$CRBP
Corbus Pharmaceuticals Holdings Inc

2023 Q2 Form 10-Q Financial Statement

#000095017023019825 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.940M $3.909M $5.231M
YoY Change -18.6% -25.28% -2.04%
% of Gross Profit
Research & Development $4.249M $13.39M $3.286M
YoY Change 69.97% 307.41% -69.35%
% of Gross Profit
Depreciation & Amortization $158.3K $181.9K $195.7K
YoY Change -17.56% -7.08% -28.09%
% of Gross Profit
Operating Expenses $8.189M $17.30M $8.517M
YoY Change 11.57% 103.08% -46.97%
Operating Profit -$8.189M -$17.30M -$8.517M
YoY Change -33.64% 103.08% -44.74%
Interest Expense -$777.5K -$677.3K -$726.7K
YoY Change 11.04% -6.8% 13.55%
% of Operating Profit
Other Income/Expense, Net $594.9K -$447.8K -$920.1K
YoY Change -385.05% -51.33% 41.34%
Pretax Income -$8.784M -$17.74M -$9.437M
YoY Change -33.7% 88.03% -41.27%
Income Tax
% Of Pretax Income
Net Earnings -$8.784M -$17.74M -$9.437M
YoY Change -33.7% 88.03% -41.26%
Net Earnings / Revenue
Basic Earnings Per Share -$2.05 -$4.24 -$0.08
Diluted Earnings Per Share $2.05 -$4.24 -$75.35K
COMMON SHARES
Basic Shares Outstanding 4.215M 4.171M 125.2M
Diluted Shares Outstanding 4.278M 4.182M 4.170M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $36.57M $44.23M $86.12M
YoY Change -50.12% -48.65% -30.55%
Cash & Equivalents $8.349M $7.324M $57.03M
Short-Term Investments $28.22M $36.90M $29.09M
Other Short-Term Assets $1.708M $1.638M $2.354M
YoY Change -11.71% -30.43% -42.58%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $38.27M $45.86M $88.48M
YoY Change -49.13% -48.16% -32.1%
LONG-TERM ASSETS
Property, Plant & Equipment $1.274M $1.432M $2.210M
YoY Change -79.61% -35.22% -75.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $211.9K $182.4K $75.28K
YoY Change -63.56% 142.36% -92.47%
Total Long-Term Assets $5.449M $5.780M $7.200M
YoY Change -20.2% -19.71% -26.54%
TOTAL ASSETS
Total Short-Term Assets $38.27M $45.86M $88.48M
Total Long-Term Assets $5.449M $5.780M $7.200M
Total Assets $43.72M $51.65M $95.68M
YoY Change -46.72% -46.02% -31.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.506M $1.323M $2.697M
YoY Change -24.21% -50.94% -25.09%
Accrued Expenses $6.419M $6.468M $5.496M
YoY Change 8.35% 17.68% -70.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.016M $5.009M $5.178M
YoY Change -7.51% -3.27% 1194.53%
Total Short-Term Liabilities $16.39M $14.36M $15.12M
YoY Change 4.84% -5.02% -35.94%
LONG-TERM LIABILITIES
Long-Term Debt $11.32M $13.97M $13.73M
YoY Change -2.52% 1.78% -24.57%
Other Long-Term Liabilities $22.21K $2.522M $22.21K
YoY Change -99.59% 11258.73% -99.67%
Total Long-Term Liabilities $11.34M $16.49M $13.75M
YoY Change -33.16% 19.96% -45.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.39M $14.36M $15.12M
Total Long-Term Liabilities $11.34M $16.49M $13.75M
Total Liabilities $34.20M $35.19M $34.52M
YoY Change 4.93% 1.93% -28.97%
SHAREHOLDERS EQUITY
Retained Earnings -$418.6M -$409.8M -$359.2M
YoY Change 14.1%
Common Stock $442.00 $422.00 $12.53K
YoY Change -96.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.521M $16.46M $61.16M
YoY Change
Total Liabilities & Shareholders Equity $43.72M $51.65M $95.68M
YoY Change -46.72% -46.02% -31.71%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$8.784M -$17.74M -$9.437M
YoY Change -33.7% 88.03% -41.26%
Depreciation, Depletion And Amortization $158.3K $181.9K $195.7K
YoY Change -17.56% -7.08% -28.09%
Cash From Operating Activities -$7.800M -$15.11M -$10.62M
YoY Change -36.22% 42.39% -51.33%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $13.45K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $8.807M $5.550M $42.98M
YoY Change -147.11% -87.09% -174.84%
Cash From Investing Activities $8.807M $5.550M $42.96M
YoY Change -147.11% -87.08% -174.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.69K -113.0K -327.1K
YoY Change -105.36% -65.45% -100.54%
NET CHANGE
Cash From Operating Activities -7.800M -15.11M -10.62M
Cash From Investing Activities 8.807M 5.550M 42.96M
Cash From Financing Activities 17.69K -113.0K -327.1K
Net Change In Cash 1.025M -9.678M 32.02M
YoY Change -103.28% -130.23% -270.13%
FREE CASH FLOW
Cash From Operating Activities -$7.800M -$15.11M -$10.62M
Capital Expenditures $0.00 $0.00 $13.45K
Free Cash Flow -$7.800M -$15.11M -$10.63M
YoY Change -36.22% 42.21% -51.27%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001595097
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
001-37348
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Corbus Pharmaceuticals Holdings, Inc.
