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Corbus Stock Down as Lenabasum Fails to Meet Primary Endpoint

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Shares of Corbus Pharmaceuticals Holdings, Inc. (CRBP - Free Report) fell 35.9% after it announced disappointing top-line results from its 28-week phase IIb study of lenabasum in patients with cystic fibrosis (CF). However, shares of the company have slumped 77.8% year to date compared with the industry’s decline of 7.9%.

CF-002 was a multinational phase IIb study evaluating the efficacy and safety of lenabasum in CF. The study enrolled patients in the United States, Canada and Europe at high risk ofrecurrent pulmonary exacerbations (PEx). Patients were randomized to receive either 5 mg or 20 mg of lenabasum, or placebo, twice daily. While lenabasum had a favorable safety profile and was well-tolerated, the 28-week study did not meet its primary endpoint of a statistically significant reduction in the rate of new PEx per subject per 28 weeks.

Lenabasum, is a novel, oral, selective cannabinoid receptor type 2 (CB2) agonist that resolves chronic inflammation and limits fibrosis in animal and human models. The drugis currently being evaluated in dermatomyositis and systemic lupus erythematosus. Corbus is also developing a pipeline of other drug candidates from its endocannabinoid system platform.

There are several other companies,whichhave products either developed or in development for the treatment of CF. Vertex Pharmaceuticals Incorporated (VRTX - Free Report) has Kalydeco in its portfolio for CF. Another company, AzurRx (AZRX - Free Report) , is evaluating MS1819 in combination with porcine enzyme replacement therapy (PERT) in twoclinical programs examining MS1819 in a phase IIb CF monotherapy and phase II CF combination approach.


Zacks Rank & A Stock to Consider

Corbus currently carries a Zacks Rank #4 (Sell).

A better-ranked stock in the healthcare sector includes Emergent Biosolutions Inc. (EBS - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Emergent’s earnings estimates have increased from $4.03 to $6.61 for 2020 and from $5.07 to $8.42 for 2021 over the past 90 days. Shares of the company have increased 106.3% year to date.

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