head and Neck Squamous Cell Carcinoma (HNSCC) and cervical cancer. This agreement enables potential accelerated approval using objective response rate (ORR) as the primary endpoint and potential full approval based on overall survival (OS) benefit. Updated monotherapy data for CRB-701 is scheduled for presentation at the ASCO 2026 Annual Meeting (May 29–June 2).
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1. Positive Analyst Sentiment and Increased Price Targets.
Multiple Wall Street analysts have initiated or reiterated "Buy" or "Strong Buy" ratings for Corbus Pharmaceuticals, with an average 12-month price target ranging from $40.00 to $51.67, implying a substantial upside from the stock's recent trading prices. For instance, Guggenheim initiated coverage with a "Buy" rating and a $45.00 target price on April 29, 2026, while Oppenheimer increased its target from $53.00 to $57.00 on March 10, 2026. This reflects strong confidence from the investment community in the company's pipeline.
2. Broad FDA Alignment on Registrational Path for CRB-701.
On April 7, 2026, Corbus Pharmaceuticals announced broad alignment with the U.S. Food and Drug Administration (FDA) on the registrational study designs for CRB-701 in second-line Head and Neck Squamous Cell Carcinoma (HNSCC) and cervical cancer. This agreement enables potential accelerated approval using objective response rate (ORR) as the primary endpoint and potential full approval based on overall survival (OS) benefit. Updated monotherapy data for CRB-701 is scheduled for presentation at the ASCO 2026 Annual Meeting (May 29–June 2).
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Stock Movement Drivers
Fundamental Drivers
The 32.0% change in CRBP stock from 1/31/2026 to 5/6/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.27 | 10.92 | 32.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 12 | 17 | -25.5% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 5/6/2026| Return | Correlation | |
|---|---|---|
| CRBP | 32.0% | |
| Market (SPY) | 3.6% | 39.1% |
| Sector (XLV) | -5.6% | 44.6% |
Fundamental Drivers
The -10.1% change in CRBP stock from 10/31/2025 to 5/6/2026 was primarily driven by a -25.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312025 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.15 | 10.92 | -10.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 12 | 17 | -25.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2025 to 5/6/2026| Return | Correlation | |
|---|---|---|
| CRBP | -10.1% | |
| Market (SPY) | 5.5% | 28.4% |
| Sector (XLV) | 1.6% | 36.5% |
Fundamental Drivers
The 46.2% change in CRBP stock from 4/30/2025 to 5/6/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.47 | 10.92 | 46.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 12 | 17 | -26.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2025 to 5/6/2026| Return | Correlation | |
|---|---|---|
| CRBP | 46.2% | |
| Market (SPY) | 30.4% | 21.7% |
| Sector (XLV) | 5.4% | 26.4% |
Fundamental Drivers
The 24.4% change in CRBP stock from 4/30/2023 to 5/6/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.78 | 10.92 | 24.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 4 | 17 | -74.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2023 to 5/6/2026| Return | Correlation | |
|---|---|---|
| CRBP | 24.4% | |
| Market (SPY) | 78.7% | 9.9% |
| Sector (XLV) | 14.5% | 13.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CRBP Return | -51% | -82% | 82% | 95% | -31% | 31% | -72% |
| Peers Return | -7% | 32% | 41% | -1% | 2% | 4% | 81% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 6% | 93% |
Monthly Win Rates [3] | |||||||
| CRBP Win Rate | 25% | 25% | 50% | 67% | 33% | 100% | |
| Peers Win Rate | 42% | 67% | 58% | 50% | 67% | 36% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| CRBP Max Drawdown | -52% | -82% | -35% | -2% | -58% | -9% | |
| Peers Max Drawdown | -25% | 0% | -2% | -3% | -23% | -9% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ALPS, AVLN, COAG, DFTX.
[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 5/6/2026 (YTD)
How Low Can It Go
| Event | CRBP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -36.9% | -18.8% |
| % Gain to Breakeven | 58.5% | 23.1% |
| Time to Breakeven | 21 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -51.8% | -9.5% |
| % Gain to Breakeven | 107.6% | 10.5% |
| Time to Breakeven | 17 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -49.9% | -6.7% |
| % Gain to Breakeven | 99.5% | 7.1% |
| Time to Breakeven | 6 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -83.5% | -24.5% |
| % Gain to Breakeven | 505.1% | 32.4% |
| Time to Breakeven | 471 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.6% | -33.7% |
| % Gain to Breakeven | 65.7% | 50.9% |
| Time to Breakeven | 24 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.8% | -19.2% |
| % Gain to Breakeven | 46.6% | 23.7% |
| Time to Breakeven | 14 days | 105 days |
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.
