Noble Financial Capital Markets has initiated coverage of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) with a BUY rating and a 12-month target price of $6.00.
Corbus Pharmaceuticals is a clinical stage drug development company targeting rare, chronic, and serious inflammatory and fibrotic diseases with clear unmet needs. Corbus Pharmaceuticals’ lead product candidate, ResunabTM, is an oral cannabinoid receptor agonist with selective binding to cannabinoid receptor 2 (CB2) expressed on immune cells; ResunabTM has advantages over conventional cannabinoid receptor agonists; therapeutic potential in chronic inflammatory diseases where resolution of inflammation is impaired. Managing Director, Biotechnology Research, Rahul Jasuja, PhD, and Vice President, Biotechnology Research, Kumaraguru Raja, PhD note “ResunabTM may provide a novel approach to fulfill the unmet need in controlling inflammation in cystic fibrosis, as well as in other rare diseases such as systemic sclerosis and dermatomyositis for which there are no approved therapies; Phase 2a trials ongoing in all three indications.”
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