Corbus Pharmaceuticals (CRBP) Q2 2026 earnings summary

Executive summary

• Focused on developing oncology and obesity therapies, with lead programs CRB-701 (Nectin-4 ADC for cancer) and CRB-913 (CB1 inverse agonist for obesity).

• FDA cleared registrational TEMPO-1 study of CRB-701 in 2L oropharyngeal cancer; enrollment to begin September 2026.

• Completed last patient visit in CANYON-1 Phase 1b study of CRB-913 for obesity; data expected September 2026.

• Presented positive clinical data for CRB-701 at ASCO 2026 and advanced CRB-913 into Phase 1b.

• Strengthened leadership with new Chief Medical Officer, Chief Business Officer, and Board member appointments.

Financial highlights

• Net loss for Q2 2026 was $35.0 million, up from $17.7 million in Q2 2025; six-month net loss was $58.0 million, up from $34.6 million year-over-year.

• Operating expenses for Q2 2026 were $36.2 million, up 89% year-over-year, mainly due to increased clinical development costs and a $10 million milestone payment for CRB-701.

• Cash, cash equivalents, investments, and restricted cash totaled $118.3 million as of June 30, 2026; $117.9 million expected to fund operations into 2028.

• Net cash used in operating activities for the first half of 2026 was $55.2 million.

• Raised $9.1 million from open market sales of common stock in the first half of 2026.

Outlook and guidance

• Cash and investments expected to fund operations for at least 12 months from the report date and potentially into 2028.

• Enrollment for TEMPO-1 Phase 3 study of CRB-701 to start September 2026.

• Topline data from CANYON-1 Phase 1b study of CRB-913 in obesity anticipated in September 2026.

• CRB-701 + Keytruda combination data in 1L OPSCC expected in Q1 2027.

• Will require significant additional capital to fund ongoing and future clinical trials.