Corbus Pharmaceuticals (CRBP) Q4 2025 earnings summary

Executive summary

• Presented promising efficacy data for CRB-701 in head and neck squamous cell carcinoma (HNSCC) and cervical cancer at ESMO 2025, with further data expected in mid-2026 focusing on durability and patient stratification.

• Reported rapid and potent weight loss with CRB-913 in a Phase 1a study, showing a 2.9% placebo-adjusted reduction at 14 days and favorable GI safety; a 12-week obesity study is on track for completion in summer 2026.

• Completed a $75 million public offering in Q4 2025, extending the cash runway into 2028.

Financial highlights

• Net loss for Q4 2025 was $20.6 million, or $1.25 per share, compared to $9.5 million, or $0.78 per share, in Q4 2024.

• Operating expenses rose to $22.0 million in Q4 2025 from $12.6 million in Q4 2024, mainly due to increased clinical development costs.

• Cash, cash equivalents, and investments totaled $163.3 million at year-end 2025.

Outlook and guidance

• Key data readouts for CRB-701 and CRB-913 are anticipated in summer 2026, with registrational study protocol updates for CRB-701 expected in Q1 2026.

• CRB-701 + Keytruda combination data in first-line HNSCC patients is expected in Q4 2026.

• The cash position is expected to fund operations into 2028 based on current plans.