spawns Corbus Pharmaceuticals ( NASDAQ: CRBP ) shares climbed more than 11% on Tuesday ahead of a presentation at the Goldman Sachs Global Healthcare Conference tomorrow. Nearly 294K Corbus ( CRBP ) shares have changed hands compared to the 65-day average of ~256.6K as the stock ended a four-day losing streak.
Ahead of the event, RBC Capital Markets raised its price target on the Norwood, Massachusetts-based biotech from $77 to a Street high of $82 per share. With an Outperform rating, analyst Brian Abrahams cited a positive readthrough to the company's weight loss candidate CRB-913 from an upcoming readout for INV-202, an obesity therapy developed by Novo Nordisk ( NVO ). INV-202, added to Novo's ( NVO ) pipeline with its recent Inversago Pharma acquisition, is designed to target the cannabinoid type-1 ("CB1") receptor similar to CRB-913.
In its latest 10-Q filing, Corbus ( CRBP ) disclosed plans to begin dosing in a Phase 1 trial for CRB-913 in Q1 2025. "Our deep dive analysis shows considerable structural and preclinical similarities between ‘913 and ‘202, with potential for ‘913 to be safer but likely not meaningfully less efficacious," Abrahams wrote. Corbus ( CRBP ) is scheduled to provide a corporate update at the Goldman Sachs conference on Wednesday at 2:40 p.
m. ET. More on Corbus Pharmaceuticals Corbus: Nectin-4 Targeting Proven With U.
S. Data On The Way Early 2025 Neutral On Corbus Pharmaceuticals' Financials And Clinical Progress In Oncology Corbus outlines .
