Corbus Pharmaceuticals Shares Collapse 30.3% on Phase 1/2 CRB-701 ASCO Data
CRBP•Corbus Pharmaceuticals shares plunged 30.31% to $7.91 on 3.65 million shares traded following its Phase 1/2 CRB-701 clinical data update presented at ASCO. Despite the company describing robust anti-tumor activity, heavy selling pressure offset optimism around the cancer drug study findings.
1. Shares Plummet After ASCO Data
Corbus Pharmaceuticals saw its share price slide 30.31% to $7.91 on trading volume of 3.65 million shares as investors sold heavily following the clinical data release. The sell-off accounted for a significant portion of daily volume, indicating investors reacted decisively to the announcement.
2. Phase 1/2 CRB-701 Data Highlights Robust Activity
The ASCO presentation outlined early signs of anti-tumor response from the Phase 1/2 CRB-701 study, with the company describing the activity as robust. Absence of detailed efficacy metrics and safety data led investors to reassess the drug’s near-term prospects.
Related News
Quoin Pharmaceuticals Announces FDA Fast Track Designation For QRX003 For The Treatment Of Peeling Skin Syndrome
Bank of America joins global bank consortium to set principles for trusted agentic commerce
