Corbus Pharmaceuticals (CRBP) Oppenheimer 36th Annual Healthcare Life Sciences Conference summary

Pipeline overview and strategic focus

• Two lead clinical assets: CRB-701 (Nectin-4 ADC for oncology) and CRB-913 (peripherally restricted CB1 inverse agonist for obesity), both with significant data readouts expected in 2024.

• CRB-701 is differentiated by a proprietary antibody, site-specific conjugation, and a hyper-stable linker, resulting in lower peripheral neuropathy and skin toxicity compared to PADCEV.

• Strategic focus for CRB-701 is on tumor types where PADCEV is not present, targeting indications with less competition and clear clinical need.

• CRB-913 is the first truly peripherally restricted CB1 inverse agonist, showing promising early weight loss data and a favorable safety profile.

• Both programs are expected to deliver transformative data in the summer and end of 2024.

Clinical data and safety profile

• CRB-701 demonstrates exceptionally low rates of peripheral neuropathy and skin toxicity, with ocular toxicity (dry eye, keratitis) as a manageable side effect.

• Ocular toxicity is addressed with prophylactic eye drops and dose adjustments, aligning with FDA-mandated vigilance protocols for ADCs.

• Efficacy signals for CRB-701 observed in second-line cervical and head and neck cancers, with durability and response rates to be clarified in upcoming data.

• CRB-913 early studies show nearly 3% weight loss at two weeks, with all patients losing weight and minimal neuropsychiatric adverse events.

• Safety profile for CRB-913 is highly differentiated from earlier CB1 drugs, with very low incidence of neuropsychiatric side effects.

Competitive landscape and regulatory strategy

• CRB-701 aims to outperform Tivdak in second-line cervical cancer, which has a low efficacy bar and significant tolerability issues, despite Tivdak's high price and revenue.

• In head and neck cancer, CRB-701 is positioned to differentiate from Genmab's petosemtamab, with key questions around durability and patient stratification.

• Phase 3 planning for both indications involves controlled studies against physician's choice, with regulatory discussions expected to conclude by end of Q1.

• CRB-913 is benchmarked against orforglipron, with the one-year efficacy bar set at 10% weight loss; upcoming three-month data will be critical for competitiveness.

• Both programs are expected to have significant updates at major oncology and metabolic conferences in 2024.