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| Event | CRBP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -36.9% | -18.8% |
| % Gain to Breakeven | 58.5% | 23.1% |
| Time to Breakeven | 21 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -51.8% | -9.5% |
| % Gain to Breakeven | 107.6% | 10.5% |
| Time to Breakeven | 17 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -49.9% | -6.7% |
| % Gain to Breakeven | 99.5% | 7.1% |
| Time to Breakeven | 6 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -83.5% | -24.5% |
| % Gain to Breakeven | 505.1% | 32.4% |
| Time to Breakeven | 471 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.6% | -33.7% |
| % Gain to Breakeven | 65.7% | 50.9% |
| Time to Breakeven | 24 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.8% | -19.2% |
| % Gain to Breakeven | 46.6% | 23.7% |
| Time to Breakeven | 14 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -30.0% | -3.7% |
| % Gain to Breakeven | 42.9% | 3.9% |
| Time to Breakeven | 11 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -45.3% | -12.2% |
| % Gain to Breakeven | 82.9% | 13.9% |
| Time to Breakeven | 56 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -65.0% | -6.8% |
| % Gain to Breakeven | 185.7% | 7.3% |
| Time to Breakeven | 106 days | 15 days |
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 Holdings, Inc., a biopharmaceutical company, focuses on the development of immune modulators for immuno-oncology and fibrosis diseases. It develops lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial to treat systemic lupus erythematosus; CRB-601, an anti-integrin monoclonal antibody (mAb) for the treatment of cancer and fibrosis that inhibits the activation of transforming growth factor ß (TGFß); and CRB-602, an anti-avß6/avß8 mAb that blocks the activation of TGFß for the treatment of fibrotic diseases. The company is also developing cannabinoid receptor type 1 inverse agonist program for the treatment of metabolic disorders, such as obesity, diabetic nephropathy, diabetic retinopathy, and nonalcoholic steatohepatitis; fibrotic diseases, including lung, cardiac, renal disease, and liver fibrosis; and other diseases comprising ascites, cognitive defects, Prader-Willi syndrome, and smoking cessation. It has a licensing agreement with Jenrin Discovery, LLC to develop and commercialize the licensed products, including the Jenrin library of approximately 600 compounds, and multiple issued and pending patent filings. The company was incorporated in 2009 and is based in Norwood, Massachusetts.
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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.
AI Analysis | Feedback
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.AI Analysis | Feedback
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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```htmlKey Risks to Corbus Pharmaceuticals (CRBP)
- 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.
- 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.
- 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) 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:- 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.
- 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.
- 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
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Corbus Pharmaceuticals Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.22 |
| Mkt Cap | 54.4 |
| Rev LTM | 0 |
| Op Inc LTM | -85 |
| FCF LTM | -64 |
| FCF 3Y Avg | -47 |
| CFO LTM | -64 |
| CFO 3Y Avg | -47 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.1% |
| Rev Chg 3Y Avg | 9.9% |
| Rev Chg Q | 7.8% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | -60.0% |
| Op Inc Chg 3Y Avg | -37.4% |
| Op Mgn LTM | 38.2% |
| Op Mgn 3Y Avg | 24.1% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 34.7% |
| CFO/Rev 3Y Avg | 21.5% |
| FCF/Rev LTM | 30.4% |
| FCF/Rev 3Y Avg | 17.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 54.4 |
| P/S | 8.9 |
| P/Op Inc | 10.6 |
| P/EBIT | 9.6 |
| P/E | 11.4 |
| P/CFO | 11.4 |
| Total Yield | -19.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -34.4% |
| D/E | 0.0 |
| Net D/E | -0.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.8% |
| 3M Rtn | -7.6% |
| 6M Rtn | -2.9% |
