Corbus Pharmaceuticals (CRBP) Goldman Sachs 45th Annual Global Healthcare Conference summary

Oncology program updates

• Nectin-4 ADC uses a proprietary linker and mAb, aiming for improved safety and longer half-life compared to Padcev, with lower free MMAE levels to reduce adverse events.

• Recent ASCO data showed a doubling of study participants in 90 days, with emerging patterns of longer half-life and a differentiated safety profile, notably low rates of peripheral neuropathy and skin rash.

• High dosing levels (up to 4.5 mg/kg) achieved with less free MMAE than Padcev at lower doses, supporting better tolerability.

• Positive efficacy signals observed in bladder and cervical cancers, with the latter showing first patient-level responses for a Nectin-4 ADC.

• U.S. study is recruiting Nectin-4 enriched solid tumor patients, with results expected by Q4 and data release in early 2025.

Metabolic disease and CB1 inverse agonist program

• CB1 inverse agonist targets metabolic organs and hedonic brain circuits, offering an orthogonal mechanism to incretins for obesity treatment.

• Second-generation CB1 programs are peripherally restricted to avoid CNS side effects, inspired by prior setbacks with first-generation drugs.

• Novo Nordisk’s acquisition of Inversago and their ongoing phase II-A study are expected to provide key efficacy and safety read-through for similar compounds.

• Inversago’s phase I-B showed satisfactory weight loss and no increase in suicidal ideation, with Novo’s larger study targeting 16%-19% annualized weight loss.

• Future clinical strategy will mirror industry standards, with dose response studies and potential for monotherapy if high efficacy is confirmed.

Commercial and clinical landscape considerations

• CB1 inverse agonists could address unmet needs in patients non-responsive or intolerant to incretins, and those at risk of sarcopenia.

• Real-world data show high dropout rates for incretin therapies due to adverse events, highlighting the need for better-tolerated alternatives.

• Combination therapies and induction-maintenance models are envisioned, with CB1 as a maintenance option after initial weight loss with injectables.

• Oral, once-daily CB1 drugs could offer a sustainable, long-term solution for weight maintenance.