Corbus Pharmaceuticals Files Q3 2024 10-Q
Ticker: CRBP · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1595097
Sentiment: neutral
Topics: 10-Q, pharmaceuticals, financials
TL;DR
Corbus Pharma's Q3 10-Q is in. Check financials.
AI Summary
Corbus Pharmaceuticals Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial position and business operations. Key financial data and operational updates are detailed within the filing, which covers the third quarter of 2024.
Why It Matters
This filing provides investors with an update on Corbus Pharmaceuticals' financial health and operational progress for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Corbus is subject to inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-11-07 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- Corbus Pharmaceuticals Holdings, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-07 (date) — Filing date
- 001-37348 (company) — SEC file number
- Cspc License Agreement (company) — Mentioned in relation to agreements
FAQ
What is the primary business of Corbus Pharmaceuticals Holdings, Inc.?
Corbus Pharmaceuticals Holdings, Inc. is in the business of pharmaceutical preparations, as indicated by its Standard Industrial Classification code [2834].
What is the reporting period for this 10-Q filing?
The conformed period of report is 20240930, meaning the filing covers the period ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on 20241107.
What is the SEC file number for Corbus Pharmaceuticals Holdings, Inc.?
The SEC file number for Corbus Pharmaceuticals Holdings, Inc. is 001-37348.
What is the company's fiscal year end?
The company's fiscal year ends on 1231.
Filing Stats: 4,463 words · 18 min read · ~15 pages · Grade level 16.5 · Accepted 2024-11-07 16:58:46
Key Financial Figures
- $0.0001 — ch Registered Common Stock, par value $0.0001 per share CRBP The Nasdaq Capital M
Filing Documents
- crbp-20240930.htm (10-Q) — 1686KB
- crbp-ex31_1.htm (EX-31.1) — 16KB
- crbp-ex31_2.htm (EX-31.2) — 16KB
- crbp-ex32_1.htm (EX-32.1) — 9KB
- crbp-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-123486.txt ( ) — 7975KB
- crbp-20240930.xsd (EX-101.SCH) — 1302KB
- crbp-20240930_htm.xml (XML) — 1312KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 26 Item 4.
Controls and Procedures
Controls and Procedures 26 PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 27 Item 1A.
Risk Factors
Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31
Signatures
Signatures 32 - 2 -
— FI NANCIAL INFORMATION
PART I — FI NANCIAL INFORMATION
Financial State ments
Item 1. Financial State ments. Corbus Pharmaceuticals Holdings, Inc. Condensed Consoli dated Balance Sheets (in thousands, except share and per share amounts) (Unaudited) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 19,423 $ 13,724 Investments 139,939 7,182 Restricted cash 285 192 Prepaid expenses and other current assets 1,243 2,448 Total current assets 160,890 23,546 Restricted cash 385 478 Property and equipment, net 519 973 Operating lease right-of-use assets 2,377 3,063 Other assets — 212 Total assets $ 164,171 $ 28,272 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Notes payable $ — $ 301 Accounts payable 2,887 3,179 Accrued expenses 7,176 11,030 Derivative liability — 39 Operating lease liabilities, current 1,562 1,437 Loan payable — 15,908 Total current liabilities 11,625 31,894 Other long-term liabilities — 44 Operating lease liabilities, noncurrent 2,048 3,239 Total liabilities 13,673 35,177 Stockholders' equity Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding at September 30, 2024 and December 31, 2023. — — Common stock, $ 0.0001 par value; 300,000,000 shares authorized, 12,179,482 and 4,423,683 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 1 — Additional paid-in capital 617,653 429,780 Accumulated deficit ( 467,363 ) ( 436,684 ) Accumulated other comprehensive gain (loss) 207 ( 1 ) Total stockholders' equity (deficit) 150,498 ( 6,905 ) Total liabilities and stockholders' equity $ 164,171 $ 28,272 See notes to the unaudited condensed consolidated financial statements. - 3 - Corbus Pharmaceuticals Holdings, Inc. Condensed Consolidated Statement s of Operations and Comprehensive Loss (in thousands,