Aegis Capital recently issued a ‘Buy’ rating and price target of $12 on shares of Corbus Pharmaceuticals Holdings (NASDAQ: CRBP). The company’s fourth quarter was marked by positive data from its phase 2 study of anabasum (previously Resunab or JBT-101) for the treatment of systemic sclerosis showing clear signal of clinical benefit. On March 13, Corbus held a Research and Development day and said the anticipated data from the phase 2a study in cystic fibrosis is on schedule for announcement during March 2017. Aegis cited this data as a possible milestone to drive shares of the company’s stock.
For more information, visit www.corbuspharma.com
Corbus Pharmaceuticals Holdings, Inc. is a clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The company’s lead product candidate, JBT-101, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation, and fibrotic processes. In November 2016, Corbus reported positive topline data results from a phase 2 study in diffuse cutaneous systemic sclerosis, showing clear signal of clinical benefit with JBT-101. The company recently completed a phase 2 study of JBT-101 for the treatment of cystic fibrosis with topline data expected to be announced by the end of the first quarter of 2017. Additionally, JBT-101 is being evaluated in a phase 2, 12-month open-label extension study in systemic sclerosis, a phase 2 study in skin-predominant dermatomyositis, with a 12-month open-label extension study in dermatomyositis and another phase 2 study in systemic lupus erythematosus planned to commence in the second quarter of 2017.
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