10-K · March 9, 2026
Corbus is a clinical‑stage biotech with two lead programs: CRB‑701 (ADC for Nectin‑4 cancers) and CRB‑913 (peripherally‑restricted CB1 inverse agonist for obesity). Financially the company widened losses in 2025 (net…
Earnings analysis · 10-Q
CRBP earnings analysis
Filed May 12, 2026 · Our reading of the company's report
The latest report
Corbus Pharmaceuticals reported a net loss of $23.0 million for Q1 2026, with an EPS of $(1.23), indicating a wider loss compared to $(1.39) in Q1 2025. Operating expenses surged to $24.3 million, driven by increased…
Read full summary
Corbus Pharmaceuticals reported a net loss of $23.0 million for Q1 2026, with an EPS of $(1.23), indicating a wider loss compared to $(1.39) in Q1 2025. Operating expenses surged to $24.3 million, driven by increased clinical development costs, reflecting the company's ongoing push in drug development despite not generating any revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.23
What stood out
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Wider Net Loss Year-over-Year
Net loss for Q1 2026 was $23.0 million, compared to $17.0 million in Q1 2025.
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Increased Operating Expenses
Operating expenses rose to $24.3 million in Q1 2026 from $19.8 million in Q1 2025.
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Higher R&D Costs
R&D expenses increased to $19.8 million in Q1 2026, up from $15.6 million in Q1 2025.
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Cash Reserves Available
The company had approximately $138.6 million in cash, cash equivalents, and investments at the end of Q1 2026.
What to watch
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Increased Operating Costs
Operating costs rose significantly with total operating expenses reaching $24.3 million, potentially unsustainable without revenue.
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Ongoing Cash Burn
Cash used in operating activities for Q1 2026 was $25.6 million, reflecting continued negative cash flows.
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Regulatory Approval Delays
The success of product candidates, such as CRB-701 and CRB-913, remains uncertain and dependent on regulatory approvals.
Management's outlook
The company did not provide specific revenue or EPS guidance.
Earlier filings 4
10-K · March 11, 2025
Corbus Pharmaceuticals (CRBP) is a clinical-stage oncology and obesity company progressing three programs: CRB-701 (ADC, Phase 1 China & Western), CRB-601 (Phase 1 dose escalation) and CRB-913 (IND-enabling, Phase 1…
10-Q · November 7, 2023
Corbus reported no product revenues and continues to operate at a loss while advancing its oncology pipeline. Cash and liquid investments were ~$29.4M at September 30, 2023, but management states this will not be…
10-Q · August 8, 2023
Corbus Pharmaceuticals reported no revenue for Q2 2023, continuing its trend of significant operating losses. The company posted a net loss of approximately $8,784,000 for the quarter, an improvement compared to a loss…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.