Corbus Pharmaceuticals Holdings, Inc. (CRBP): History, Ownership, Mission, How It Works & Makes Money

When you look at a clinical-stage biotech like Corbus Pharmaceuticals Holdings, Inc. (CRBP), are you focusing on the current $135.66 million market capitalization, or the potential of its late-stage pipeline? The company is making a decisive pivot from its inflammatory disease roots into oncology and obesity, evidenced by the robust Phase 1/2 data presented at ESMO 2025, where their lead asset, CRB-701, showed a 47.6% Objective Response Rate (ORR) in HNSCC patients. This clinical momentum, plus a recent $75 million public offering that extends their cash runway into 2028, suggests a significant inflection point, so understanding their history and unique business model is defintely crucial right now.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) History

Corbus Pharmaceuticals Holdings, Inc.'s Founding Timeline

You need to understand where a company started to appreciate its current strategy. Corbus Pharmaceuticals Holdings, Inc. began with a focus on inflammatory and fibrotic diseases, a path that has since dramatically shifted to oncology and obesity.

Year established

The company was founded in 2009.

Original location

Corbus Pharmaceuticals Holdings, Inc. began in Westwood, Massachusetts, before establishing its current headquarters in Norwood, MA.

Founding team members

While specific initial founding team details are not public, early leadership included figures like Yuval Cohen, Ph.D., who serves as the Chief Executive Officer, and Mark Tepper, the President & Chief Scientific Officer, guiding the company's early scientific direction.

Initial capital/funding

Specific details on the initial seed capital are not readily available in public filings. However, the company secured its first major injection of capital by becoming a publicly traded entity through a reverse merger in 2014.

Corbus Pharmaceuticals Holdings, Inc.'s Evolution Milestones

The company's history is a clear case study in biotech pivoting-moving from a promising but ultimately failed anti-inflammatory drug to a diversified pipeline of oncology and anti-obesity candidates. This table shows the critical junctures.

Corbus Pharmaceuticals Holdings, Inc.'s Transformative Moments

The biggest inflection point was the hard pivot away from Lenabasum. Honestly, that takes courage-cutting a program that was the entire identity of the company. That decision, made after the 2020 trial results, cleared the deck for the current focus.

The company translated that failure into a new, two-pronged strategy: oncology and obesity. They are now a clinical-stage oncology and obesity company, which is a defintely different business model than their original focus.

• The Oncology Focus: The acquisition and rapid advancement of CRB-701, a next-generation Antibody-Drug Conjugate (ADC), became the new flagship. The 2025 clinical data, with an ORR of 47.6% in HNSCC, validated this new direction, leading to a planned registrational study start in mid-2026.
• The Obesity Entry: The introduction of CRB-913, a peripherally restricted CB1 inverse agonist, positions them in the massive, high-demand obesity market. They initiated the Phase 1 SAD/MAD study in March 2025, with a Phase 1b study in obese patients expected to start in Q4 2025.
• Financial Reinforcement: The successful 2025 public offering, which generated $73.8 million in net proceeds, is the financial bedrock for the new strategy, extending their cash runway into 2028. This capital raise was crucial, especially considering the Q3 2025 net loss of approximately $23.3 million.

The firm's shift is a classic biotech move: fail fast on one program, then use the remaining capital and market access to acquire and accelerate new, higher-potential assets. This is why their current pipeline is so diverse. You can read more about their current objectives here: Mission Statement, Vision, & Core Values of Corbus Pharmaceuticals Holdings, Inc. (CRBP).

Corbus Pharmaceuticals Holdings, Inc. (CRBP) Ownership Structure

Corbus Pharmaceuticals Holdings, Inc. is a publicly held, clinical-stage biopharmaceutical company traded on the Nasdaq Stock Market under the ticker CRBP, meaning its ownership is distributed among various institutional, insider, and retail investors.

This structure is typical for a biotech firm, with a significant portion of the stock held by professional money managers who are betting on the success of the company's drug pipeline, including CRB-701 for oncology and CRB-913 for obesity.

Corbus Pharmaceuticals Holdings, Inc.'s Current Status

Corbus Pharmaceuticals Holdings, Inc. is a Publicly Held company, which means its stock is available for purchase by the general public and is subject to the rigorous reporting requirements of the U.S. Securities and Exchange Commission (SEC).

As of early November 2025, the company's market capitalization stood at approximately $209 million, based on about 17 million shares outstanding. The company recently completed a $75 million public offering in November 2025, which has extended its cash runway into 2028, a critical metric for a development-stage company.

