Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 08:30 am ET


Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Q2 2020 Earnings Conference Call - Final Transcript


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Hello, and welcome to the Corbus Pharmaceuticals Second Quarter August 6th, 2020 Earnings Conference Call. [Operator Instructions] This conference is being recorded at the Company's request and will be available on the Company's website following the end of the call.

I will now turn the conference over to your host, Ted Jenkins, Senior Director, Investor Relations and Corporate Communications. Please go ahead, sir.

Ted Jenkins

Thank you, Brock. Good morning, everyone. At this time, I'd like to remind our listeners that remarks made during this call may state management's intentions, hopes, beliefs, expectations or projections for the future. These are forward-looking statements that involve risks and uncertainties. Forward-looking statements on this call are made pursuant to the Safe Harbor provisions of the federal securities laws.

These forward-looking statements are based on Corbus' current expectations and actual results could differ materially. As a result, you should not place undue reliance on any forward-looking statements. Some of the factors that could cause actual results to differ materially from those contemplated by such forward-looking statements are discussed in the periodic reports Corbus files with the Securities and Exchange Commission.

These documents are available in the Investors section of the Company's website, and on the Securities and Exchange Commission's website. We encourage you to review these documents carefully. Joining me on the call today are Dr. Yuval Cohen, our Chief Executive Officer; Dr. Barbara White, our Chief Medical Officer and Head of Research; Sean Moran, our Chief Financial Officer, and Craig Millian, our Chief Commercial Officer.

With that, it is my pleasure to turn the call over to Yuval.

Yuval Cohen

Thank you, Ted. Good morning, everyone. It is my pleasure to welcome everyone to Corbus Pharmaceuticals second quarter of 2020 earnings conference call. Our team has had a very busy second quarter. We are on track for what we believe could be a transformative year with multiple anticipated catalysts in the coming months.

First, we look forward to top line data from our recently concluded Phase III systemic sclerosis study this summer. Next, these results will be followed by our recently concluded cystic fibrosis Phase IIb study results in the third quarter. With these critical data readouts now closer than ever, we are focusing more and more on preparing the groundwork for NDA submission and then commercialization following potential FDA approval.

At this time, our finances are stronger than ever, having just announced that we've raised additional capital of up to $121 million from a combination of our ATM strategy and a debt financing deal from K2 HealthVentures. This significant capital investment, ahead of data, gives us the ability to have strategic flexibility following data without the pressure of a financing overhang.

We are also very pleased to have Dr. George Golumbeski join us as a new Board member on our Board of Directors. George's experience growing companies and advancing innovation will be a significant asset to Corbus as we transition from an R&D-only organization to a commercial stage company with a deep pipeline of novel drug candidates