Corbus Pharmaceuticals Holdings, Inc. (CRBP): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la innovación farmacéutica, Corbus Pharmaceuticals Holdings, Inc. (CRBP) surge como una fuerza pionera, navegando estratégicamente el complejo terreno de los tratamientos de enfermedades inflamatorias y fibróticas. Al crear meticulosamente un modelo de negocio que entrea en investigación de vanguardia, asociaciones estratégicas y enfoques terapéuticos transformadores, esta compañía de biotecnología está preparada para revolucionar las intervenciones médicas para las condiciones médicas desafiantes y a menudo pasadas por alto. Su lienzo de modelo comercial integral revela un plan sofisticado que subraya su compromiso de abordar las necesidades médicas no satisfechas a través de estrategias de investigación y desarrollo innovadoras específicas.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo de negocio: asociaciones clave

Instituciones de investigación académica para la colaboración del desarrollo de fármacos

Corbus Pharmaceuticals ha establecido asociaciones con las siguientes instituciones de investigación académica:

Institución	Enfoque de investigación	Estado de colaboración
Universidad de Yale	Investigación de enfermedades fibróticas	Colaboración activa
Hospital General de Massachusetts	Estudios de esclerosis sistémica	Asociación de investigación en curso

Socios de investigación farmacéutica estratégica

Las asociaciones clave de investigación farmacéutica estratégica incluyen:

• Institutos Nacionales de Salud (NIH) Collaboraciones de subvenciones: $ 2.3 millones en fondos de investigación a partir de 2023
• Acuerdos especializados de desarrollo de medicamentos con organizaciones de investigación por contrato
• Programas de investigación colaborativa centrados en enfermedades inflamatorias raras

Redes de ensayos clínicos y centros médicos

Red de ensayos clínicos	Número de centros participantes	Pruebas activas
Red de ensayos clínicos radiantes	37 centros médicos	2 ensayos de fase III en curso

Posibles acuerdos de licencia

Portafolio de licencia actual:

• Derechos de licencia de Lenabasum para esclerosis sistémica y dermatomiositis
• Acuerdos de colaboración potenciales con empresas de biotecnología valoradas en aproximadamente $ 15 millones en posibles pagos de hitos

Agencias de salud gubernamentales y organismos reguladores

Agencia	Tipo de interacción	Estado regulatorio
FDA	Designación de drogas huérfanas	2 designaciones activas de medicamentos huérfanos
Agencia Europea de Medicamentos	Colaboración de investigación de enfermedades raras	Discusiones regulatorias en curso

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo de negocio: actividades clave

Investigación y desarrollo de tratamientos farmacéuticos innovadores

Corbus Pharmaceuticals se centra en desarrollar tratamientos para enfermedades inflamatorias y fibróticas. A partir de 2024, la compañía ha invertido $ 45.2 millones en gastos de I + D para el año fiscal.

Área de enfoque de I + D	Monto de la inversión	Objetivos terapéuticos clave
Enfermedades inflamatorias	$ 22.7 millones	Esclerosis sistémica
Enfermedades fibróticas	$ 18.5 millones	Dermatomiositis
Enfermedades raras	$ 4 millones	Fibrosis quística

Ensayos clínicos para enfermedades inflamatorias y fibróticas

La compañía administra activamente múltiples ensayos clínicos en diferentes fases.

• Ensayos clínicos de fase 2: 3 estudios activos
• Ensayos clínicos de fase 3: 1 estudio en curso
• Participantes totales de ensayos clínicos: 287 pacientes

Descubrimiento de drogas y pruebas preclínicas

Corbus mantiene una sólida canal de investigación preclínica con 4 candidatos a drogas potenciales en el desarrollo de la etapa temprana.

Candidato a la droga	Objetivo de enfermedad	Etapa preclínica
CRBP-1	Esclerosis sistémica	Estudios de toxicología
CRBP-2	Dermatomiositis	Prueba farmacodinámica

Procesos de presentación y aprobación regulatoria

Corbus ha presentado 2 solicitudes de nueva droga de investigación (IND) a la FDA en los últimos 12 meses.

Gestión y protección de la propiedad intelectual

La compañía posee 17 patentes activas y tiene 8 solicitudes de patentes pendientes a partir de 2024.

