Corbus Pharmaceuticals Shares Collapse 30.3% on Phase 1/2 CRB-701 ASCO Data

CRBP•2026-05-26

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.