| 12M Rtn | -5.5% |
| 3Y Rtn | -1.1% |
| 1M Excs Rtn | -14.8% |
| 3M Excs Rtn | -14.6% |
| 6M Excs Rtn | -16.1% |
| 12M Excs Rtn | -40.0% |
| 3Y Excs Rtn | -67.8% |
Price Behavior
Price Behavior
| Market Price | $10.92 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 11/11/2014 | |
| Distance from 52W High | -43.6% | |
| 50 Days | 200 Days | |
| DMA Price | $9.52 | $10.27 |
| DMA Trend | up | up |
| Distance from DMA | 14.8% | 6.3% |
| 3M | 1YR | |
| Volatility | 71.1% | 74.0% |
| Downside Capture | 0.53 | 0.21 |
| Upside Capture | 205.90 | 95.13 |
| Correlation (SPY) | 38.2% | 21.1% |
CRBP Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.54 | 2.07 | 1.87 | 1.30 | 1.31 | 1.14 |
| Up Beta | 2.11 | 2.20 | 2.70 | 2.69 | 1.75 | 1.48 |
| Down Beta | -0.65 | 0.65 | 0.73 | 0.03 | 1.51 | 1.69 |
| Up Capture | 206% | 291% | 229% | 38% | 112% | 75% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 20 | 29 | 54 | 123 | 358 |
| Down Capture | 765% | 199% | 151% | 161% | 100% | 102% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 9 | 22 | 32 | 67 | 121 | 382 |
[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 | |
|---|---|---|---|---|
| CRBP | 56.5% | 75.5% | 0.92 | - |
| Sector ETF (XLV) | 7.2% | 15.7% | 0.25 | 26.2% |
| Equity (SPY) | 28.5% | 12.5% | 1.78 | 20.6% |
| Gold (GLD) | 40.6% | 27.2% | 1.23 | -1.2% |
| Commodities (DBC) | 50.9% | 18.0% | 2.20 | -9.1% |
| Real Estate (VNQ) | 12.8% | 13.5% | 0.65 | 9.0% |
| Bitcoin (BTCUSD) | -14.2% | 42.1% | -0.25 | 10.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CRBP | |
|---|---|---|---|---|
| CRBP | -27.2% | 158.5% | 0.32 | - |
| Sector ETF (XLV) | 5.3% | 14.6% | 0.19 | 13.7% |
| Equity (SPY) | 12.7% | 17.1% | 0.58 | 14.0% |
| Gold (GLD) | 21.0% | 17.9% | 0.96 | 2.6% |
| Commodities (DBC) | 13.9% | 19.1% | 0.60 | 4.5% |
| Real Estate (VNQ) | 3.5% | 18.8% | 0.09 | 11.5% |
| Bitcoin (BTCUSD) | 8.7% | 56.1% | 0.37 | 11.9% |
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 | -16.2% | 128.6% | 0.35 | - |
| Sector ETF (XLV) | 9.3% | 16.5% | 0.45 | 18.2% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 19.4% |
| Gold (GLD) | 13.7% | 16.0% | 0.71 | 3.4% |
| Commodities (DBC) | 9.5% | 17.7% | 0.45 | 8.4% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 14.2% |
| Bitcoin (BTCUSD) | 68.4% | 66.9% | 1.07 | 8.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/9/2026 | 19.2% | 17.5% | 21.2% |
| 11/12/2025 | 7.4% | 15.3% | -6.9% |
| 8/5/2025 | -4.7% | -7.2% | 5.5% |
| 3/11/2025 | 1.3% | 2.5% | -20.6% |
| 11/7/2024 | -2.1% | -3.9% | -19.3% |
| 8/6/2024 | -3.8% | -4.8% | 0.6% |
| 3/12/2024 | 16.5% | 8.7% | -0.3% |
| 11/7/2023 | -16.7% | -37.3% | 17.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 9 | 10 |
| # Negative | 10 | 9 | 8 |
| Median Positive | 7.2% | 2.5% | 19.5% |
| Median Negative | -4.6% | -7.2% | -20.0% |
| Max Positive | 19.2% | 34.7% | 143.5% |
| Max Negative | -16.7% | -37.3% | -31.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/12/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/9/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 CRB-913 SAD/MAD study completion | |||||||
| Q4 2025 CRB-913 Phase 1b study initiation | |||||||
| Q1 2026 FDA meeting for CRB-701 | |||||||
| 2028 Cash Runway | |||||||
| 2026 CRB-701 Phase 2/3 registrational study initiation | |||||||
Prior: Q3 2025 Earnings Reported 11/12/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 CRB-913 SAD/MAD study completion | |||||||
| Q4 2025 CRB-913 Phase 1b study initiation | |||||||
| Q1 2026 FDA meeting for CRB-701 | |||||||
| 2026 CRB-701 Phase 2/3 registrational study initiation | |||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Smethurst, Dominic | Chief Medical Officer | Direct | Sell | 3042026 | 8.30 | 6,097 | 50,601 | 745,203 | Form |
| 2 | Hodgson, Ian | Chief Operating Officer | Direct | Sell | 2182026 | 7.38 | 847 | 6,253 | 377,124 | Form |
| 3 | Moran, Sean F | Chief Financial Officer | Direct | Sell | 2182026 | 7.78 | 4,701 | 36,588 | 752,569 | Form |
| 4 | Cohen, Yuval | Chief Executive Officer | Direct | Sell | 2182026 | 7.78 | 13,871 | 107,952 | 1,356,632 | Form |
| 5 | Smethurst, Dominic | Chief Medical Officer | Direct | Sell | 2042026 | 8.09 | 3,285 | 26,575 | 775,707 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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