For the 2025 fiscal year, the consensus earnings per share (EPS) estimate is a loss of ($4.23), reflecting the significant investment required to fund its clinical trials. You can review the company's strategic goals and guiding principles here: Mission Statement, Vision, & Core Values of Corbus Pharmaceuticals Holdings, Inc. (CRBP).

Corbus Pharmaceuticals Holdings, Inc.'s Ownership Breakdown

The company's stock is largely controlled by institutional investors, who own a majority stake, but a substantial portion remains in the hands of the public and individual investors.

Institutional ownership is high, a common trait in the biotech sector where specialized funds like Cormorant Asset Management, LP, and Orbimed Advisors LLC frequently take large positions. Insiders, including executives and board members, hold a smaller but still important stake, aligning their interests with shareholders.

Corbus Pharmaceuticals Holdings, Inc.'s Leadership

The company is steered by an experienced leadership team with deep roots in biopharmaceutical development and operations.

Dr. Yuval Cohen, Ph.D., has been the Chief Executive Officer and a Director since 2014, providing long-term strategic continuity. His total yearly compensation is approximately $4.25 million, comprised of a mix of salary and bonuses including stock and options. The average tenure for the management team is three years, which shows a stable, experienced core.

• Yuval Cohen, Ph.D.: Chief Executive Officer (CEO) and Director.
• Sean Moran: Chief Financial Officer (CFO), with a reported compensation of about $2.43 million.
• Dominic Smethurst: Chief Medical Officer (CMO), with compensation around $2.97 million.
• Ian Hodgson, Ph.D.: Chief Operating Officer (COO), appointed in March 2025.
• G. Goeken: General Counsel & Corporate Secretary, bringing over 20 years of legal experience in the pharmaceutical sector.

The Board of Directors, chaired by Rachelle Jacques, also maintains a long average tenure of 6.6 years, providing strong governance and oversight. This stability is defintely a positive sign in a high-risk industry like clinical-stage drug development.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) Mission and Values

Corbus Pharmaceuticals Holdings, Inc.'s mission and values center on a patient-first approach, driving their pivot into precision oncology and obesity treatments, which is a significant strategic shift from their earlier focus on inflammatory diseases. This cultural DNA of innovation and resilience is what supports their aggressive clinical pipeline, which is projected to be funded into 2028 following a recent public offering.

Corbus Pharmaceuticals Holdings, Inc.'s Core Purpose

As a seasoned analyst, I look beyond the balance sheet to understand a company's staying power, and for Corbus Pharmaceuticals Holdings, Inc., their purpose is clear: defeat serious illness. This commitment is the engine behind their R&D spend, which is substantial for a company with a market capitalization of roughly $209 million as of November 2025.

Official mission statement

The core mission is to help people defeat serious illness by bringing innovative scientific approaches to well-understood biological pathways. This isn't just a feel-good statement; it's a directive that guides their entire pipeline, from the Nectin-4 targeting antibody-drug conjugate CRB-701 for oncology to CRB-913 for obesity.

They are committed to:

• Helping people defeat serious illness.
• Bringing innovative scientific approaches to biological pathways.
• Improving the lives of patients through drug development and compassionate care.

Vision statement

Corbus Pharmaceuticals Holdings, Inc. has an ambitious, yet defintely realistic, long-term vision given their strong cash position of $116.6 million as of June 30, 2025. Their goal is to become a global leader in their therapeutic areas.

The vision is focused on:

• Becoming a global leader in precision oncology and obesity.
• Delivering breakthrough therapies that improve the lives of patients worldwide.
• Revolutionizing how serious diseases are treated.

Corbus Pharmaceuticals Holdings, Inc. slogan/tagline and core values

The company's internal mantra is about linking their scientific work to patient impact. Their tagline, 'Connecting Innovation to Purpose,' sums up the culture of their clinical-stage operation where every drug candidate, like CRB-601 for immuno-oncology, must serve a clear, unmet medical need.

Their core values are the bedrock of their operations, especially crucial in the high-risk, high-reward biotech world where the Q3 2025 EPS was ($1.90). These values shape how they execute on their pipeline and manage investor expectations.

• Humility: Valuing others and keeping a patient-focused perspective.
• Teamwork: Embracing mutual accountability to achieve shared objectives.
• Innovation: Encouraging bold and unconventional approaches to problem-solving.
• Resilience: Being persistent and adaptable to overcome the inevitable obstacles in drug development.

