NORWOOD, Mass., Jan. 31, 2024 (GLOBE NEWSWIRE) — Corbus Pharmaceuticals Holdings, Inc. (Nasdaq: CRBP), a precision oncology company with a diversified portfolio, today announced the pricing of an underwritten public offering of 4,325,000 shares of its common stock at a public offering price of $19.00 per share, for a total public offering size of approximately $82.2 million, before deducting underwriting discounts and estimated offering expenses. In addition, Corbus has granted the underwriters a 30-day option to purchase up to an additional 648,750 shares of its common stock on the same terms and conditions. All of the securities in the offering are being sold by Corbus. The offering is expected to close on or about February 2, 2024, subject to customary closing conditions.
Corbus intends to use the net proceeds of the offering to fund the clinical development of its pipeline and for working capital and other general corporate purposes.
Jefferies is acting as sole book-running manager for the offering. H.C. Wainwright & Co. and Oppenheimer & Co. are acting as lead managers for the offering.
Corbus Pharmaceuticals Holdings, Inc. is a precision oncology company with a diversified portfolio and is committed to helping people defeat serious illness by bringing innovative scientific approaches to well understood biological pathways. Corbus’ pipeline includes CRB-701, a next generation antibody drug conjugate that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload, CRB-601, an anti-integrin monoclonal antibody which blocks the activation of TGFβ expressed on cancer cells, and CRB-913, a highly peripherally restricted CB1 inverse agonist for the treatment of obesity. Corbus is headquartered in Norwood, Massachusetts.