Corbus Pharmaceuticals Reports $16.98 Million Net Loss in Q1 2025, Increased R&D Expenses

Corbus Pharmaceuticals Holdings, Inc. reported a net loss of $16.98 million for the first quarter of 2025, compared to a net loss of $6.90 million for the same period in 2024. This represents a significant increase in losses, with the net loss per share rising to $1.39 from $0.83 year-over-year. The company's total operating expenses surged to $19.78 million, a 105% increase from $9.62 million in the prior year, primarily driven by a substantial rise in research and development costs, which reached $15.64 million, up from $5.76 million in the previous year.

The increase in operating expenses is attributed to heightened clinical trial activities for its product candidates, particularly CRB-701, CRB-601, and CRB-913. The company has been actively advancing its oncology and obesity pipelines, with CRB-701 currently undergoing a Phase 1 clinical trial in the U.S. and U.K., and CRB-913 having commenced its Phase 1 study in early 2025. The total research and development costs associated with these programs increased significantly, reflecting the company's commitment to advancing its clinical trials.

In terms of financial position, Corbus reported total current assets of approximately $137.36 million as of March 31, 2025, a decrease from $152.98 million at the end of 2024. The company’s cash and cash equivalents increased slightly to $18.90 million from $17.20 million, while investments decreased to $113.89 million from $131.86 million. The total liabilities also saw a minor reduction, totaling $12.83 million compared to $13.45 million at the end of the previous year. The accumulated deficit increased to approximately $493.87 million, reflecting the ongoing operational losses.

Corbus has not generated any revenue from product sales and does not expect to do so until it successfully completes development and obtains regulatory approval for its product candidates. The company anticipates continued operating losses and will require additional financing to support its ongoing clinical trials and operational activities. As of March 31, 2025, Corbus had approximately $132.8 million in cash, cash equivalents, and investments, which it expects will be sufficient to meet its operational needs through the second quarter of 2027.

Looking ahead, Corbus plans to continue its focus on advancing its clinical programs while seeking additional funding through equity or debt financing, collaborations, or government grants. The company acknowledges the uncertainty surrounding future financing and the potential impact on its ability to execute its business strategy.