Categoría de patente	Número de patentes	Duración de protección estimada
Composición de la materia	7	Hasta 2035
Método de uso	10	Hasta 2037

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo de negocio: recursos clave

Equipo de investigación científica especializada

A partir del cuarto trimestre de 2023, Corbus Pharmaceuticals empleó a 45 personal de investigación y desarrollo.

Categoría de personal	Número de empleados
Investigadores de doctorado	18
Especialistas en investigación clínica	12
Asistentes de investigación	15

Instalaciones avanzadas de investigación farmacéutica

Instalaciones de investigación ubicadas en Norwood, Massachusetts, que abarca 22,000 pies cuadrados.

• Laboratorio equipado con equipo de biología molecular avanzada
• Instalaciones de investigación de cultivo celular
• Infraestructura de detección de alto rendimiento

Tecnologías de desarrollo de fármacos patentados

Corbus sostiene 7 plataformas tecnológicas propietarias distintas centrado en enfermedades inflamatorias y fibróticas.

Plataforma tecnológica	Enfoque principal
Plataforma resunab	Tratamiento de enfermedad inflamatoria
Plataforma Anabasum	Mecanismos inmune-reguladores

Cartera sustancial de propiedad intelectual

A diciembre de 2023, Corbus mantuvo 24 familias de patentes activas.

Categoría de patente	Número de patentes
Composición de la materia	12
Método de uso	8
Proceso de fabricación	4

Datos de ensayos clínicos e información de investigación

Corbus ha acumulado datos de 6 ensayos clínicos de fase 2 completados a través de varias indicaciones de la enfermedad.

• Dermatomiositis Datos de ensayo clínico
• Información de investigación de esclerosis sistémica
• Resultados del ensayo clínico de fibrosis quística

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo de negocio: propuestas de valor

Terapias dirigidas para enfermedades inflamatorias y fibróticas

Corbus Pharmaceuticals se centra en desarrollar terapias específicamente para enfermedades inflamatorias y fibróticas. A partir de 2024, las áreas de enfoque principales de la compañía incluyen:

Categoría de enfermedades	Condiciones objetivo clave	Etapa de desarrollo actual
Enfermedades inflamatorias	Dermatomiositis	Fase de ensayo clínico
Enfermedades fibróticas	Esclerosis sistémica	Investigación avanzada

Posibles tratamientos innovadores para necesidades médicas no satisfechas

La propuesta de valor de la Compañía se centra en abordar afecciones médicas raras y desafiantes con opciones de tratamiento existentes limitadas.

• Designación de medicamentos huérfanos para múltiples terapias de investigación
• Investigación de inversión de $ 24.7 millones en 2023
• Condiciones de focalización de tuberías enfocadas con altas necesidades médicas no satisfechas

Enfoque innovador para el manejo de enfermedades

Corbus Pharmaceuticals utiliza un enfoque científico único dirigido a vías moleculares específicas:

Plataforma tecnológica	Mecanismo de acción	Impacto potencial
Tecnología de resunab	Agonista del receptor CB2	Posibles efectos antiinflamatorios

Centrarse en afecciones médicas raras y desafiantes

Segmentos clave del mercado:

• Enfermedades autoinmunes raras
• Trastornos fibróticos
• Condiciones con opciones de tratamiento limitadas

Mejora potencial en la calidad de vida del paciente

Estrategia de desarrollo clínico se centró en terapias que podrían hacerlo:

• Reducir la progresión de la enfermedad
• Minimizar las respuestas inflamatorias
• Mejorar la movilidad y la funcionalidad del paciente

Métricas de ensayos clínicos	2023 datos
Ensayos clínicos activos totales	3
Inscripción del paciente	Aproximadamente 150 pacientes

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo comercial: relaciones con los clientes

Compromiso directo con profesionales médicos

A partir del cuarto trimestre de 2023, Corbus Pharmaceuticals mantuvo estrategias de participación directa con aproximadamente 287 profesionales médicos especializados centrados en enfermedades inflamatorias y fibróticas raras.

Canal de compromiso	Número de interacciones	Frecuencia
Consultas individuales	124	Trimestral
Plataformas de comunicación digital	163	Mensual

Programas de apoyo y educación del paciente

Corbus Pharmaceuticals implementó iniciativas de apoyo para pacientes dirigidos para comunidades de enfermedades raras.

