Corbus Pharma's Positive Resunab Results Garners A Reiterated Buy From Cantor

Corbus Pharmaceuticals Holdings Inc CRBP announced positive results for the Phase 2 study of Resunab for diffuse cutaneous systemic sclerosis.

Cantor Fitzgerald’s Elemer Piros reiterated a Buy rating on the company, with a price target of $17.

Positive Data

“Resunab achieves median CRISS score of 33 percent versus placebo 0 percent at 16 weeks, demonstrating clinical activity in target Scleroderma patients,” Piros mentioned.

The stock surged 87.2 percent to $10.95 in pre-market trade on November 14, following the positive results being announced.

The three-month study on 42 patients revealed that the drug candidate achieved a median CRISS score, which was the primary endpoint of the trial, at 16 weeks.

The CRISS evaluates changes in lung capacity, skin hardening and assessments of benefits by both physicians and patients, following the use of Resunab, as compared to a placebo, Corbus Pharma explained.

“We view these data as positive, which are in-line with our expectations,” Piros added.

At last check, Corbus was up 68.80 percent t $9.88.