Aegis Capital Affirms Corbus Pharma (CRBP) at 'Buy' Following Strong Resunab Phase 2 Data
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Aegis Capital affirms Corbus Pharmaceuticals Holdings, Inc. (Nasdaq: CRBP) at Buy with a price target of $12 after the company announced positive topline results from its Phase 2 study evaluating Resunab for the treatment of diffuse cutaneous systemic sclerosis.
The firm commented today,
We view the results as clinically significant both in scleroderma and as proof-of-concept for Resunab's mechanism of action. We believe this bodes well for the additional trials in cystic fibrosis and dermatomyositis that are expected to report results over the next six to nine months.
A point we found interesting is that the entry criteria included patients who had had the disease for longer than three years and up to six years. In this phase of disease, the patients have increased fibrosis relative to their inflammation. Resunab is believed to act through upregulation of the resolution pathway, decreasing both inflammation and fibrosis. Data showing efficacy in these more advanced cases supports this mechanism and the dosing used, the analyst noted.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Galena Biopharma (GALE) PT Raised to $4 at Maxim Group into San Antonio Breast Cancer Symposium
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!