This patient-centric mission and value set is key to understanding the institutional confidence in the company. For a deeper dive into who is betting on this mission, you should be Exploring Corbus Pharmaceuticals Holdings, Inc. (CRBP) Investor Profile: Who's Buying and Why? Exploring Corbus Pharmaceuticals Holdings, Inc. (CRBP) Investor Profile: Who's Buying and Why?

Corbus Pharmaceuticals Holdings, Inc. (CRBP) How It Works

Corbus Pharmaceuticals Holdings, Inc. is a clinical-stage oncology and obesity company focused on developing novel therapeutics by applying innovative scientific approaches to well-understood biological pathways. The company's value creation is centered on advancing its three key clinical assets-two in oncology and one in obesity-through rigorous clinical trials to achieve regulatory approval.

Corbus Pharmaceuticals Holdings, Inc.'s Product/Service Portfolio

As of late 2025, Corbus's pipeline consists of three clinical-stage drug candidates, all focused on areas of high unmet medical need: oncology and metabolic disease.

Corbus Pharmaceuticals Holdings, Inc.'s Operational Framework

The operational framework is a lean, clinical-stage model, which means the company's primary expense and focus is on generating high-quality clinical data to de-risk its pipeline assets. Honestly, it's all about the data readouts right now.

• Clinical Trial Execution: Corbus manages multi-center Phase 1 and Phase 2 clinical trials for its three programs across the U.S. and Europe, with a large focus on the ongoing CRB-701 Phase 1/2 study.
• Regulatory Strategy: They engage early with regulatory bodies; for example, they plan to meet with the U.S. Food and Drug Administration (FDA) in the first quarter of 2026 to discuss the registrational path for CRB-701.
• Strategic Financing: The company secures capital through public offerings to fund its research and development (R&D) activities; a recent public offering in November 2025 raised approximately $75 million in gross proceeds.
• R&D Investment: Operating expenses are heavily weighted toward clinical development, increasing by $8.9 million to approximately $24.4 million for the three months ended September 30, 2025, compared to the same period in 2024.

You can see the financial strategy supporting this focus by Exploring Corbus Pharmaceuticals Holdings, Inc. (CRBP) Investor Profile: Who's Buying and Why?

Corbus Pharmaceuticals Holdings, Inc.'s Strategic Advantages

Corbus's competitive edge is built on the differentiated nature of its pipeline candidates and a strong financial position that provides a long runway for development.

• Next-Generation ADC Technology: CRB-701 is a next-generation Nectin-4 targeting Antibody-Drug Conjugate (ADC) that has shown a favorable safety and tolerability profile compared to earlier Nectin-4 ADCs, notably a low rate of peripheral neuropathy at 8.4%.
• Targeting Unmet Needs: The company is strategically targeting large, less saturated oncology indications like Head and Neck Squamous Cell Carcinoma (HNSCC), where CRB-701 has already received FDA Fast Track designation.
• De-risked Obesity Mechanism: CRB-913 uses a clinically validated mechanism-CB1 inverse agonism-but its peripherally restricted design aims to overcome the safety hurdles that plagued prior generations of these drugs, positioning it for a better risk/benefit profile.
• Extended Cash Runway: Following the Q3 2025 results, the company reported a cash, cash equivalents, and investment balance of $104.0 million as of September 30, 2025, which, combined with the recent financing, is expected to fund operations into 2028.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) How It Makes Money

Corbus Pharmaceuticals Holdings, Inc. does not currently generate revenue from commercial product sales; its business engine is entirely fueled by capital market financing-selling stock to fund the clinical development of its oncology and obesity drug pipeline.

The company operates in the high-stakes, pre-commercial clinical-stage biotechnology sector, meaning its financial success hinges not on current sales, but on the future value of its intellectual property (IP) and the successful advancement of its lead assets, CRB-701 and CRB-913, through regulatory trials.

Given Company's Revenue Breakdown

For a clinical-stage biotech like Corbus Pharmaceuticals, the traditional revenue breakdown is misleading because product sales are non-existent. The company's reported revenue is nominal, primarily consisting of minor interest income or small grants, but the true financial lifeline is equity financing.

Business Economics

The core economic reality for Corbus Pharmaceuticals is its cash burn rate (the speed at which it spends cash) versus its cash runway (how long its current cash lasts). This is a pure research and development (R&D) model, where every dollar spent is a bet on a future blockbuster drug.

