Running Clinical Trials Full Steam With $46 Million Banked in Late February.
Not thinly, but lightly traded. Ready, locked and loaded.
All of the common stock was sold at a public offering price of $6.00 per share for a total public offering size of approximately $46 million, before deducting underwriting discounts and offering expenses. Jefferies and RBC Capital Markets acted as joint book-running managers for the offering. Oppenheimer & Co. acted as lead manager. Nomura and H.C. Wainwright & Co. acted as co-managers for the offering.
“Our focus on the endocannabinoid system is backed by an ever-expanding body of research and robust underlying science based on the endocannabinoid system as a master regulator of inflammation and fibrosis in the body.”
In our ongoing efforts to ferret out big news before it is news, (on things related to inflammation – particularly lung inflammation these days), we came across Corbis Pharma (CRBP) and its treatment called Lenabasum. Unlike many anti-inflammatory drugs, Lenabasum does not suppress the immune system.
NIFTY CORPORATE VIDEO
Corbis has received $30 million to date from the Cystic Fibrosis Foundation..
In more technical terms: “Lenabasum is a rationally-designed, oral, small-molecule that selectively binds as an agonist to the cannabinoid receptor type 2 (CB2). CB2 is preferentially expressed on activated immune cells, fibroblasts, muscle cells and endothelial cells. In both animal and human studies conducted to-date, lenabasum induces the production of Specialized Pro-resolving lipid Mediators (“SPMs”) that activate endogenous pathways which resolve inflammation and speed bacterial clearance without immunosuppression. Lenabasum demonstrates activity in animal models of skin and lung inflammation…“
More to come, here is the most recent shareholder letter/update:
Corbus Pharmaceuticals Reports Fourth Quarter and Year-End 2019 Financial Results
Topline results for Phase 3 study in systemic sclerosis on schedule for summer of 2020 followed by Phase 2b study results in cystic fibrosis
Completed $46 million public offering in February 2020
Company to host conference call and webcast today, March 12 at 8:30 am ET
Norwood, MA, March 12, 2020 (GLOBE NEWSWIRE) — Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (“Corbus” or the “Company”), a clinical-stage drug development company pioneering transformative medicines that target the endocannabinoid system, today reported financial results for the fourth quarter and year ended December 31, 2019. The Company also provided clinical and corporate updates.
“We are poised for a transformational year in 2020 with four expected data readouts, including topline data in our Phase 3 study for systemic sclerosis this summer,” commented Yuval Cohen, Ph.D., Chief Executive Officer. “We are preparing for commercialization and the recently completed public offering has strengthened our balance sheet. We remain committed to advancing our additional programs to treat inflammatory, fibrotic and metabolic diseases.”
2019 and Recent Clinical and Corporate Highlights and Achievements: