An­oth­er Cor­bus pro­gram hits the skids af­ter late-stage flop, plum­met­ing the small biotech's shares

Cor­bus Phar­ma­ceu­ti­cals’ plans to po­si­tion lenaba­sum as a pipeline-in-a-prod­uct aren’t go­ing so well.

Af­ter shelv­ing a pro­gram in scle­ro­der­ma, the Nor­wood, MA-based biotech has re­vealed that its lead can­di­date failed both the pri­ma­ry and sec­ondary end­points in an­oth­er Phase III tri­al.

Lenaba­sum failed to show a sta­tis­ti­cal­ly sig­nif­i­cant dif­fer­ence in to­tal im­prove­ment com­pared with place­bo in treat­ing der­mato­myosi­tis, a rare dis­ease that caus­es mus­cle in­flam­ma­tion and skin rash, the com­pa­ny said Thurs­day. The news sent Cor­bus’ $CRBP stock spi­ral­ing around 30% ear­ly Thurs­day morn­ing.

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