Corbus Pharmaceuticals Holdings, Inc. reported a GAAP net loss per share of $1.44 for the second quarter ended June 30, 2025, which surpassed analysts’ consensus GAAP estimate of $(1.50) by $0.06 per share. The net loss for the quarter was $17.7 million, compared to $10.0 million for the corresponding period in 2024. This increase in loss reflects the company's accelerated investment in its research and development programs.
Operating expenses rose significantly to $19.2 million in Q2 2025 from $11.0 million in Q2 2024. Research and development expenses surged to $15.2 million, marking a 121% increase from $6.9 million in the same period of 2024. Program-specific costs for CRB-701 increased by $2.5 million (91%), CRB-601 by $2.5 million (269%), and CRB-913 by $2.5 million (188%) in Q2 2025 compared to Q2 2024, signaling active clinical advancement across the pipeline.
Despite the increased R&D spending, Corbus maintains a robust liquidity position, with $116.6 million in cash, cash equivalents, and investments as of June 30, 2025. This capital is projected to be sufficient to fund operations through the second quarter of 2027, providing a crucial cash runway. The company did not report any revenue, consistent with its pre-commercial development stage.
Corbus also provided updates on its pipeline, confirming that Phase 1/2 dose expansion data for CRB-701 will be presented at ESMO 2025 in October. The multiple ascending dose (MAD) portion of the Phase 1 study for CRB-913 has been initiated. All three clinical programs—CRB-701, CRB-913, and CRB-601—remain on track for data readouts in the second half of 2025, setting the stage for critical milestones.
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