After carefully building up expectations, a small-cap biotech’s big plans come crashing down in PhIII catastrophe
Corbus Pharmaceuticals spent years building up investors’ hopes in lenabasum. It took seconds to puncture those expectations and destroy the stock $CRBP price.
Early Tuesday the biotech reported that their Phase III study of the drug for a rare autoimmune disease did exactly nothing compared to a placebo. The company’s CEO blamed it on the placebo response, which was high.
Tested among patients with diffuse cutaneous systemic sclerosis, better known as scleroderma, Corbus reported:
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