Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) today announced the pricing of an underwritten public offering of 6,666,667 shares of its common stock at a public offering price of $6.00 per share, for a total public offering size of approximately $40 million, before deducting underwriting discounts and estimated offering expenses. In addition, Corbus has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of its common stock on the same terms and conditions. All of the shares in the offering are being sold by Corbus. The offering is expected to close on or about February 11, 2020, subject to customary closing conditions.

Corbus intends to use the net proceeds of the proposed underwritten offering to fund its continued development of lenabasum, CRB-4001 and its other preclinical compounds as well as for general corporate purposes, which may include funding preclinical studies and clinical trials, manufacturing lenabasum and CRB-4001 for clinical trials and commercial launch, and acquisitions or investments in businesses, products or technologies that are complementary, and to increase its working capital and fund capital expenditures.

Jefferies and RBC Capital Markets are acting as joint book-running managers for the offering. Oppenheimer & Co. is acting as lead manager. Nomura and H.C. Wainwright & Co. are acting as co-managers for the offering.