Corbus drops after rival Novo Nordisk reports obesity drug data

Corbus Pharmaceuticals Holdings

20/09/2024 15:03

** Shares of Corbus Pharmaceuticals Holdings  CRBP.O  drop
67% to hit near eight-month low of $17.15
    ** Danish rival Novo Nordisk  NOVOb.CO  on Friday reported
mid-stage study data for its experimental obesity drug,
monlunabant
    ** Corbus is developing CRB-913, which belongs to the same
class as Novo's monlunabant
    ** Novo reported 7.1 kg weight loss from a 10 mg dose of
monlunabant after 16 weeks' treatment, from a baseline body
weight of 110 kgs
    ** Novo's data "is disappointing for CRBP, in the lack of
anticipated benefit for increasing doses of monlunabant,"
according to Oppenheimer analyst Jeff Jones
    ** Including session moves, stock has more than tripled YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))