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Corbus Pharmaceuticals Q3 net loss widens on higher expenses

By Reuters News


Overview

  • US biotech reported higher Q3 net loss, driven by increased operating expenses

  • Company began dosing in registrational TEMPO-1 study for oropharyngeal cancer

  • Reported positive topline Phase 1b data for CRB-913 in obesity


Outlook

  • Company expects cash on hand to fund operations into 2028

  • Corbus expects to report sutantatug envedotin plus Keytruda data in 1L OPSCC in Q1 2027

  • Company plans to engage with FDA on CRB-913 development and possible combination with GLP-1 therapy


Result Drivers

  • LICENSING MILESTONE - Q3 operating expenses rose mainly due to a $15 mln milestone payment under CSPC agreement for sutantatug envedotin

  • R&D SPENDING - Operating expenses rose year-over-year, reflecting higher research and development costs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Loss

$37.75 mln

Q3 Loss Per Basic Share

$1.81

Q3 Operating Expenses

$38.82 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy."

  • Wall Street's median 12-month price target for Corbus Pharmaceuticals Holdings, Inc. is $35.00, about 894.3% above its November 9 closing price of $3.52


Reuters Recommended Reads

  • Nov 9 - Compass Therapeutics Q3 net loss widens on higher R&D expenses

  • Nov 9 - Bicara Therapeutics Q3 net loss widens on higher R&D costs

  • Nov 10 - Ovid Therapeutics Q3 net loss widens as R&D spending rises


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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