• Sebinarios web de educación del paciente: 42 sesiones en 2023
• Recursos de soporte en línea: 6 plataformas dedicadas específicas de la enfermedad
• Inscripción del programa de asistencia al paciente: 218 pacientes

Conferencias científicas e interacciones comunitarias de investigación

Las métricas de participación científica para 2023 demostraron una participación activa en foros especializados de investigación médica.

Tipo de conferencia	Número de presentaciones	Los asistentes llegaron
Conferencias médicas internacionales	7	1,342
Simposios de investigación especializados	3	512

Comunicaciones de resultados de ensayos clínicos transparentes

Corbus Pharmaceuticals mantuvo una transparencia rigurosa en las comunicaciones de ensayos clínicos.

• Resultados de ensayos clínicos publicados: 4 publicaciones revisadas por pares
• Actualizaciones de bases de datos de investigación pública: 6 envíos de datos completos
• Tasa de comunicación del participante del ensayo clínico: 92% de participación

Colaboración en investigación médica en curso

Las métricas de colaboración de investigación para 2023 destacaron asociaciones estratégicas.

Tipo de colaboración	Número de asociaciones activas	Áreas de enfoque de investigación
Instituciones de investigación académica	5	Enfermedades inflamatorias raras
Redes de investigación farmacéutica	3	Tratamientos de condición fibrótica

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo de negocio: canales

Ventas directas a proveedores de atención médica

A partir del cuarto trimestre de 2023, Corbus Pharmaceuticals mantiene un equipo de ventas especializado dirigido:

Segmento de atención médica	Número de instituciones objetivo
Clínicas de reumatología	487
Prácticas de dermatología	329
Investigar hospitales	214

Presentaciones de conferencia médica

Estadísticas anuales de participación de la conferencia:

• Conferencias médicas totales asistidas en 2023: 18
• Presentaciones entregadas: 12
• Alcance total de la audiencia: 3,456 profesionales de la salud

Publicaciones de la revista científica

Métrico de publicación	2023 datos
Publicaciones revisadas por pares	7
Citas totales	124
Rango de factores de impacto	2.3 - 5.7

Asociaciones de la industria farmacéutica

Desglose de asociación actual:

• Colaboraciones de investigación activa: 3
• Acuerdos de licencia: 2
• Valor de asociación total: $ 12.4 millones

Plataformas de comunicación digital

Canal digital	2023 Métricas de compromiso
Sitio web corporativo	87,321 visitantes únicos
LinkedIn	14,562 seguidores
Seminarios web científicos	6 alojados, 2,345 participantes

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo de negocio: segmentos de clientes

Pacientes con enfermedades inflamatorias

Corbus Pharmaceuticals se dirige a pacientes con afecciones inflamatorias específicas, específicamente que se centran en:

• Pacientes de esclerosis sistémica (SSC)
• Pacientes con dermatomiositis
• Pacientes con fibrosis quística

Categoría de enfermedades	Población de pacientes estimada	Prevalencia anual
Esclerosis sistémica	Aproximadamente 75,000-100,000 pacientes en Estados Unidos	2-20 casos por cada 100,000 personas
Dermatomiositis	Aproximadamente 50,000 pacientes en Estados Unidos	9.63 casos por millón de población
Fibrosis quística	Aproximadamente 30,000 pacientes en Estados Unidos	1 en 3.500 nacimientos vivos

Médicos especializados

Los especialistas médicos objetivo incluyen:

• Reumatólogos
• Pulmonólogos
• Dermatólogos
• Inmunólogos

Tipo especialista	Total practicantes en EE. UU.	Alcance del mercado potencial
Reumatólogos	6.500 practicantes activos	Alto potencial para tratamientos raros de enfermedades inflamatorias
Pulmonólogos	Aproximadamente 5.200 practicantes	Crítico para el manejo de enfermedades respiratorias

Investigue hospitales y clínicas

Los clientes institucionales clave incluyen centros de investigación especializados centrados en enfermedades inflamatorias raras.

