On August 6, 2026 Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) ("Corbus" or the "Company"), a clinical-stage company focused on developing new therapies in oncology and obesity, reported a corporate update and reported financial results for the 2026 second quarter ended June 30, 2026.
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"We’ve continued to build momentum as we prepare for two potentially impactful clinical development milestones in September: commencing enrollment of TEMPO-1, our Phase 3 study of CRB-701 in oropharyngeal cancer, and the data readout of CANYON-1, our Phase 1b study of CRB-913 in obesity. Both programs represent opportunities to address areas of significant unmet medical need," said Yuval Cohen, Ph.D., Chief Executive Officer of Corbus. "CRB-701 has the potential to bring a much-needed therapeutic option for the growing oropharyngeal cancer patient population, for whom approved and other investigational therapies have shown little promise. CRB-913 is a unique daily oral obesity drug candidate with a mechanism of action entirely orthogonal to the GLP-1 class and with the potential for both weight loss and long-term weight management. We look forward to a productive second half of 2026 as we work to improve patient outcomes and generate meaningful value for shareholders."
Key Corporate and Program Updates
CRB-701 is a next-generation, highly stable Nectin-4 targeting antibody drug conjugate (ADC) being developed to treat oropharyngeal squamous cell carcinoma (OPSCC), a type of head and neck squamous cell carcinoma (HNSCC), as well as cervical cancer. The U.S. Food and Drug Administration (FDA) has granted Fast Track designations to CRB-701 for the treatment of both cancer types. CRB-701 is licensed from CSPC Megalith Biopharmaceutical Co. Ltd. China.
Obtained FDA clearance to proceed with TEMPO-1 registrational study (n=250) of CRB-701 in 2L OPSCC, representing the first registrational trial specifically designed to evaluate a targeted treatment in this patient population.
Expect to commence enrollment in the TEMPO-1 study in September 2026.
Reported 2L+ monotherapy data from the Phase 1/2 study of CRB-701 in HNSCC and cervical cancers at the 2026 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting. Link here for press release with more details.
Anticipate reporting CRB-701 + Keytruda combination data in first-line (1L) settings in OPSCC patients in Q1 2027 to support potential further registration-enabling trials in the front line.
CRB-913 is a highly peripherally restricted oral CB1 inverse agonist for the treatment of obesity.
Concluded last patient last visit in the CANYON-1 Phase 1b clinical trial of CRB-913 for the treatment of obesity. The CANYON-1 study followed 240 patients over a 12-week treatment period followed by a 4-week safety follow-up.
On track to report topline data from CANYON-1 Phase 1b study in September 2026.
Corporate Appointments
Corbus strengthened its leadership team and Board of Directors with several key appointments in the second quarter of 2026.
Leonardo Viana Nicacio, M.D. as Chief Medical Officer. Dr. Nicacio previously served as Chief Medical Officer at Protara Therapeutics and Senior Vice President, Head of Clinical Development and Global Medical Affairs at Stemline Therapeutics. He also held roles of increasing responsibility at Seagen (acquired by Pfizer), most recently as Vice President of Clinical Development, overseeing programs across a range of cancers, including bladder, breast, gynecologic, lung, colorectal, and head and neck cancers, and most notably the development of a therapeutic for metastatic cervical cancer, TIVDAK.
Nishant Saxena as Chief Business Officer. Mr. Saxena most recently served as Chief Financial Officer at Jeune Aesthetics, Inc., a wholly owned subsidiary of Krystal Biotech, Inc. Previously, he served as a Managing Director in Evercore’s healthcare group, where he advised on transactions totaling over $500 billion in aggregate value. Earlier in his career, Mr. Saxena held positions of increasing responsibility in private equity, venture capital, and investment advisory firms.
Brent Pfeiffenberger to Board of Directors. Dr. Pfeiffenberger is currently President and Chief Executive Officer of Century Therapeutics and the Chair of its Board of Directors. Previously, Dr. Pfeiffenberger served as Chief Operating Officer of Neogene Therapeutics (acquired by AstraZeneca). Prior to Neogene, he spent nearly two decades in leadership roles of increasing responsibility at Bristol Myers Squibb, most recently as Senior Vice President, Head of U.S. Oncology, where he oversaw business operations for the multi-billion-dollar franchise.
Financial Results for the Quarter Ended June 30, 2026
The Company reported a net loss of approximately $35.0 million, or a net loss per basic and diluted share of $1.81, for the three months ended June 30, 2026, compared to a net loss of approximately $17.7 million, or a net loss per basic and diluted share of $1.44, for the three months ended June 30, 2025.
Operating expenses increased by $17.0 million to approximately $36.2 million for the three months ended June 30, 2026, compared to approximately $19.2 million for the three months ended June 30, 2025. The increase was primarily attributable to an increase in clinical development expenses, which includes a $10.0 million development milestone payment pursuant to the licensing agreement for CRB-701.
The Company had $117.9 million of cash, cash equivalents, and investments on hand as of June 30, 2026, which is expected to fund operations into 2028 based on current operating plans and planned expenditures.
(Press release, Corbus Pharmaceuticals, AUG 6, 2026, View Source [SID1234669790])