Research Driven Investing (RDI) has initiated coverage on Corbus Pharmaceuticals Holdings, Inc. (CRBP) with a Neutral rating. Corbus Pharmaceuticals late-stage stage clinical pharmaceutical company that is focused on the development and commercialization of unique medicines aimed at treating inflammatory and fibrotic diseases.
Based in Norwood, Massachusetts, the company’s lead product is JBT-101, an oral endocannabinoid-mimetic drug. JBT-101 is currently in Phase 2 trials for the treatment of systemic sclerosis, cystic fibrosis, diffuse cutaneous, skin-predominant dermatomyositis, and systemic lupus erythematosus diseases.
The company’s stock took a slight tumble on Tuesday, falling 11.89% to close out the day at $8.15. The stock’s 50-day moving average is $7.83, which is slightly greater than its 200-day moving average of $7.06. The company’s stock has recorded a trading volume of 4,306,752 shares, well above its three month average of 789,806 shares. In the last year, Corbus Pharmaceuticals shares have traded between $5.30-$10.50. Overall, the company stock has gained approximately 53.77% in value from its 52 week low. In the past month, the the company’s stock has risen 14.79% in value.
Research Driven Investing is a New York based firm which provides equity reports for investors with short term and long-term growth opportunities. Specializing in Large-Cap Equity Reports, RDI provides retail investors with company and industry specific research across technology, consumer products & retail, health care, natural resources & energy, and foreign issuers. RDI also covers companies with a smaller market capitalization, usually between $20-$100 million, that other brokerage firms may be inclined to ignore.
On Jan. 30, 2018, Corbus Pharmaceuticals announced that it had received a Development Award for up to $25 million from the Cystic Fibrosis Foundation. With the Development Award, the company plans to execute its Phase 2b study of lenabasum, formerly known as anabasum, in the treatment of cystic fibrosis patients who are 12 years in age or older.
“We believe this award highlights the potential for lenabasum to serve as an important therapy for people living with CF by targeting a critical unmet need in all CF patients. We are grateful to the CF Foundation for expanding its support for our CF clinical program, including our Phase 2b clinical development program in which the event rate of pulmonary exacerbations will be the primary efficacy endpoint,” commented Yuval Cohen, Ph.D., CEO of Corbus, in a statement.