Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) decreased 1.5% in pre-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share increased 71.15% year over year to ($0.15), which missed the estimate of ($0.12).
Revenue of $136,558 decreased by 52.31% year over year, which missed the estimate of $870,000.
Guidance
Earnings guidance hasn’t been issued by the company for now.
Corbus Pharmaceuticals hasn’t issued any revenue guidance for the time being.
Price Action
Company’s 52-week high was at $9.78
52-week low: $0.91
Price action over last quarter: down 21.56%
Company Description
Corbus Pharmaceuticals Holdings Inc is a clinical-stage pharmaceutical company focused on the development and commercialization of novel therapeutics for endocannabinoid or immune system. The company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus.