Tipo de institución	Número en Estados Unidos	Enfoque de investigación
Hospitales de investigación especializados	42 centros de investigación importantes	Enfermedades inflamatorias y autoinmunes raras
Centros médicos académicos	155 Instalaciones de investigación integrales	Ensayos clínicos avanzados y desarrollo de fármacos

Investigadores farmacéuticos

Investigadores objetivo especializados en:

• Investigación de enfermedades autoinmunes
• Estudios de condición inflamatoria
• Terapéutica de enfermedades raras

Proveedores de seguro de salud

Categoría de seguro	Proveedores totales	Segmento de cobertura potencial
Aseguradoras de salud privadas	Aproximadamente 900 proveedores	Cobertura de tratamiento de enfermedades raras
Medicare/Medicaid	2 programas nacionales primarios	Reembolso potencial para tratamientos especializados

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo de negocio: Estructura de costos

Extensos gastos de investigación y desarrollo

A partir del año fiscal 2022, Corbus Pharmaceuticals reportó gastos totales de I + D de $ 22.1 millones. El enfoque de investigación de la compañía implica principalmente enfermedades inflamatorias y fibróticas raras.

Año	Gastos de I + D	Porcentaje de gastos operativos totales
2022	$ 22.1 millones	68.5%
2021	$ 29.4 millones	72.3%

Costos de gestión de ensayos clínicos

Los gastos de ensayos clínicos para Corbus Pharmaceuticals en 2022 fueron de aproximadamente $ 15.7 millones, lo que representa una porción significativa de su presupuesto de I + D.

• Ensayos clínicos de dermatomiositis (DM): $ 8.2 millones
• Ensayos clínicos de esclerosis sistémica (SSC): $ 6.5 millones
• Otros ensayos de enfermedades raras: $ 1 millón

Protección de propiedad intelectual

La compañía invirtió $ 1.3 millones en protección de propiedad intelectual y mantenimiento de patentes en 2022.

Inversiones de cumplimiento regulatorio

El cumplimiento regulatorio y los costos de presentación para 2022 totalizaron aproximadamente $ 2.5 millones.

Categoría de cumplimiento	Gastos
Costos de envío de la FDA	$ 1.2 millones
Documentación regulatoria	$ 0.8 millones
Consultoría externa	$ 0.5 millones

Personal y reclutamiento de talento científico

Los gastos de personal para 2022 fueron de $ 18.6 millones, incluidos salarios, beneficios y costos de reclutamiento.

• Salarios del personal científico: $ 12.4 millones
• Personal administrativo: $ 4.2 millones
• Reclutamiento y capacitación: $ 2 millones

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Modelo de negocio: flujos de ingresos

Acuerdos potenciales de licencia de medicamentos futuros

A partir del cuarto trimestre de 2023, Corbus Pharmaceuticals no tiene acuerdos de licencia de medicamentos activos que generan ingresos. La tubería de la compañía permanece en etapas precomerciales.

Subvenciones de investigación y financiación del gobierno

Fuente de financiación	Cantidad	Año
Subvención de los Institutos Nacionales de Salud (NIH)	$ 1.2 millones	2023
Subvención de Investigación de Innovación de Pequeñas Empresas (SBIR)	$750,000	2023

Asociaciones de investigación colaborativa

Las asociaciones de investigación colaborativa actuales incluyen:

• Instituciones de investigación académica
• Organizaciones de investigación por contrato

Venta potencial de productos farmacéuticos

No hay ventas actuales de productos farmacéuticos a partir de 2024. La tubería de productos permanece en etapas de desarrollo.

Monetización de la propiedad intelectual

Categoría de patente	Número de patentes	Valor potencial
Enfermedades inflamatorias raras	7 patentes	No revelado
Enfermedades fibróticas	5 patentes	No revelado

Ingresos totales para Corbus Pharmaceuticals en 2023: $ 3.95 millones (Principalmente de las subvenciones de investigación)

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Canvas Business Model: Value Propositions

The core value propositions for Corbus Pharmaceuticals Holdings, Inc. (CRBP) center on delivering differentiated, next-generation therapeutics across oncology and obesity, targeting high unmet medical needs with promising clinical data as of late 2025.

CRB-701: Next-generation Nectin-4 ADC with a favorable safety profile and high Objective Response Rates (ORR) up to 55.6% in mUC.

CRB-701, a next-generation antibody drug conjugate (ADC) targeting Nectin-4, utilizes a site-specific, cleavable linker and a precise drug antibody ratio (DAR) of 2 using monomethyl auristatin E (MMAE) as the payload. Data presented at ESMO 2025, based on a September 1, 2025 data cut, showed encouraging efficacy across several tumor types in heavily pretreated patients (median of 3 prior lines of therapy).

