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CRBP

Corbus Pharmaceuticals

$6.38

-0.17 (-2.60%)

10:04
01/03/19
01/03
10:04
01/03/19
10:04

Corbus announces collaboration with Kaken to commercialize Lenabasum in Japan

Corbus Pharmaceuticals announced that they have entered into a strategic collaboration with Kaken Pharmaceutical Co. for the development and commercialization in Japan of Corbus' investigational drug lenabasum for the treatment of systemic sclerosis and dermatomyositis, two rare and serious autoimmune diseases. Under the terms of the agreement, Kaken receives an exclusive license to commercialize and market lenabasum in Japan for systemic sclerosis and dermatomyositis. Kaken will make an upfront payment to Corbus of $27M. Corbus will be eligible to receive in addition up to $173M upon achievement of certain regulatory, development and sales milestones as well as double-digit royalties. Current patient numbers for systemic sclerosis and dermatomyositis1 in Japan are 28,000 and 9,000, respectively, according to the companies. Yuval Cohen, PhD., CEO of Corbus, said, "Kaken is a well-regarded leader in rare autoimmune diseases in Japan with a proud history of scientific and medical innovation. By working together, we believe we can expand the Japanese footprint for lenabasum alongside Corbus' ongoing efforts in the U.S. and E.U. This collaboration is an important next step in achieving our vision of becoming the global leader in treating inflammatory diseases by focusing on the endocannabinoid system."

CRBP Corbus Pharmaceuticals
$6.38

-0.17 (-2.60%)

12/26/18
12/26/18
NO CHANGE

Fly Intel: Top five analyst actions
Catch up on today's top five analyst actions with this list compiled by The Fly: 1. Marine Products (MPX) upgraded to Neutral from Sell at B. Riley FBR. 2. Oracle (ORCL) upgraded to Buy from Hold at Standpoint Research. 3. Mindbody (MB) downgraded to Neutral from Buy at DA Davidson with analyst Rishi Jaluria saying the Vista Equity Partners deal's implied 6.0-times enterprise value to expected FY19 revenue multiple is "in line with recent private equity M&A in software." 4. NeuroMetrix (NURO) initiated with a Buy at H.C. Wainwright. 5. Corbus Pharmaceuticals (CRBP) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/26/18
HCWC
12/26/18
INITIATION
Target $24
HCWC
Buy
Corbus Pharmaceuticals initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Andrew Fein initiated Corbus Pharmaceuticals with a Buy rating and $24 price target, stating that while he is focused on the ability of lenabasum to address inflammation in cystic fibrosis, the drug is also being studied in systemic sclerosis and dermatomyositis and that success in either of those indications would be sufficient to drive upside from current levels.
12/07/18
RBCM
12/07/18
INITIATION
Target $23
RBCM
Outperform
Corbus Pharmaceuticals initiated with an Outperform at RBC Capital
RBC Capital analyst Brian Abrahams initiated Corbus Pharmaceuticals with an Outperform rating and a price target of $23. The analyst believes that the current valuation on its stock "substantially underappreciates the broad potential of lead drug lenabasum across multiple high unmet need autoimmune/inflammatory conditions". Abrahams also sees potential for share appreciation ahead of the company's late-stage readouts, with "significant upside" coming in late 2019 and early 2020 if Corbus' Phase 2 trial data show benefits in systemic sclerosis and dermatomyositis studies.
10/24/18
10/24/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with an Outperform at JMP Securities. 2. Comcast (CMCSA) resumed with a Buy at Deutsche Bank, reinstated with a Buy at Citi, and assumed with a Neutral at Guggenheim. 3. 2U (TWOU) initiated with a Buy at Needham. 4. Corbus Pharmaceuticals (CRBP) initiated with a Buy at B. Riley FBR. 5. Entasis Therapeutics (ETTX) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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ETNB

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WFC

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DIS

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MDT

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BR

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MCD

McDonald's

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CSCO

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RCL

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MRK

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AMZN

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HCA

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TM

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F

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HMC

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VWAGY

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BMWYY

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MDCO

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1.03 (2.02%)

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CVET

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CMCSK

Comcast

$0.00

(0.00%)

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CMCSA

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VIAB

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0.59 (2.62%)

VIA

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1.28 (5.06%)

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  • 09

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CWK

Cushman & Wakefield

$19.10

0.1 (0.53%)

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  • 12

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LMT

Lockheed Martin

$393.52

3.305 (0.85%)

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Lockheed Martin awarded maximum $3.33B Air Force contract »

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ESCA

Escalade

$10.90

-0.09 (-0.82%)

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CZR

Caesars

$12.96

0.1 (0.78%)

, ERI

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$52.10

0.93 (1.82%)

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CZR

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0.1 (0.78%)

ERI

Eldorado Resorts

$52.10

0.93 (1.82%)

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  • 15

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EGRX

Eagle Pharmaceuticals

$57.24

0.55 (0.97%)

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FN

Fabrinet

$60.82

0.84 (1.40%)

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Fabrinet President Gill sells 12.9K shares of common stock »

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  • 12

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TEUM

Pareteum

$0.38

-0.0209 (-5.21%)

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HEXO

Hexo

$1.78

-0.1 (-5.32%)

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AMGN

Amgen

$220.84

2.29 (1.05%)

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Celgene

$110.02

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AMGN

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$220.84

2.29 (1.05%)

CELG

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$110.02

-0.01 (-0.01%)

BMY

Bristol-Myers

$58.61

0.11 (0.19%)

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RAVE

Rave Restaurant

$1.44

-0.79 (-35.43%)

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CHAP

Chaparral Energy

$0.89

-0.0521 (-5.52%)

16:46
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Chaparral Energy receives continued listing standard notice from NYSE »

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