Corbus Pharmaceuticals Holdings, Inc. Q4 FY2020 earnings call

• Progress on strategic plan: Working to maximize lenabasum value, move internal pipeline into clinical testing in 2022, and engage with potential partners to expand pipeline. - Phase 3 DETERMINE study in dermatomyositis: Primary endpoint moved from week 52 to week 28, all patients completed week 28 visit, topline data expected in Q2 2021. - Endocannabinoid system targeting assets: In-house pipeline for metabolic disorders, fibrotic diseases, and cancer; lead compounds to start clinical studies in 2022. - Financial position: Cash on hand ~$127M as of March 15, 2021, expected to fund operations into Q1 2024.

No detailed product segment financial performance with absolute terms and revenue contribution % provided in the transcript.

• Cash on hand of ~$127M to fund operations into Q1 2024. - Topline data from Phase 3 DETERMINE study in dermatomyositis expected in Q2 2021. - Lead compounds from internal programs to start clinical studies in 2022.

• Forward-looking statements involve risks and uncertainties, and actual results could differ materially from contemplated forward-looking statements. Factors causing differences are discussed in periodic reports filed with the SEC.

Q: Could you elaborate on how comfortable you are towards selecting candidates for CB1 and CB2 programs? And on cash runway, how does the $127M cash last through 1Q 2024?

A: Barbara White discussed comfort in selecting CB1/CB2 candidates with progress in understanding pharmacokinetics and metabolic studies. Sean Moran mentioned cash burn reduced due to completion of costly studies and workforce reduction, projecting ~$10M burn average going forward.

Q: On the dermatomyositis study, how many patients went to open-label extension and discontinuation rate? Also, steps regarding Actemra approval and SSC data?

A: Barbara White said discontinuation rate was ~8%, ~166 patients completed week 28 visit, 90% eligible enrolled in open-label extension. Regarding Actemra, discussed interest in FDA's consideration of subset data in SSC, with next steps dependent on DM study data and further analysis, timeline to be determined after DM data is received