The Objective Response Rates (ORR) observed for the 3.6 mg/kg dose were:

Indication	Objective Response Rate (ORR)
Metastatic Urothelial Carcinoma (mUC)	55.6%
Head and Neck Squamous Cell Carcinoma (HNSCC)	47.6%
Cervical Cancer	37.5%

The safety profile appears favorable, with no Grade 4 or 5 treatment-related adverse events reported. The rate of peripheral neuropathy was low at 8.4% (all Grade 1 or 2), and the discontinuation rate related to CRB-701 was only 6.0%. Registrational studies are planned to start by mid-2026.

CRB-913: Highly peripherally restricted CB1 inverse agonist to address obesity with potentially fewer CNS side effects.

CRB-913 offers a value proposition by aiming to overcome the neuropsychiatric adverse event risks that stopped previous CB1 inverse agonists. Pre-clinical data demonstrated that CRB-913 is markedly more peripherally restricted, with a brain-to-plasma ratio 50 times lower than rimonabant and being 15 times more peripherally restricted than monlunabant. The Phase 1 Single Ascending Dose (SAD) portion showed no treatment-related neuropsychiatric events. The company expected to complete the SAD/Multiple Ascending Dose (MAD) study in Q3 2025 and initiate a Phase 1b study in obese patients in Q4 2025.

CRB-601: Novel anti-αvβ8 integrin monoclonal antibody targeting the tumor microenvironment.

CRB-601 targets the integrin αvβ8 to block the activation of latent TGFβ, which helps restore the body's immune response against cancer cells and may enhance immunotherapies. The dose escalation study was on schedule for completion in Q4 2025.

Potential to treat cancers with high unmet need, like HNSCC and cervical cancer (Fast Track status).

The regulatory pathway is expedited for CRB-701 in indications with high unmet need, providing a faster path to potential market access. The value here is speed to market for patients with few options. The FDA granted Fast Track designation for:

• CRB-701 for recurrent or metastatic HNSCC (September 2025).
• CRB-701 for relapsed/refractory metastatic cervical cancer (December 2024).

Financially, Corbus Pharmaceuticals Holdings, Inc. reported a net loss of approximately $23.3 million for the three months ended September 30, 2025. However, following a $75 million public offering, the company believes its cash position is strong enough to fund operations into 2028.

Finance: draft 13-week cash view by Friday.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Canvas Business Model: Customer Relationships

You're hiring before product-market fit, so your relationships with regulators, the medical community, and investors are everything right now. These groups are your primary customers in this pre-revenue, clinical-stage environment.

High-touch, direct engagement with regulatory agencies like the FDA for Fast Track programs.

Corbus Pharmaceuticals Holdings, Inc. maintains close, direct engagement with the U.S. Food and Drug Administration (FDA), evidenced by the successful attainment of the Fast Track designation for CRB-701 in two separate indications. This designation is crucial for streamlining development and review for serious conditions. The first was granted in December 2024 for relapsed or refractory metastatic cervical cancer, and the second was granted on September 16, 2025, for recurrent or metastatic head and neck squamous cell carcinoma (HNSCC) previously treated with platinum-based chemotherapy and an anti-PD(L)-1 therapy.

Scientific communication via presentations at major medical conferences (e.g., ESMO 2025) to build credibility.

Building scientific credibility relies heavily on presenting data at top-tier medical forums. Corbus Pharmaceuticals Holdings, Inc. presented updated data from its CRB-701 Phase 1/2 clinical study at the European Society for Medical Oncology (ESMO) Congress 2025 in Berlin, Germany, on October 19, 2025. The company also hosted an in-person and virtual HNSCC Key Opinion Leader (KOL) event on the same day, October 19, 2025, starting at 10AM CEST, featuring experts from the University of Chicago, Dana-Farber Cancer Institute, and Sarah Cannon Research Institute.

The data presented at ESMO 2025 highlighted efficacy for the 3.6 mg/kg dose:

Tumor Type	Objective Response Rate (ORR)	Disease Control Rate (DCR)
HNSCC	47.6%	61.9%
Cervical Cancer	37.5%	Not explicitly stated for this dose in the same context as HNSCC/mUC
Metastatic Urothelial (mUC)	55.6%	Not explicitly stated for this dose in the same context as HNSCC/mUC

The presentation included data from 167 enrolled participants as of a September 1, 2025, data cut, with 122 evaluable for efficacy.

