Corbus Pharmaceuticals Announces Uplisting to The NASDAQ Capital Market
Company Stock to Commence Trading on NASDAQ on April 16, 2015, Under Existing Ticker Symbol CRBP
NORWOOD, MA -- (Marketwired) -- 04/13/15 -- Corbus Pharmaceuticals Holdings, Inc. (OTCQB: CRBP) (the Company), an emerging drug development company focused on the development and commercialization of its lead product candidate, Resunab,™ for the treatment of rare, life-threatening inflammatory and fibrotic diseases, announced today that the NASDAQ Stock Market LLC has approved the Company's application to have its common stock listed on The NASDAQ Capital Market (NASDAQ). The stock will commence trading on The NASDAQ Capital Market on April 16, 2015, under its existing ticker symbol CRBP.
"Becoming a NASDAQ-listed company marks an important milestone for Corbus and reflects the hard work and dedication of our management team to build a strong, innovative, clinical stage biotech company," commented Sean Moran, CPA, MBA, Chief Financial Officer of Corbus Pharmaceuticals. "We believe that trading on NASDAQ will serve to raise the visibility of Corbus, enhance trading liquidity and broaden our shareholder base as we initiate our upcoming clinical studies with Resunab."
Yuval Cohen, Ph.D., Chief Executive Officer of Corbus, added, "Last month we achieved an important regulatory milestone having received clearance for our Investigational New Drug (IND) application for Resunab from the U.S. Food and Drug Administration. This IND enables us to proceed as planned with the initiation of our Phase 2 clinical study in diffuse cutaneous systemic sclerosis (scleroderma) and the submission of a Phase 2 protocol for the treatment of cystic fibrosis in the second quarter of 2015."
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-fibrotic diseases with clear unmet medical needs. Our lead product candidate, Resunab™, is a novel oral specialized pro-resolving mediator anti-inflammatory drug 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 13, 2015