Full Press Release Details
Pharmaceuticals Announces Proposed Public Offering of Common Stock
MA, January 24, 2019 - Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) ("Corbus" or the "Company"),
a clinical stage drug development company with the industry's leading pipeline focused on treating inflammatory and fibrotic
diseases through the endocannabinoid system pathways, today announced that it plans to offer and sell shares of its common stock
in an underwritten registered public offering. All of the shares in the offering are to be sold by Corbus. The offering is subject
to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or
terms of the offering.
intends to use the net proceeds of the proposed underwritten offering to fund its continued development of lenabasum and the compounds
recently licensed from Jenrin and for general corporate purposes, which may include funding preclinical studies and clinical trials,
manufacturing lenabasum and the Jenrin compounds for clinical trials and commercial launch, and acquisitions or investments in
businesses, products or technologies that are complementary, and to increase its working capital and fund capital expenditures.
and RBC Capital Markets are acting as joint book-running managers for the offering. Corbus intends to grant the underwriters a
30-day option to purchase up to an additional 15% of the shares of common stock sold in the public offering.
registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective
on January 17, 2018.
preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be
filed with the SEC. The securities described above have not been qualified under any state blue sky laws. This press release shall
not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such state or other jurisdiction. The offering can be made only by means of
a prospectus, copies of which may be obtained at the SEC's website at www.sec.gov, or by request at Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, by telephone at (877)
821-7388, or by email at Prospectus_Department@Jefferies.com; or from RBC Capital Markets, LLC, Attention: Prospectus Department,
200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (866) 375-6829, or by email at equityprospectus@rbccm.com.
Pharmaceuticals Holdings, Inc. is a Phase 3 clinical-stage pharmaceutical company focused on the development and commercialization
of novel therapeutics to treat inflammatory and fibrotic diseases by leveraging its pipeline of endocannabinoid system-targeting
synthetic drug candidates. The Company's lead product candidate, lenabasum, is a novel, synthetic, oral, selective cannabinoid
receptor type 2 (CB2) agonist designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated
in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus.
licensed the exclusive worldwide rights to develop, manufacture and market drug candidates from more than 600 novel compounds
targeting the endocannabinoid system from Jenrin Discovery LLC. The pipeline includes CRB-4001, a second generation, peripherally-restricted,
selective cannabinoid receptor type 1 (CB1) inverse agonist designed to eliminate blood-brain barrier penetration and subsequent
brain CB1 receptor occupancy that mediates the neuropsychiatric adverse events associated with first-generation CB1 inverse agonists.
Potential indications for CRB-4001 include nonalcoholic steatohepatitis, primary biliary cholangitis, idiopathic pulmonary fibrosis,
radiation-induced pulmonary fibrosis, myocardial fibrosis after myocardial infarction and acute interstitial nephritis, among
others. Corbus plans to enter a Phase 1 study of CRB-4001 in 2019, intended to be followed by a National Institutes of Health
(NIH)-funded proof-of-concept Phase 2 study.
in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, statements about Corbus'
expectations regarding the completion, timing and size of its public offering and the anticipated use of proceeds therefrom. Words
such as "believe," "anticipate," "plan," "expect," "intend," "may,"
"goal," "potential" and similar expressions are intended to identify forward-looking statements, though
not all forward-looking statements necessarily contain these identifying words. Among the factors that could cause actual results
to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions related to the offering, as well as risks and uncertainties associated
with Corbus' business and finances in general, including the risks and uncertainties in the section captioned "Risk
Factors" in the preliminary prospectus supplement related to the public offering that will be filed with the SEC and the
Company's most recently filed Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q. There can
be no assurances that we will be able to complete the proposed offering on the anticipated terms, or at all. You are cautioned
not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary statement, and Corbus undertakes no obligation to revise or update
any forward-looking statements to reflect events or circumstances after the date of this press release.
Jenkins, Senior Director, Investor Relations and Communications
Pharmaceuticals, Inc.
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Pharmaceuticals, Inc.