Cantor Fitzgerald Reiterates Bullish View on Corbus Pharmaceuticals (CRBP) on Resunab Success
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Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating and $17 price target on Corbus Pharmaceuticals (NASDAQ: CRBP) after Resunab achieves median CRISS score of 33% versus placebo 0% at 16 weeks, demonstrating clinical activity in target Scleroderma patients (p = 0.044).
Piros commented, "This morning, Corbus announced positive top-line results from its Phase 2 study with Resunab in patients suffering from diffuse cutaneous systemic sclerosis. In the three month, 42-patient study, Resunab achieved a median CRISS score (the primary endpoint of the study) at 16 weeks (4 weeks of follow-up, following 12-weeks of dosing) of 33% compared with a CRISS score of 0% in placebo treated patients. Furthermore, this separation occurred gradually over the 16 weeks of observation. We view these data as positive, which are in-line with our expectations outlined from our previous report."
Shares of Corbus Pharmaceuticals closed at $5.85 yesterday.
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