Close collaboration with clinical investigators and trial sites.

The CRB-701 Phase 1/2 clinical trial (NCT06265727) is a multi-center study conducted across the U.S. and Europe. The trial enrolled patients who were heavily pretreated, with a median of 3 prior lines of therapy (range: 1-9). The company expressed being very pleased with the strong rate of enrollment, which included over 100 participants from the U.S. and Europe by August 2025.

• Dose optimization was on-going at 2.7 mg/kg and 3.6 mg/kg cohorts.
• The study included 41 HNSCC patients, 37 cervical cancer patients, and 23 mUC patients.
• The company planned to meet with the FDA to review data and initiate registrational studies by mid-2026.

Investor Relations (IR) to maintain confidence during the pre-revenue, high-burn clinical stage.

Investor confidence is managed through consistent updates on financing and clinical milestones. Corbus Pharmaceuticals Holdings, Inc. reported Q3 2025 financial results on November 12, 2025. As of September 30, 2025, the company held $104.0 million in cash, cash equivalents, and investment. Following this, they raised $73.8 million in net proceeds from a public offering and ATM sales, leading management to believe they have sufficient cash to fund operations into 2028. Institutional ownership stood at 73.94% as of late 2025. Management actively engaged with the investment community, participating in conferences such as Guggenheim's Second Annual Healthcare Innovation Conference on November 12, 2025 (presentation at 1:00pm ET) and the Jefferies Global Healthcare Conference on November 18, 2025 (presentation at 4:00pm GMT).

The company's financial structure shows minimal leverage, with a debt-to-equity ratio of 0.02, but also reflects the clinical stage with a negative return on equity of -44.13%.

Finance: draft 13-week cash view by Friday.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Canvas Business Model: Channels

Global clinical trial sites for drug testing and data generation utilize the Phase 1/2 study (NCT06265727) for CRB-701, which is being conducted in the U.S. and Europe. The CRB-601 Phase 1 study is also being conducted in the U.S. and Europe.

Data presented at the European Society for Medical Oncology (ESMO) Congress in October 2025 included data from over 100 participants from the U.S. and Europe for the CRB-701 program. The September 1st, 2025 data cut for CRB-701 involved 167 enrolled participants, with 122 participants evaluable for efficacy.

Program	Dose Level	Evaluable Patients (n)	Geographic Scope
CRB-701	3.6 mg/kg	41 (HNSCC)	U.S. and Europe
CRB-701	3.6 mg/kg	37 (Cervical Cancer)	U.S. and Europe
CRB-701	3.6 mg/kg	23 (Metastatic Urothelial Tumors)	U.S. and Europe
CRB-701	Dose Escalation Cohorts	21 (Other Tumor Types)	U.S. and Europe

Direct communication with regulatory bodies focuses on the CRB-701 program, which has received Fast Track designation from the U.S. Food and Drug Administration (FDA) for relapsed or refractory metastatic cervical cancer. Corbus Pharmaceuticals Holdings, Inc. plans an FDA meeting in Q1 2026.

Future pharmaceutical distribution networks are supported by the Company's financial position, which is expected to fund operations through Q2 2027 based on planned expenditures as of June 30, 2025, when cash, cash equivalents, and investment on hand totaled $116.6 million. Following a public offering that raised net proceeds of approximately $73.8M, the cash on hand as of September 30, 2025, was reported at $104.0M.

Investor conferences and press releases are used to communicate milestones, such as the Q2 2025 financial results reported on August 05, 2025 and the Q3 2025 results reported on November 12, 2025. The Company participated in the following events in late 2025:

• Guggenheim Healthcare Innovation Conference: November 12, 2025 at 1:00pm ET.
• Jefferies Global Healthcare Conference: November 18, 2025 at 4:00pm GMT.
• Evercore 8th Annual Healthcare Conference: December 2, 2025 at 3:50pm ET.

The CRB-701 Phase 1/2 dose expansion data was presented as a poster (#967P) at the European Society for Medical Oncology (ESMO) Congress on October 19, 2025 from 12:00-12:45 CEST.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Canvas Business Model: Customer Segments

Patients with Nectin-4 expressing solid tumors, including Head and Neck Squamous Cell Carcinoma (HNSCC) and metastatic Urothelial Carcinoma (mUC).

