Corbus Pharmaceuticals Holdings Inc

NASDAQ:CRBPUnited States

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Corbus Pharmaceuticals Holdings, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (Unaudited) For the Three Months For the Nine Months Ended September 30, Ended September 30, ------------------------ ------------------------ 2024 2023 2024 2023 ----------- ---------- ----------- ---------- Operating expenses: Research and development $ 10,808 $ 6,551 $ 23,435 $ 24,188 General and administrative 4,697 2,937 12,681 10,786 ---------- --------- ---------- --------- Total operating expenses 15,505 9,488 36,116 34,974 ---------- --------- ---------- --------- Operating loss (15,505) (9,488) (36,116) (34,974) ---------- --------- ---------- --------- Other income (expense), net: Other income, net 713 218 4,317 630 Interest income 1,189 217 2,757 711 Interest expense (381) (980) (1,872) (2,928) Change in fair value of derivative liability -- -- 39 -- Foreign currency transaction gain (loss), net 201 (20) 196 (21) ---------- --------- ---------- --------- Other income (expense), net 1,722 (565) 5,437 (1,608) ---------- --------- ---------- --------- Net loss $ (13,783) $ (10,053) $ (30,679) $ (36,582) ========== ========= ========== ========= Net loss per share, basic and diluted $ (1.15) $ (2.27) $ (2.92) $ (8.52) ========== ========= ========== ========= Weighted average number of common shares outstanding, basic and diluted 12,014,700 4,423,617 10,490,981 4,295,178 ========== ========= ========== ========= Comprehensive loss: Net loss $ (13,783) $ (10,053) $ (30,679) $ (36,582) Other comprehensive (loss) income: Change in unrealized gain on marketable debt securities 595 16 208 119 ---------- --------- ---------- --------- Total other comprehensive income 595 16 208 119 ---------- --------- ---------- --------- Total comprehensive loss $ (13,188) $ (10,037) $ (30,471) $ (36,463) ========== ========= ========== ========= Corbus Pharmaceuticals Holdings, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) September 30, 2024 (Unaudited) 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 ================ ===============