Categories Earnings, Health Care

Corbus Pharma’s Q1 results fall short of expectations

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) missed market expectations on revenue and earnings for the first quarter of 2019.

The company reported a net loss of approx. $26.2 million, or $0.43 per share, compared to approx. $11.6 million, or $0.21 per share, last year.

Revenue from awards increased by around $0.9 million to $1.9 million due to revenue recognized from the Development Award Agreement with the Cystic Fibrosis Foundation.

Operating expenses increased by around $15.6 million to $28.4 million, due to increased spending for clinical studies, cost to manufacture and supply Lenabasum for clinical trials, staffing costs, higher non-cash stock compensation expenses and a sub-royalty payment associated with Kaken Pharmaceuticals.

During the quarter, Corbus completed subject enrollment in the RESOLVE-1 Phase 3 study of lenabasum treatment for systemic sclerosis and the company expects to report topline results from this study in the summer of 2020.

Corbus also completed a licensing deal for lenabasum in Japan with Kaken Pharmaceuticals, and received an up-front payment for $27 million, with up to $173 million in potential milestones as well as double-digit royalties.

The company’s cash and cash equivalents balance increased by $48.2 million from December 31, 2018 to $89.9 million at March 31, 2019.

Shares of Corbus have gained 28% so far this year.


Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

ADBE Earnings: Adobe reports higher Q2 earnings; results beat estimates

Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in second-quarter 2024 revenue and earnings. The results also topped expectations. Second-quarter revenues came in at $5.31 billion,

Dollar Tree (DLTR): A look at the discount retailer’s growth initiatives at its namesake banner

Shares of Dollar Tree, Inc. (NASDAQ: DLTR) were down over 1% on Thursday. The stock has dropped 24% year-to-date. The company delivered sales and GAAP earnings growth for the first

Key highlights from Signet Jewelers’ (SIG) Q1 2025 earnings results

Signet Jewelers Limited (NYSE: SIG) reported first quarter 2025 earnings results today. Sales decreased 9.4% year-over-year to $1.5 billion. Sales were down 9.6% on a constant currency basis. Same-store sales

Add Comment
Viewing Highlight