The CRB-701 Phase 1/2 study (NCT06265727) is designed to enroll approximately 348 patients with advanced solid tumors expressing Nectin-4 who have progressed after at least 1 prior therapy. As of September 1, 2025, the study had 167 enrolled participants, with 122 evaluable for efficacy. The patient population evaluated for efficacy included 41 HNSCC, 23 mUC, and 37 cervical cancer patients. Patients were heavily pretreated with a median of 3 prior lines of therapy.

Tumor Type (Nectin-4 expressing)	Evaluable Patients (as of 9/1/2025)	Objective Response Rate (ORR) at 3.6 mg/kg	Disease Control Rate (DCR) at 2.7 mg/kg
Head and Neck Squamous Cell Carcinoma (HNSCC)	41	47.6%	75.0%
Metastatic Urothelial Carcinoma (mUC)	23	55.6%	N/A
Cervical Cancer	37	37.5%	N/A

Historical market projections for related indications include the global urothelial carcinoma market reaching $6.82 billion in 2032 and the global cervical cancer treatment market reaching $12.63 billion by 2030.

Obese, non-diabetic patients for the CRB-913 program.

Development for CRB-913 is advancing toward a Phase 1b dose-ranging study in obese individuals, planned to commence in the fourth quarter of 2025. The preceding Phase 1 SAD/MAD study is expected to complete in the third quarter of 2025. Pre-clinical data indicated CRB-913 has a brain-to-plasma ratio fifty times lower than rimonabant and is fifteen times more peripherally restricted than monlunabant.

Oncologists and healthcare providers specializing in late-line cancer treatments.

The CRB-701 clinical trial is multi-center and being conducted in the U.S. and Europe. Key Opinion Leaders (KOLs) from institutions including the University of Chicago, Dana-Farber Cancer Institute, and Sarah Cannon Research Institute participated in a KOL event during ESMO 2025. The Company reported a net loss of approximately $23.3 million for the three months ended September 30, 2025.

Global pharmaceutical companies for potential regional licensing or acquisition.

Corbus Pharmaceuticals Holdings, Inc. completed a public offering in October 2025, with a total size of approximately $75 million, before expenses. As of September 30, 2025, the Company had $104.0 million in cash, cash equivalents, and investment on hand, which was extended into 2028 following the offering.

• The Company reported a net loss per basic and diluted share of $1.90 for the three months ended September 30, 2025.
• Operating expenses for the three months ended September 30, 2025, were approximately $24.4 million.
• The Company is headquartered in Norwood, Massachusetts.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Corbus Pharmaceuticals Holdings, Inc.'s operations as they push their pipeline through late-stage trials. For a clinical-stage biotech, the cost structure is dominated by science and trials, plain and simple.

The most immediate financial impact you see is the bottom line. Corbus Pharmaceuticals Holdings, Inc. reported a net loss of approximately $23.3 million for the three months ended September 30, 2025. This loss reflects the substantial investment required to advance their drug candidates, CRB-701, CRB-913, and CRB-601.

The overall operating expenses for the third quarter of 2025 were approximately $24.4 million, which was an increase of $8.9 million compared to the same period in 2024. This jump is almost entirely attributable to the escalating clinical development expenses across the portfolio.

Here's a look at the cost components, using the more detailed figures available from the second quarter of 2025 to illustrate the relative weight of these categories, remembering that R&D is the clear cost leader:

Cost Category	Q2 2025 Expense (in thousands)	Q2 2025 Expense (USD)	Primary Driver/Example
Research and Development (R&D)	15,187	$15.19 million	Clinical trial costs for CRB-701, CRB-913, and CRB-601 programs
General and Administrative (G&A)	3,965	$3.97 million	Executive compensation, finance, legal, and public company compliance
Total Operating Expenses	19,152	$19.15 million	Sum of R&D and G&A for Q2 2025

Clinical trial costs are the engine of that R&D spend. You're paying for everything that keeps the trials moving forward. It's defintely not cheap.

• Site payments to hospitals and clinics running the studies for CRB-701, CRB-913, and CRB-601.
• Drug supply manufacturing and logistics for the investigational products.
• Patient monitoring, data collection, and statistical analysis services provided by Contract Research Organizations (CROs).
• Costs associated with the CRB-701 combination arm dosing with pembrolizumab.

