Corbus Pharmaceuticals announces proposed public stock offering

Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) announced plans for an underwritten public offering of common stock shares or pre-funded warrants to purchase common stock shares. The oncology and obesity-focused company stated the offering is subject to market conditions with no assurance regarding completion, timing, or final terms.

The company intends to use net proceeds to fund clinical development of its pipeline and for working capital and general corporate purposes. Jefferies LLC and Piper Sandler & Co. will serve as joint book-running managers for the offering.

Corbus plans to grant underwriters a 30-day option to purchase up to an additional 15% of the common stock shares sold in the public offering. A registration statement relating to the securities was filed with the Securities and Exchange Commission and became effective on March 20, 2024.

The company's pipeline includes CRB-701, an antibody drug conjugate targeting Nectin-4 expression on cancer cells, CRB-601, an anti-integrin monoclonal antibody blocking TGFβ activation on cancer cells, and CRB-913, a CB1 inverse agonist for obesity treatment.

Corbus is headquartered in Norwood, Massachusetts. The information is based on a company press release.

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