Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) didn’t report a great quarter in 1Q2016 as its net loss widened from a corresponding quarter a year ago. However, management is suggesting that there should be no cause for alarm because the future is glowing. But, what are some of the things that you can expect to her from Corbus’ management in the not-so-distant future?
When discussing the 1Q2016 results, Corbus’ CEO, Yuval Cohen, said that 2016 is a year they hope to continue focusing on advanced clinical and regulatory issues. As such, he predicted that if everything rolls out as expected, reports in key clinical programs should start flowing in 4Q2016.
For background, Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) is engaged in the development of treatments that harness the power of the immune system to combat life-threatening diseases. The company’s work is mainly focused on addressing areas with unmet medical needs. Corbus currently has three mid-stage studies that are ongoing and their topline data are expected before the end of the year.
The near-time targets that Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) hopes to hit include completing enrollment of patient in the U.S. Phase 2 trial of the compound targeting systemic sclerosis treatment. Additionally, the management hopes to complete the enrollment of patients into Phase 2 study of the treatment for CF.
Moreover, Corbus will be seeking to secure European Orphan Drug Designation for both its candidates for CF and systemic sclerosis.
Expanding the label for Resunab
If all goes according to plan, Corbus hopes to continue pushing for the expansion of the label for its drug called Resunab.
Sharing information with the industry
Management of Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) has figured out that participating in scientific conference could unlock massive potential for the company. As such, the company hopes to present or at least participate in various scientific conferences this year whether they are in North America or Europe.
What transpired in 1Q2016 for Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP)?
Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) posted a net loss of $2.9 million or EPS loss of $0.08. The loss widened from $0.06 in the corresponding quarter in 2015. According to the management, the jump in net loss in the latest quarter was caused by higher staffing costs and an increase in expenses related to clinical studies compared to a year ago.