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-4348039
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
500 River Ridge Drive
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Norwood
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02062
CY2023Q1 dei City Area Code
CityAreaCode
(617)
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
963-0100
CY2023Q1 dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
CY2023Q1 dei Trading Symbol
TradingSymbol
CRBP
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
4215133
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7324437
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17002715
CY2023Q1 us-gaap Short Term Investments
ShortTermInvestments
36902563
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
42194296
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
192475
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
192475
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1445524
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
791616
CY2023Q1 us-gaap Assets Current
AssetsCurrent
45864999
CY2022Q4 us-gaap Assets Current
AssetsCurrent
60181102
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
477425
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
477425
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1431945
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1613815
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3688468
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3884252
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
182436
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
155346
CY2023Q1 us-gaap Assets
Assets
51645273
CY2022Q4 us-gaap Assets
Assets
66311940
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
203258
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
353323
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1322990
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2173963
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6468302
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5999252
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
36868
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
36868
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1318671
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1280863
CY2023Q1 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
5008858
CY2022Q4 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
2795669
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
14358947
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
12639938
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
13972360
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
15984426
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2522205
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
22205
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4332809
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4675354
CY2023Q1 us-gaap Liabilities
Liabilities
35186321
CY2022Q4 us-gaap Liabilities
Liabilities
33321923
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4215133
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4215133
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4171297
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4171297
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
422
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
417
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
426352478
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
425196359
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-409825479
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-392080667
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-68469
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-126092
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
16458952
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
32990017
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
51645273
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
66311940
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13388343
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3286236
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3908682
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5230923
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
17297025
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
8517159
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-17297025
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8517159
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
229507
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-193351
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-678022
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-458909
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
728
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-267823
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-447787
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-920083
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-17744812
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-9437242
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.24
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.24
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.26
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.26
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4181556
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4181556
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4170043
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4170043
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-17744812
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-9437242
CY2023Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
57623
CY2022Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-107248
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
57623
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-107248
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-17687189
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-9544490
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
32990017
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1026379
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
129745
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
57623
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-17744812
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
16458952
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
69108027
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1591746
CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-107248
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-9437242
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
61155284
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-17744812
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-9437242
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1026379
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1591746
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
181870
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
195719
CY2023Q1 crbp Net Amortization On Premium Of Investments
NetAmortizationOnPremiumOfInvestments
201908
CY2022Q1 crbp Net Amortization On Premium Of Investments
NetAmortizationOnPremiumOfInvestments
-454978
CY2023Q1 crbp Gain Loss On Foreign Exchange Rate
GainLossOnForeignExchangeRate
2917
CY2022Q1 crbp Gain Loss On Foreign Exchange Rate
GainLossOnForeignExchangeRate
-349226
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
201123
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
176901
CY2023Q1 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-1561
CY2022Q1 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-7752
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
561219
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-203150
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
27090
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
28890
CY2023Q1 crbp Decrease In Operating Lease Right Of Use Asset
DecreaseInOperatingLeaseRightOfUseAsset
-195784
CY2022Q1 crbp Decrease In Operating Lease Right Of Use Asset
DecreaseInOperatingLeaseRightOfUseAsset
-172734
CY2023Q1 crbp Increase In Other Long Term Liabilities
IncreaseInOtherLongTermLiabilities
-2500000
CY2022Q1 crbp Increase In Other Long Term Liabilities
IncreaseInOtherLongTermLiabilities
0
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-848056
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
565308
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
469050
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4596906
CY2023Q1 crbp Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-304737
CY2022Q1 crbp Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-269826
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15114972
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10615350
CY2023Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
13308006
CY2022Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
6471309
CY2023Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
18857710
CY2022Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
