1Q: Major HNSCC Update at ASCO, Obesity Data in Summer

Research evidence excerpt

1Q: Major HNSCC Update at ASCO, Obesity Data in Summer

USA | Biotechnology

Corbus Pharmaceuticals EquityMayResearch12, 2026

TARGET | ESTIMATE CHANGE1Q: Major HNSCC Update at ASCO, Obesity Data

RATING BUYin Summer

PRICE $11.04^

CRBP is entering a catalyst-dense summer, w/ updated CRB-701 2L+ HNSCC

data at ASCO adding PFS/DoR and clearer HPV+/– stratification. While the 2L PRICE TARGET | % TO PT $33.00 ($36.00) | +199%

HPV+ HNSCC oppty may be limited, meaningful differentiation in HPV+ vs HPV- 52W HIGH-LOW $20.56 - $6.53

in 2L should be translatable to 1L where the mkt is 2-3x bigger. Separately, FLOAT (%) | ADV MM (USD) 85.6% | 3.16

CRB-913 ph.Ib obesity topline is also due this summer and remains a major MARKET CAP $206.4M

swing catalyst, w/ safety (neuropsych AEs) the key variable. TICKER CRBP ^Prior trading day's closing price unless otherwise

noted.

Price: Intraday

Next key catalyst for CRBP is updated CRB-701 ph.I/II monotx data at ASCO 2026 in 2L+ HNSCC

(and cervical), adding durability (PFS/DoR) and clearer HPV+/– stratification. Two HNSCC

posters on CRB-701 will be presented (CRBP Saturday; CSPC Sunday), plus a Friday CRBP oral w/ FY (Dec) CHANGE TO JEFe JEF vs CONS

updated cervical cancer results. Co will also host a 6:30am CT investor event on Monday, June 1, 2026 2027 2026 2027

to discuss the updated HNSCC data. REV NA NA NA NA

EPS -3% -3% -16% -28%

In HNSCC, we think a clean efficacy edge in HPV+ could be a meaningful stock mover

(+50%/-40%), and at ASCO co could clarify whether the planned 2L registrational approach

is HPV+ only or HPV-agnostic. Ongoing registrational studies in HNSCC from JNJ and BCAX 2026 ($) Q1A Q2 Q3 Q4 FY

are enrolling HPV-neg only, while GMAB/MRUS remains the sole HPV-agnostic pivotal program. EPS (1.23) (1.16) (0.82) (0.83) (3.90)