Corbus Pharmaceuticals Reaches 2-Year High After Drug Results
By Josh Beckerman
Corbus Pharmaceuticals reached a two-year high Monday after the company reported favorable results for oncology drug SYS6002 (CRB-701) from a study by Chinese partner CSPC Pharmaceutical Group.
The stock was recently at $48.01, up 12%. Its intraday high was $50.48.
The Phase 1 study is evaluating safety and tolerability in patients with advanced solid tumors who have failed or were intolerant to standard treatment. Corbus said the results increase its confidence that CRB-701 is clinically active and called emerging safety data reassuring, with low rates of skin rash and peripheral neuropathy and very few grade 3 adverse events.
Corbus said a corresponding U.S. clinical study is expected to be on schedule for completion in the fourth quarter.
RBC Capital Markets said the data confirms the drug's activity and "further elucidates" its safety profile and potential differentiation, while Oppenheimer said the drug "continues to appear positively differentiated from competitors." Oppenheimer raised its price target to $80 from $60.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
June 03, 2024 13:26 ET (17:26 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks