Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) is reporting third quarter financial results on Tuesday 10th November 2020, before market open.
According to analysts surveyed by Thomson Reuters, CRBP is expected to report 3Q20 loss of $ 0.42 per share from revenue of $ 1.23 million.
For the full year, analysts anticipate top line of $ 5.82 million, while looking forward to loss of $ 1.68 per share bottom line.
Previous Quarter Performance
Corbus Pharmaceuticals Holdings, Inc. recorded loss for the second quarter of $ 0.52 per share, from the revenue of $ 0.29 million. The quarterly revenues shrunk 99.00 percent compared with the same quarter last year. The consensus estimates are loss of $ 0.39 per share from $ 2.99 million in revenue. The bottom line results missed street analysts by $ 0.13 or 33.33 percent, at the same time, top line results fell short of analysts by $ 2.7 million or 90.3 percent.
Stock Performance
Shares of Corbus Pharmaceuticals Holdings, Inc. traded up $ 0.09 or 7.96 percent on Monday, reaching $ 1.22 with volume of 4.74 million shares. Corbus Pharmaceuticals Holdings, Inc. has traded high as $ 1.22 and has cracked $ 1.10 on the downward trend
According to the previous trading day, closing price of $ 1.22, representing a 24.18 % increase from the 52 week low of $ 0.91 and a 88.45 % decrease over the 52 week high of $ 9.78.
The company has a market capital of $ 99.69 million and is part of the Healthcare sector and Biotechnology industry.
Recent Analyst recommendations
- On 8th October 2020, maintained by HC Wainwright at Buy rating, with $ 3.00 target price.
Conference Call
Corbus Pharmaceuticals Holdings, Inc. will be hosting a conference call at 8:30 AM eastern time on 10th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.corbuspharma.com
Corbus Pharmaceuticals Holdings, Inc., a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis. The company also has a license to develop, manufacture, and market CRB-4001, a 2nd generation peripherally-restricted, CB1 inverse agonist, which is in a preclinical stage to treat liver, lung, heart, and kidney fibrotic diseases.
