Corbus Pharmaceuticals Holdings, Inc. Files 10-K/A Amendment

TL;DR

<b>Corbus Pharmaceuticals Holdings, Inc. has filed an amendment to its 2023 annual report, providing updated financial and operational information.</b>

AI Summary

Corbus Pharmaceuticals Holdings, Inc. (CRBP) filed a Amended Annual Report (10-K/A) with the SEC on March 20, 2024. Corbus Pharmaceuticals Holdings, Inc. filed an amendment (10-K/A) to its annual report on March 20, 2024. The filing covers the fiscal year ended December 31, 2023. The company is incorporated in Delaware and has its principal executive offices in Norwood, Massachusetts. Corbus Pharmaceuticals Holdings, Inc. is registered under the SIC code 2834 for Pharmaceutical Preparations. The company's common stock is traded on The Nasdaq Capital Market under the symbol CRBP.

Why It Matters

For investors and stakeholders tracking Corbus Pharmaceuticals Holdings, Inc., this filing contains several important signals. This amendment indicates a need for updated disclosures or corrections to the original 10-K filing, which could impact investor understanding of the company's financial health and strategic direction. As a non-accelerated and smaller reporting company, the filing provides insight into the company's current status and compliance with SEC reporting requirements.

Risk Assessment

Risk Level: low — Corbus Pharmaceuticals Holdings, Inc. shows low risk based on this filing. The filing is an amendment to a 10-K, suggesting potential corrections or updates rather than new material events, and the company is classified as a smaller reporting company, indicating a lower level of public scrutiny compared to large accelerated filers.

Analyst Insight

Investors should review the specific changes made in this 10-K/A filing to understand any revised financial data or disclosures relevant to Corbus Pharmaceuticals Holdings, Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (The period covered by the 10-K/A filing.)
• 001-37348 — Commission File Number (SEC file number for Corbus Pharmaceuticals Holdings, Inc.)
• 46-4348039 — IRS Number (Employer Identification Number for Corbus Pharmaceuticals Holdings, Inc.)
• 0000950170-24-034266 — Accession Number (Unique identifier for the SEC filing.)

Key Players & Entities

• Corbus Pharmaceuticals Holdings, Inc. (company) — Registrant name
• CRBP (company) — Trading symbol
• 2024-03-20 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• The Nasdaq Capital Market (company) — Exchange where common stock is registered
• Delaware (jurisdiction) — State of incorporation
• Norwood, Massachusetts (location) — Address of principal executive offices
• 2834 (other) — Standard Industrial Classification code

FAQ

Industry Context

Corbus Pharmaceuticals Holdings, Inc. operates within the pharmaceutical preparations industry, focusing on the development of novel therapeutics.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including the filing of annual reports (10-K) and amendments.

What Investors Should Do

1. Review the specific amendments made in the 10-K/A filing for any material changes to financial statements or business descriptions.
2. Monitor future filings for ongoing developments in Corbus Pharmaceuticals' drug pipeline and regulatory status.
3. Assess the company's financial position and operational performance based on the updated disclosures in the amendment.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the annual report.
• 2024-03-20: Filing Date — Date the 10-K/A amendment was filed with the SEC.

Year-Over-Year Comparison

This filing is an amendment (10-K/A) to the original 10-K, indicating updates or corrections to previously submitted information for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share CRBP The Nasdaq Capital M
• $598,850 — (2) Total ($) Yuval Cohen 2023 $598,850 $283,855 $— $229,842 $— $25,0
• $283,855 — ($) Yuval Cohen 2023 $598,850 $283,855 $— $229,842 $— $25,075 $1,137
• $229,842 — hen 2023 $598,850 $283,855 $— $229,842 $— $25,075 $1,137,622 Chief Exe
• $25,075 — 8,850 $283,855 $— $229,842 $— $25,075 $1,137,622 Chief Executive Officer
• $1,137,622 — 83,855 $— $229,842 $— $25,075 $1,137,622 Chief Executive Officer 2022 $598
• $598,071 — ,622 Chief Executive Officer 2022 $598,071 $277,728 $— $552,172 $— $14,8
• $277,728 — f Executive Officer 2022 $598,071 $277,728 $— $552,172 $— $14,870 $1,442
• $552,172 — cer 2022 $598,071 $277,728 $— $552,172 $— $14,870 $1,442,841 Sean Mora
• $14,870 — 8,071 $277,728 $— $552,172 $— $14,870 $1,442,841 Sean Moran 2023 $444
• $1,442,841 — 77,728 $— $552,172 $— $14,870 $1,442,841 Sean Moran 2023 $444,971 $135,4
• $444,971 — ,870 $1,442,841 Sean Moran 2023 $444,971 $135,403 $— $107,975 $— $28,9
• $135,403 — 42,841 Sean Moran 2023 $444,971 $135,403 $— $107,975 $— $28,907 $717,2
• $107,975 — ran 2023 $444,971 $135,403 $— $107,975 $— $28,907 $717,256 Chief Finan
• $28,907 — 4,971 $135,403 $— $107,975 $— $28,907 $717,256 Chief Financial Officer

Filing Documents

• crbp-20231231.htm (10-K/A) — 437KB
• crbp-ex31_1.htm (EX-31.1) — 13KB
• crbp-ex31_2.htm (EX-31.2) — 13KB
• 0000950170-24-034266.txt (&nbsp;) — 2951KB
• crbp-20231231.xsd (EX-101.SCH) — 1672KB
• crbp-20231231_htm.xml (XML) — 11KB

Executive Compensation

Executive Compensation 1 PART IV 15. Exhibits and Financial Statement Schedules 8 PART III

EXECUTIVE COMPENSATION

Item 11. EXECUTIVE COMPENSATION

Executive Compensation

Executive Compensation Our named executive officers for the year ended December 31, 2023 were Yuval Cohen, Ph.D., Director and Chief Executive Officer; Sean Moran, CPA, Chief Financial Officer and Rachael Brake, Ph.D. former Chief Scientific Officer. Summary Compensation Table The following table presents information regarding the total compensation awarded to, earned by, or paid to our chief executive officer and the two most highly-compensated executive officers (other than the chief executive officer) who were serving as executive officers as of December 31, 2023 and December 31, 2022 for services rendered in all capacities to us for the year ended December 31, 2023 and December 31, 2022. These individuals are our named executive officers for 2023. Name and Principal Position Year Salary ($) Bonus ($) Stock Awards ($) Option Awards ($) (1) Non-equity Incentive Plan Compensation ($) All Other Compensation ($) (2) Total ($) Yuval Cohen 2023 $598,850 $283,855 $— $229,842 $— $25,075 $1,137,622 Chief Executive Officer 2022 $598,071 $277,728 $— $552,172 $— $14,870 $1,442,841 Sean Moran 2023 $444,971 $135,403 $— $107,975 $— $28,907 $717,256 Chief Financial Officer 2022 $427,933 $132,480 $— $199,563 $— $18,640 $778,616 Rachael Brake 2023 $453,980 $200,000 $— $161,735 $— $24,152 $839,867 Chief Scientific Officer 2022 $427,779 $108,986 $— $211,573 $— $15,457 $763,795 (1) Amounts reflect the grant date fair value of option awards granted in 2023 and 2022 in accordance with Accounting Standards Codification Topic 718. For information regarding assumptions underlying the valuation of equity awards, see Note 3 to our Consolidated Financial Statements and the discussion under "Management's Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies and Estimates - Stock-Based Compensation" included i

View Full Filing

View this 10-K/A filing on SEC EDGAR