Corbus Pharmaceuticals Holdings released their financial results for the first quarter of 2017 and gave out a business update to shareholders.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) posts their financial results for the first quarter of 2017 and gave out a business update to shareholders.
As quoted in the press release:
The Company also provided an update to its corporate progress, clinical status and anticipated milestones for anabasum, its novel synthetic oral endocannabinoid-mimetic drug that is designed to resolve chronic inflammation and halt fibrosis.
“We have made significant progress in both the corporate and clinical areas in the first quarter of 2017 and are in a strong financial position, which is expected to take us through key milestones for the Company over the next 20 months,” stated Yuval Cohen, Ph.D., Chief Executive Officer of the Company.
Systemic Sclerosis Clinical Program Update
Corbus reported positive topline data results from a Phase 2 study in diffuse cutaneous systemic sclerosis (“systemic sclerosis”) in November 2016, showing a clear signal of clinical benefit with anabasum. The 12-month open-label extension of this Phase 2 study is ongoing and is designed to capture long-term safety and efficacy data in subjects dosed with anabasum 20 mg twice per day. To date, subjects have been safely dosed with anabasum for up to 10 months and Corbus intends to present data at the 2017 American College of Rheumatology (“ACR”) Annual Meeting.
Following an end-of-Phase 2 meeting with the U.S. Food and Drug Administration (“FDA”), Corbus submitted a protocol to the FDA for its Phase 3 study in systemic sclerosis on March 31, 2017, and is moving forward as planned. The Company expects to commence this study in the fourth quarter of 2017. Protocol assistance from the European Medicines Agency (“EMA”) on the Phase 3 study design is expected in the second quarter of 2017.