Aegis Capital Affirms Corbus Pharma (CRBP) at 'Buy' Following Strong Resunab Phase 2 Data

November 14, 2016 2:49 PM EST
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Price: $7.49 -0.13%

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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.

For an analyst ratings summary and ratings history on Corbus Pharmaceuticals click here. For more ratings news on Corbus Pharmaceuticals click here.

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