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CRBP

Corbus Pharmaceuticals

$4.45

0.15 (3.49%)

08:30
11/18/19
11/18
08:30
11/18/19
08:30

Corbus Pharmaceuticals completes enrollment of Phase 2b study of lenabasum

Corbus Pharmaceuticals Holdings announced the completion of patient enrollment in the Phase 2b study evaluating the efficacy and safety of lenabasum for the treatment of cystic fibrosis. The Company expects to report topline data from this study in the summer of 2020. Lenabasum has Orphan Drug Designation and Fast Track status for treatment of CF. Corbus has enrolled 426 individuals with CF in the Phase 2b international, multicenter, randomized, double-blind, placebo-controlled study that is being conducted in North America, Europe, and Israel. Patients in the study are randomized 1:2:2 to either receive lenabasum 5 mg twice per day, lenabasum 20 mg twice per day or placebo twice per day for 28 weeks, with 4 weeks follow-up off active treatment. The primary efficacy endpoint of the Phase 2b CF study is the event rate of pulmonary exacerbation. Secondary efficacy outcomes include other measures of pulmonary exacerbations, change in forced expiratory volume in 1 second, % predicted, and change in Cystic Fibrosis Questionnaire-Revised respiratory domain score. The Phase 2b CF study is funded in part by a Development Award for up to $25M from the Cystic Fibrosis Foundation. Lenabasum was granted Orphan Drug Designation for the treatment of CF by the FDA, Orphan Designation by the European Medicines Agency and granted Fast Track status by the FDA. Lenabasum is not approved for the treatment of cystic fibrosis.

CRBP Corbus Pharmaceuticals
$4.45

0.15 (3.49%)

03/19/19
OPCO
03/19/19
INITIATION
Target $28
OPCO
Outperform
Corbus jumps over 10% after Oppenheimer starts with $28 price target
Shares of Corbus Pharmaceuticals are moving higher after Oppenheimer analyst Leland Gershell initiated coverage of the name with an Outperform rating and $28 price target. The stock in early trading is up 10%, or 69c, to $7.56. The next 12-24 months could be transformational for Corbus, as ongoing late-stage trials of lead oral cannabinoid receptor agonist lenabasum in three "rare, poorly met disorders" of chronic inflammation/fibrosis complete their enrollment and deliver top-line data, Gershell told investors last night in a research note. Results from the 350 patient Resolve-1 trial, expected in mid-2020, could enable lenabasum to address a ~920M market opportunity, contends the analyst. Further, lenabasum has demonstrated positive prior clinical data in dermatomyositis and cystic fibrosis as well, each of which offers $500M to $1B in sales potential, according to Gershell.
04/05/19
JEFF
04/05/19
INITIATION
Target $18
JEFF
Buy
Corbus Pharmaceuticals initiated with a Buy at Jefferies
Jefferies analyst Maury Raycroft initiated Corbus Pharmaceuticals with a Buy rating and $18 price target.
04/05/19
04/05/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wex (WEX) initiated with a Neutral at Baird. 2. Restaurant Brands (QSR) initiated with an Outperform at Bernstein. 3. Corbus Pharmaceuticals (CRBP) initiated with a Buy at Jefferies. 4. Trex Company (TREX) initiated with a Buy at DA Davidson. 5. Regis (RGS) initiated with a Buy at Loop Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/22/19
JMPS
04/22/19
NO CHANGE
Target $27
JMPS
Outperform
Corbus Phase 3 scleroderma study change a 'surprise move,' says JMP Securities
JMP Securities analyst Liisa Bayko said Corbus Pharmaceuticals' decision to change the endpoint and lower the statistical bar in its ongoing Phase 3 scleroderma study was "a surprise move," albeit one that will appease some investors who were concerned about the Phase 3 endpoint being different than that of Phase 2. However, her enthusiasm is balanced by concerns that this move is taken "at risk," with the FDA having said it will consider the totality of the data for approval. If lenabasum can see results similar to the Phase 2 in this larger, longer study, she believes the drug "should be in good shape for approval" and continues to recommend Corbus shares with an Outperform rating and $27 price target.

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SRPT

Sarepta

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-1.15 (-1.13%)

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