Corbus Pharmaceuticals Announces Initiation of Trading on The Nasdaq Capital Market
Company to Ring The Nasdaq Stock Market Closing Bell on April 17, 2015
NORWOOD, MA -- (Marketwired) -- 04/16/15 -- Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), a clinical stage drug development company focused on the development and commercialization of treatments for rare, life-threatening inflammatory and fibrotic diseases, announced that its common stock will begin trading today on The Nasdaq Capital Market (NASDAQ) under the current ticker symbol, CRBP.
In honor of the occasion, Yuval Cohen, Ph.D., Chief Executive Officer of Corbus Pharmaceuticals, will ring The Nasdaq Stock Market Closing Bell on Friday, April 17, 2015.
"We are very proud to become a Nasdaq listed company and look forward to the opportunities that such a listing can provide," said Dr. Cohen. "Reaching this milestone and getting ready to commence our Phase 2 trials are significant achievements for Corbus, reflecting the talent, hard work and dedication of our exceptional team. We look forward to shortly initiating our clinical trials with our lead product candidate, Resunab™, for the treatment of systemic sclerosis and cystic fibrosis now that we have an open IND for these studies."
Resunab™ is a novel synthetic oral drug with unique anti-inflammatory and anti-fibrotic activity. Pre-clinical and Phase 1 clinical studies have shown Resunab to have a favorable safety profile coupled with promising potency in pre-clinical models of inflammation and fibrosis. Resunab binds to the CB2 receptor on immune cells and triggers a process known as "inflammatory resolution," in effect turning chronic inflammation "off."
About Corbus Pharmaceuticals
Corbus Pharmaceuticals is a clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare life-threatening inflammatory and fibrotic diseases. Our lead product candidate Resunab™ is a novel oral drug that resolves chronic inflammation and pro-fibrotic processes. Resunab is scheduled to commence Phase 2 clinical trials for the treatment of cystic fibrosis and diffuse cutaneous systemic sclerosis (scleroderma) in 2015. For more information, please visit www.CorbusPharma.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.
These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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Source: Corbus Pharmaceuticals Holdings, Inc.
Released April 16, 2015