49446935
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13449
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5549704
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
42962177
CY2023Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
150066
CY2022Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
327125
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37056
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-113010
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-327125
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9678278
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
32019702
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17672615
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25676532
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7994337
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
57696234
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
641458
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
430998
CY2023Q1 crbp Proceeds From Issuance Of Common Stock Not Yet Received
ProceedsFromIssuanceOfCommonStockNotYetReceived
92689
CY2022Q1 crbp Proceeds From Issuance Of Common Stock Not Yet Received
ProceedsFromIssuanceOfCommonStockNotYetReceived
0
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1.</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">NATURE OF OPERATIONS</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:3.333%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Business</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:3.333%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Corbus Pharmaceuticals Holdings, Inc. (the “Company” or “Corbus”) is a precision oncology company committed to helping people defeat serious illness by bringing innovative scientific approaches to well understood biological pathways. Corbus' internally developing pipeline includes CRB-701, a next generation antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload, and CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFβ expressed on cancer cells. The Company has also developed CRB-913, an endocannabinoid small molecule drug, for the treatment of obesity and is seeking partners to fund further development. Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. The Company’s business is subject to significant risks and uncertainties and the Company will be dependent on raising substantial additional capital before it becomes profitable, and it may never achieve profitability.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:3.333%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and accounts have been eliminated in consolidation. In the opinion of management of the Company, the accompanying unaudited condensed consolidated interim financial statements reflect all adjustments (which include only normal recurring adjustments) necessary to present fairly, in all material respects, the condensed consolidated financial position of the Company as of March 31, 2023 and the results of its operations and changes in stockholders’ equity for the three months ended March 31, 2023 and 2022 and its cash flows for the three months ended March 31, 2023 and 2022. The December 31, 2022 condensed consolidated balance sheet was derived from audited financial statements. The Company prepared the condensed consolidated financial statements following the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, filed on March 7, 2023 (the “2022 Annual Report”). The results of operations for such interim periods are not necessarily indicative of the operating results for the full fiscal year.</span></p>
CY2023Q1 crbp Accumulated Deficit
AccumulatedDeficit
409825000
CY2023Q1 crbp Cash And Cash Equivalents And Marketable Debt Securities
CashAndCashEquivalentsAndMarketableDebtSecurities
44227000
CY2023Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-30
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:3.333%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:3.333%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The process of preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and changes in estimates may occur. The most significant estimates are related to stock-based compensation expense, the accrual of research, product development and clinical obligations, and the valuation of warrants (see Note 9 and Note 14) and the derivative liability associated with the K2 Loan and Security Agreement (see Note 15)</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">.</span></p>
CY2023Q1 us-gaap Cash
Cash
2897157
CY2022Q4 us-gaap Cash
Cash
3805156
CY2023Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
4427280
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
13197559
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7324437
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17002715
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
192475
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
192475
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
477425
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
477425
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
669900
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
669900
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7994337
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17672615
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:3.333%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:3.333%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Company has no significant off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other hedging arrangements. The Company may, from time to time, have cash in its U.S. banks in excess of Federal Deposit Insurance Corporation insurance limits and in its foreign banks in excess of their local insurance limits. However, the Company believes the risk of loss is minimal as these banks are large financial institutions.</span></p>
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-17744812
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-9437242
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4181556
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4170043
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.24
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.26
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023Q1 crbp Available For Sale Other Investments And Debt Securities Amortized Cost Basis
AvailableForSaleOtherInvestmentsAndDebtSecuritiesAmortizedCostBasis
36971032
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
68469
CY2023Q1 crbp Available For Sale Securities Other Investments And Debt Securities
AvailableForSaleSecuritiesOtherInvestmentsAndDebtSecurities
36902563
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
36971032
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
36902563
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
0
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
36971032
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
36902563
CY2022Q4 crbp Available For Sale Other Investments And Debt Securities Amortized Cost Basis
AvailableForSaleOtherInvestmentsAndDebtSecuritiesAmortizedCostBasis
42320040
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
125744
CY2022Q4 crbp Available For Sale Securities Other Investments And Debt Securities
AvailableForSaleSecuritiesOtherInvestmentsAndDebtSecurities
42194296
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
42320040
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
42194296
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
0
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
42320040
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
42194296
CY2021Q2 crbp Licence Issuance Fee
LicenceIssuanceFee
750000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4707038
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4707038
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3275093
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3093223
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1431945
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1613815
CY2023Q1 us-gaap Depreciation
Depreciation
181870
CY2022Q1 us-gaap Depreciation
Depreciation
195719
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1280934
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1747447
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1794889
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1688145
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6511415
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
859935
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
5651480
CY2023Q1 crbp Sublease Agreement Description
SubleaseAgreementDescription
Effective August 26, 2021, the Company entered into a sublease agreement with a third party to sublease 12,112 square feet of the 30,023 square feet currently being leased under one of its two existing lease agreements. The sublease commenced on October 1, 2021 and ends October 31, 2026. The Company notes sublease income of $55,133 and $55,133 was recognized and offset against rent expense for the three months ended March 31, 2023 and 2022, respectively.
