Analyst Oliver McCammon of LifeSci Capital maintained a Buy rating on Corbus Pharmaceuticals, with a price target of $53.00.
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Oliver McCammon’s rating is based on Corbus Pharmaceuticals’ promising clinical programs and strong financial position. The company’s most advanced program, CRB-701, is showing encouraging results in its Phase 1 trial, particularly in patients with head and neck squamous cell carcinoma (HNSCC). The observed overall response rate and the potential to optimize dosing through the FDA’s Project Optimus are positive indicators for future success. Additionally, the strategic focus on underserved markets such as HNSCC and cervical cancer positions CRB-701 well for capturing market share.
Corbus’ financial health further supports the Buy rating, with the company ending the quarter with $116.6 million in cash and investments, providing a runway of approximately two years. This financial stability allows Corbus to continue advancing its clinical programs without immediate funding concerns. The development of CRB-913, a next-generation small molecule, also adds to the company’s potential, as it aims to address previous limitations of similar treatments. These factors collectively contribute to McCammon’s positive outlook on Corbus Pharmaceuticals.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $40.00 price target.