Corbus Pharmaceuticals Holdings Inc CRBP shares were plummeting hard Tuesday following an adverse clinical data readout.
Should I buy corbus stock?
The consensus among Wall Street research analysts is that investors should "hold" Corbus Pharmaceuticals stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CRBP, but not buy additional shares or sell existing shares.
Will Crbp stock go up?
The Corbus Pharmaceuticals Holdings stock price gained 2.78% on the last trading day (Tuesday, 19th Apr 2022), rising from $0.36 to $0.37....Predicted Opening Price for Corbus Pharmaceuticals Holdings of Wednesday, April 20, 2022.Fair opening price April 20, 2022Current price$0.37$0.37 (Undervalued)
What is corbus Pharmaceuticals working on?
Our Commitment. We are committed to leveraging our expertise in immunology to fulfill our purpose of developing innovative new medicines that improve the lives of people living with inflammatory, fibrotic, and metabolic diseases, and cancer.
What is Lenabasum?
Lenabasum (formerly anabasum, resunab, and JBT-101) is a synthetic investigational compound that Corbus Pharmaceuticals is developing to resolve chronic inflammation in patients with cystic fibrosis.Feb 18, 2021
Where is corbus Pharmaceuticals located?
Norwood, MassachusettsWe are focused on connecting innovation to purpose. Corbus is based in Norwood, Massachusetts.
Who owns corbus pharmaceuticals?
Top 10 Owners of Corbus Pharmaceuticals Holdings IncStockholderStakeShares ownedThe Vanguard Group, Inc.4.26%5,331,983Knoll Capital Management LP4.03%5,045,870Global X Management Co. LLC2.69%3,364,056BlackRock Fund Advisors1.98%2,475,2996 more rows
What does corbus pharmaceuticals make?
Description. Corbus Pharmaceuticals Holdings, Inc., a clinical-stage pharmaceutical company, focuses on the development and commercialization of novel therapeutics that target the endocannabinoid system in the fields of autoimmunity, fibrosis, and cancer.
What is pharmaceutical catalyst?
Catalyst Pharmaceuticals is a commercial-stage biopharmaceutical company focused on in-licensing, developing, and commercializing novel medicines for patients living with rare diseases.
Is Lenabasum FDA approved?
Lenabasum was granted Orphan Drug Designation for the treatment of dermatomyositis from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).Mar 30, 2021
A late-stage clinical failure is weighing heavily on the biotech's stock today
George Budwell has been writing about healthcare and biotechnology companies at the Motley Fool since 2013. His primary interests are novel small molecule drugs, next generation vaccines, and cell therapies.
What happened
Shares of the clinical-stage biotech Corbus Pharmaceuticals Holdings ( NASDAQ:CRBP) fell by as much as 77% in pre-market trading Tuesday morning. The drugmaker's shares are tanking this morning in response to a negative late-stage readout for lenabasum in patients with a rare autoimmune disorder known as diffuse cutaneous systemic sclerosis (SSc).
So what
Lenabasum stood to become the first ever FDA-approved treatment for SSc. Corbus, in turn, would have more than likely had a blockbuster drug on its hands if the drug had passed this critical test.
Now what
Should bargain hunters pounce on this biotech stock today? Lenabasum may ultimately redeem itself in another high-value indication. Corbus, after all, isn't that far off from releasing the drug's top-line results in cystic fibrosis. That's the good news.
What is the CRBP mAb?
Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP) has announced licensing deals for two new monoclonal antibodies (mAbs), CRB-601 and CRB-602, that target integrins to inhibit activation of transforming growth factor β (TGFβ). TGFβ is a multifunctional cytokine involved in many cellular processes, including cell growth and differentiation, immune responses, wound healing, and tissue repair. CRB-601 is an anti- α vβ8 mAb expressed by cancer cells. Corbus plans to develop CRB-601 to treat solid t
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What is the next step for Corbus?
This study is scheduled to wrap up in 2020. Corbus also plans to start another phase 3 study for lenabasum in treating dermatomyositis by the end of 2018.
When will Corbus start Phase 3?
Corbus also plans to start another phase 3 study for lenabasum in treating dermatomyositis by the end of 2018. The company's prospects still largely ride on how lenabasum fares in these late-stage studies.
Who is the president of Corbus?
Mark Tepper, Corbus' president, said that the pipeline could "support the advancement of one to two new drug candidates into clinical testing each year starting in 2020.". If Tepper is right, it's fantastic news for Corbus. Before the deal with Jenrin, Corbus had only one candidate in its pipeline: lenabasum.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, August 19, 2021, and so far it has risen 12.39%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss
Corbus Pharmaceuticals Holdings finds support from accumulated volume at $1.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
Is Corbus Pharmaceuticals Holdings stock A Buy?
Corbus Pharmaceuticals Holdings holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.