CY2021Q3 crbp Sublease Area
SubleaseArea
12112
CY2021Q3 crbp Sublease Area Total
SubleaseAreaTotal
30023
CY2023Q1 crbp Subleases Income
SubleasesIncome
55133
CY2022Q1 crbp Subleases Income
SubleasesIncome
55133
CY2023Q1 crbp Future Minimum Sublease Rentals Sale Leaseback Transactions Due In Year Two
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsDueInYearTwo
278576
CY2023Q1 crbp Future Minimum Sublease Rentals Sale Leaseback Transactions Due In Year Three
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsDueInYearThree
290688
CY2023Q1 crbp Future Minimum Sublease Rentals Sale Leaseback Transactions Due In Year Four
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsDueInYearFour
252333
CY2023Q1 crbp Future Minimum Sublease Rentals Sale Leaseback Transactions1
FutureMinimumSubleaseRentalsSaleLeasebackTransactions1
981072
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
937000
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
684000
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
20000000
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
20000000
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2954390
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2954390
CY2023Q1 crbp Accretion Of Debt Discount
AccretionOfDebtDiscount
1935608
CY2022Q4 crbp Accretion Of Debt Discount
AccretionOfDebtDiscount
1734485
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
18981218
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
18780095
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
5008858
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2795669
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
13972360
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
15984426
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2963785
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
18626215
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
21590000
CY2023Q1 crbp Accrued Clinical Operations And Trials Costs Current
AccruedClinicalOperationsAndTrialsCostsCurrent
4074713
CY2022Q4 crbp Accrued Clinical Operations And Trials Costs Current
AccruedClinicalOperationsAndTrialsCostsCurrent
2137317
CY2023Q1 crbp Accrued Product Development Costs Current
AccruedProductDevelopmentCostsCurrent
409691
CY2022Q4 crbp Accrued Product Development Costs Current
AccruedProductDevelopmentCostsCurrent
247500
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
826703
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2224951
CY2023Q1 crbp Accrued Administrative Costs
AccruedAdministrativeCosts
143175
CY2022Q4 crbp Accrued Administrative Costs
AccruedAdministrativeCosts
473376
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
1014020
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
916108
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6468302
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5999252
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
113.92
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y6M21D
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4215133
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4215133
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4171297
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4171297
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1026379
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1591746
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1026379
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1591746
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
617996
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
88.99
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
246967
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.22
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
43836
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.85
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
15768
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
55.23
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
805359
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
68.23
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
21943617
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
406396
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
5049321
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
715248
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
75.45
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y29D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
17485170
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.44
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.10
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
23990
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.26
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
23990
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.26
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
81163
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y10M13D
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
36868
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
36868
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
36868
CY2023Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
0
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
36868

Files In Submission

Name View Source Status
0000950170-23-019825-index-headers.html Edgar Link pending
0000950170-23-019825-index.html Edgar Link pending
0000950170-23-019825.txt Edgar Link pending
0000950170-23-019825-xbrl.zip Edgar Link pending
crbp-20230331.htm Edgar Link pending
crbp-20230331.xsd Edgar Link pending
crbp-ex31_1.htm Edgar Link pending
crbp-ex31_2.htm Edgar Link pending
crbp-ex32_1.htm Edgar Link pending
crbp-ex32_2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
crbp-20230331_cal.xml Edgar Link unprocessable
crbp-20230331_def.xml Edgar Link unprocessable
crbp-20230331_pre.xml Edgar Link unprocessable
crbp-20230331_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
crbp-20230331_htm.xml Edgar Link completed
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending