Corbus Pharma (CRBP) Tops Q4 EPS by 15c, Revenues Miss

Corbus Pharma (NASDAQ: CRBP) reported Q4 EPS of ($0.10), $0.15 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $658 thousand versus the consensus estimate of $1.49 million.

Yuval Cohen, Ph.D., Chief Executive Officer said, “We are making progress on our plans to advance development of our internal compounds and expand our pipeline. We look forward to topline results from our DETERMINE Phase 3 study of lenabasum in dermatomyositis in the second quarter. Our CB1 inverse agonist program focusing on metabolic diseases and our CB2 agonist program focusing on oncology continue to progress pre-clinically, and we project to initiate clinical studies next year. We are determined to expand our pipeline and are evaluating a number of potential assets.”

Dr. Cohen continued, “We are fortunate to be in a strong financial position with approximately $127M of cash on hand, which is expected to fund the Company into the first quarter of 2024.”

For earnings history and earnings-related data on Corbus Pharma (CRBP) click here.

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