Corbus Posts $1.81 Q2 Loss Per Share, Wider Than Expected
CRBP sits 27% above its 52-week low of $7.12.
Summary
Corbus reported a Q2 loss of $1.81 per share, significantly wider than the $1.23 loss in Q1. The company is burning cash rapidly, with a market cap of only $177M and an existing $300M shelf registration. This follows the recent FDA clearance to begin the TEMPO-1 registrational study for CRB-701, which will require substantial funding. The widening loss raises urgency around the upcoming capital raise and the need for clinical data to support valuation.
At the time of this announcement, CRBP was trading at $9.07 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $177.3M. The 52-week trading range was $7.12 to $20.56. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.