Q1 Financials; Previewing Data Ahead of ASCO Updates in HNSCC, Cervical Cancer

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Q1 Financials; Previewing Data Ahead of ASCO Updates in HNSCC, Cervical Cancer

Company Report

May 13, 2026 Corbus Pharmaceuticals (CRBP)

Rating: Q1 Financials; Previewing Data Ahead of ASCO Updates inOUTPERFORM HNSCC, Cervical CancerPrice:

$11.04

12-Month Price Target: The Wedbush View

$38.00

CRBP reported first quarter financials and provided corporate updates ahead of

Analysts updated CRB-701 data at the ASCO 2026 Annual Meeting on May 29-30. Data

Robert Driscoll, Ph.D. updates will include presentations for the Nectin-4 ADC in both cervical cancer

(415) 274-6863 (5508) and HNSCC (6062). As a reminder, expansion data across both indicationsRobert.Driscoll@wedbush.com was presented at ESMO last year (see our note, here); overall, 167 patients wereGeoffrey Von Der Ahe

(628) 223-0517 enrolled to receive CRB-701 at either 2.7 or 3.6 mg/kg dose cohort. In HNSCC, ORR

geoffrey.vonderahe@wedbush.com was 47.6% (10/21; 7 confirmed), and 33.3% (4/12; all confirmed), at the 3.6 and

2.7 mg/kg cohorts, respectively, alongside DCRs of 61.9% and 75.0%. Importantly,

responses were observed irrespective of Nectin-4 expression, HPV-status, or PD-

Company Information L1 expression. Further, in cervical cancer, ORR was 37.5% (6/16) at the 3.6 mg/kg

Market Cap (M) $194 dose level and 22.2% (4/18) at 2.7 mg/kg, alongside comparable DCRs of 68.8%Enterprise Value (M) $36

Shares Outst (M) 18.8 and 66.6%, respectively. We look forward to upcoming ASCO data to provide an

52-Week Range $6.53 - $20.56 initial look at durability in these patient populations, as well as additional subgroup

Cash/sh $9.56 analyses in both HNSCC and cervical cancer. CRBP plans to initiate a registrational

Net Debt (M) $(116.60) trial in 2L HNSCC over the summer, following recently announced alignment with