Yuval Cohen (Corbus via YouTube)

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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