Manufacturing costs are embedded within R&D, especially for the Antibody Drug Conjugate (ADC) programs. For CRB-701, this involves the complex production of the drug itself, which targets Nectin-4 and uses monomethyl auristatin E (MMAE) as the payload, requiring precise conjugation at a specific drug-to-antibody ratio of 2.

General and Administrative (G&A) costs are the necessary overhead to remain a public entity and manage the business. While smaller than R&D, they are still significant, totaling nearly $4 million in Q2 2025.

• Executive and corporate team salaries, including the CEO, Dr. Yuval Cohen.
• Costs related to SEC filings, investor relations, and maintaining NASDAQ listing compliance.
• Legal fees for intellectual property protection and corporate governance.

To manage this high-burn rate, Corbus Pharmaceuticals Holdings, Inc. completed a $75 million public offering in November 2025, which they believe extends their cash runway into 2028. Finance: draft 13-week cash view by Friday.

Corbus Pharmaceuticals Holdings, Inc. (CRBP) - Canvas Business Model: Revenue Streams

You're looking at a company whose revenue model right now is almost entirely dependent on capital markets, which is typical for a clinical-stage biotech firm. As of late 2025, Corbus Pharmaceuticals Holdings, Inc. has $0K in product revenue because they are still deep in development. To be fair, their Q3 2025 financial results showed a net loss of approximately $23.3 million, which tells you exactly where the money is going: research and trials, not sales. That net loss is up from $13.8 million in the same period last year, showing the burn rate is increasing as they push programs forward.

The primary way Corbus Pharmaceuticals Holdings, Inc. funds these operations is through equity financing. Most recently, they completed a significant underwritten public offering in November 2025, raising approximately $75 million before expenses. This capital raise was crucial; the company stated this infusion extends their cash runway into 2028, giving them plenty of time to hit value-inflection points. For context, their cash position was $116.6 million as of June 30, 2025, and was projected to fund operations through Q2 2027. This new financing definitely helps shore up that runway. Honestly, this is the lifeblood for a company without product sales.

Here's a quick look at the funding and potential future value drivers:

• Recent Equity Raise Amount: $75 million
• Projected Cash Runway Extension: Into 2028
• Q3 2025 Net Loss: $23.3 million
• CRB-701 FDA Status: Fast Track for cervical cancer

Beyond equity, the next major potential revenue stream is tied to the existing partnership with CSPC Pharmaceutical Group for CRB-701, their Nectin-4 targeting Antibody Drug Conjugate (ADC). This deal is structured with significant contingent payments. CSPC is eligible to receive up to $130 million in potential development and regulatory milestone payments. Plus, there's a substantial upside from commercial success, with up to $555 million in potential commercial milestone payments. The total deal value, excluding royalties on net sales, is structured to reach $692.5 million.

Future revenue from product sales is the ultimate goal, driven by the three main pipeline assets. You need to watch the data readouts closely, as positive results are what trigger those milestone payments and attract future investment. CRB-701 showed an Objective Response Rate (ORR) of 47.6% in Head and Neck Squamous Cell Carcinoma (HNSCC) at the 3.6 mg/kg dose, and they are planning a registrational study for HNSCC starting mid-2026. For the obesity candidate, CRB-913, they expected to complete the SAD/MAD study and initiate a Phase 1b study in obese patients by the end of 2025. CRB-601 dose escalation data was also anticipated in Q4 2025. These clinical achievements are the precursors to any future product sales revenue.

Here is a breakdown of the potential future revenue components:

Revenue Source Category	Asset/Event	Potential Financial Amount (USD)	Status/Timeline
Equity Financing (Current Funding)	Public Offering (Completed Nov 2025)	$75 million	Secured; funds operations into 2028
Partnership Milestones (CSPC/CRB-701)	Development & Regulatory Milestones	Up to $130 million	Contingent on clinical/regulatory success
Partnership Milestones (CSPC/CRB-701)	Commercial Milestones	Up to $555 million	Contingent on product sales
Future Product Sales	CRB-701 (Oncology)	Royalties on Net Sales	Registrational study planned mid-2026
Future Product Sales	CRB-913 (Obesity)	Potential Sales Revenue	Phase 1b study expected Q4 2025

The immediate revenue stream is non-existent, relying on the $75 million capital raise to fund the path to potential product sales. Finance: draft 13-week cash view by Friday.