• R&D Focus: The majority of operating expenses are clinical development costs. Operating expenses for the third quarter ended September 30, 2025, surged to approximately $24.4 million, up from $15.5 million in the same period a year prior, showing a clear acceleration of pipeline spending.
• Valuation Driver: The value of the company is tied almost entirely to clinical milestones. The positive data presentation for CRB-701 (an antibody-drug conjugate targeting Nectin-4) at ESMO 2025, which showed an objective response rate (ORR) of 47.6% in HNSCC at the 3.6 mg/kg dose, is the kind of event that drives market capitalization, not quarterly revenue.
• Dilution Risk: To fund this burn, the company relies on public offerings, which causes shareholder dilution. For instance, the recent November 2025 public offering raised net proceeds of approximately $73.8 million, but it did so by issuing new shares. This is the necessary trade-off for extending the cash runway.

The entire business model is a race against time and the FDA. You defintely need to understand this dynamic before investing. For a deeper look at the investors making these bets, you can check out Exploring Corbus Pharmaceuticals Holdings, Inc. (CRBP) Investor Profile: Who's Buying and Why?

Given Company's Financial Performance

The key financial metrics for Corbus Pharmaceuticals in 2025 reflect an intense period of clinical investment and capital raising, not profitability. The focus here is on liquidity and the expense base.

• Net Loss: The company reported a net loss of approximately $23.3 million for the third quarter of 2025, a significant increase from the $13.8 million loss in the prior year's comparable quarter. This widening loss is a direct result of increased clinical trial activity for assets like CRB-701 and the obesity candidate CRB-913.
• Cash Position and Runway: As of September 30, 2025, Corbus Pharmaceuticals held $104.0 million in cash, cash equivalents, and investments. Following the subsequent November 2025 capital raise, the company projects it has sufficient cash to fund operations into 2028. Here's the quick math: a quarterly burn of roughly $23 million means an annual burn rate of around $92 million, so a cash balance of over $177 million (pre-raise cash plus net proceeds) gives them a solid, multi-year cushion.
• Earnings Per Share (EPS): The net loss translated to an EPS of -$1.90 for Q3 2025, missing analyst consensus estimates. What this estimate hides is that the miss is less about operational failure and more about the unpredictable timing of high-cost clinical trial phases.

Your next step should be to track the Phase 2/3 registrational study start for CRB-701, which is planned for mid-2026. That milestone will be the next major inflection point for valuation.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) Market Position & Future Outlook

Corbus Pharmaceuticals Holdings, Inc. is a high-risk, high-reward clinical-stage oncology and obesity company whose future trajectory hinges entirely on its two lead pipeline assets, CRB-701 and CRB-913. The company currently has 0% product revenue market share, but a cash runway extended into 2028 following a $75 million public offering in late 2025 gives it the financial breathing room to execute on its pivotal clinical trials.

You're looking at a classic biotech development story: the valuation is driven by clinical data, not sales. The recent CRB-701 data at ESMO 2025 has positioned them for a critical mid-2026 registrational study start, which is the next major inflection point for the stock.

Competitive Landscape

Corbus Pharmaceuticals operates across two highly competitive therapeutic areas: oncology (Antibody-Drug Conjugates, or ADCs) and obesity. Their market standing is based on clinical differentiation against established, multi-billion-dollar competitors. Since Corbus is pre-revenue, its market share is effectively zero, so we use the size and sales of key competitors to frame the market challenge.

Opportunities & Challenges

The near-term outlook is defined by two key clinical catalysts: the registrational path for CRB-701 and the initial Phase 1b data for CRB-913. Here's the quick math: a positive outcome in either program could increase the company's valuation many times over, but a failure means a defintely painful reset.

Industry Position

Corbus Pharmaceuticals Holdings, Inc. is a niche player in the global biotechnology industry, currently valued at a Market Cap of approximately $209 million as of November 2025. Its strategy is to target validated biological pathways-Nectin-4 in oncology and the CB1 receptor in obesity-but with next-generation, potentially differentiated molecules.

• Focus is on precision oncology and obesity, shifting away from its initial inflammatory and fibrotic disease focus.
• The global Antibody-Drug Conjugate (ADC) market, which CRB-701 targets, is projected to be worth around $15.29 billion in 2025, showing the massive market opportunity for a successful product.
• The company's enterprise value is low, at $33.73 million, which reflects its early-stage status and reliance on pipeline success for future growth.
• Institutional ownership is significant, holding about 34.19% of the shares, which suggests a degree of confidence from professional investors in the long-term pipeline value.

To understand the composition of this ownership, you should read Exploring Corbus Pharmaceuticals Holdings, Inc. (CRBP) Investor Profile: Who's Buying and Why?

Finance: draft a scenario analysis on CRB-701 Phase 3 success by the end of Q1 2026.