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Corbus Pharmaceuticals Holdings Inc. (CRBP-3.56%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines Corbus' operations as an oncology and obesity company, highlighting its pipeline which includes CRB-701, CRB-601, and CRB-913. CRB-701 is a next-generation antibody drug conjugate targeting Nectin-4 on cancer cells, CRB-601 is an anti-integrin monoclonal antibody, and CRB-913 is a cannabinoid receptor inverse agonist for obesity treatment.
Corbus reported a net loss of $40.2 million for the year, compared to a net loss of $44.6 million in 2023. The company attributes this to ongoing research and development expenses, which totaled $32.2 million, and general and administrative expenses of $16.5 million.
The company raised approximately $180.2 million through an open market sale agreement and a public offering, which has helped maintain a cash position of $149.1 million as of December 31, 2024.
Corbus' research and development efforts are focused on advancing its clinical trials for CRB-701 and CRB-601, with CRB-701 undergoing Phase 1 trials in the U.S. and U.K., and CRB-601 in a Phase 1 trial in the U.S.
Corbus has entered into several licensing agreements, including with CSPC Megalith Biopharmaceutical Co. Ltd. for CRB-701, and with the Regents of the University of California for CRB-601, which include milestone payments and royalties based on the success of the development and commercialization of these drugs.
The company acknowledges the need for substantial additional capital to continue its operations and advance its product candidates through the clinical development process.
Corbus highlights risks related to its business, including the need for regulatory approvals, competition from other biotechnology companies, and the ongoing requirement to raise additional capital.
The company does not anticipate paying dividends in the foreseeable future, opting instead to reinvest in its research and development programs.
Corbus continues to focus on its strategic goal of developing innovative treatments for serious illnesses, with a commitment to advancing its pipeline through clinical trials and eventual commercialization.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Corbus Pharmaceuticals Holdings Inc. annual 10-K report dated March 11, 2025. To report an error, please email earnings@qz.com.