Corbus Pharmaceuticals Holdings, Inc.
CRBPHealthcare|Biotechnology|US
$3.07
+0.21 (+7.34%)
DCF Value
$1.97
Tangible Book / Share
$5.27
Cash / Share
$6.08
Financials
Financial Snapshot
Market Cap
$59.4M
Enterprise Value
$40.3M
Revenue (TTM)
$0.00
Net Income (TTM)
-$101.9M
Cash & Investments
$117.9M
Net Cash
$113.7M
Free Cash Flow (TTM)
-$86.7M
Operating CF (TTM)
-$86.7M
Debt/Equity
0.04
Cash Runway & Burn Rate
Cash on Hand
$117.9M
Quarterly Burn
$21.7M
Monthly Burn
$7.2M
Est. Runway
~5.4 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $15.0M | $62.5M | $41.7M | $31.7M | $85.4M | $97.6M | $59.2M | $20.9M | $149.1M | $163.9M | $117.9M | |
| Operating Cash Flow | -$13.6M | -$27.8M | -$30.1M | -$45.7M | -$99.7M | -$48.2M | -$37.5M | -$36.10B | -$41.8M | -$64.5M | -$86.7M | |
| Free Cash Flow | -$13.9M | -$28.5M | -$32.4M | -$48.5M | -$100.2M | -$48.2M | -$37.6M | -$36.10B | -$41.8M | -$64.5M | -$86.7M | |
| Capital Expenditure | -$353.0K | -$707.4K | -$2.3M | -$2.7M | -$484.5K | -$54.2K | -$13.4K | $0.00 | $0.00 | -$7.0K | -$19.0K | |
| Financing Cash Flow | $16.7M | $76.0M | $11.4M | $38.5M | $154.9M | $60.8M | -$533.6K | -$2.82B | $166.6M | $77.4M | $86.5M |
R&D Spending
R&D (TTM)
$90.3M
R&D Intensity
—
R&D Growth vs Prior
+28.8%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9M | $2.4M | $4.8M | $36.1M | $3.9M | $881.7K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $15.4M | $26.0M | $48.6M | $89.6M | $98.3M | $36.4M | $16.1M | $31.2M | $32.2M | $70.1M | $90.3M | |
| R&D % of Revenue | 807.6% | 1067.1% | 1008.1% | 247.9% | 2495.8% | 4133.5% | — | — | — | — | — | |
| SG&A | $6.5M | $9.0M | $13.0M | $23.6M | $28.5M | $20.4M | $18.7M | $13.9M | $16.5M | $15.2M | $16.6M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9M | $2.4M | $4.8M | $36.1M | $3.9M | $881.7K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $15.4M | $26.0M | $48.6M | $89.6M | $0.00 | $1.6M | $1.5M | $0.00 | $600.0K | $0.00 | $49.0K | |
| Gross Profit | -$13.5M | -$23.6M | -$43.8M | -$53.5M | $3.9M | -$757.5K | -$1.5M | $0.00 | -$600.0K | $0.00 | -$49.0K | |
| R&D | $15.4M | $26.0M | $48.6M | $89.6M | $98.3M | $36.4M | $16.1M | $31.2M | $32.2M | $70.1M | $90.3M | |
| SG&A | $6.5M | $9.0M | $13.0M | $23.6M | $28.5M | $20.4M | $18.7M | $13.9M | $16.5M | $15.2M | $16.6M | |
| Operating Income | -$20.0M | -$32.6M | -$56.7M | -$77.1M | -$122.8M | -$56.0M | -$34.8M | -$45.1M | -$48.7M | -$85.3M | -$106.9M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $1.0M | $1.8M | $2.1M | $2.9M | $1.9M | $0.00 | $0.00 | |
| Pretax Income | -$20.0M | -$32.4M | -$55.7M | -$71.5M | -$111.3M | -$45.6M | -$42.3M | -$44.6M | -$40.2M | -$78.5M | -$101.9M | |
| Net Income | -$20.0M | -$32.4M | -$55.7M | -$71.5M | -$111.3M | -$45.6M | -$55.8M | -$44.6M | -$40.2M | -$78.5M | -$101.9M | |
| EPS (Diluted) | -14.58 | -19.38 | -29.30 | -33.55 | -42.72 | -11.13 | -10.15 | -10.31 | -3.68 | -5.90 | -6.48 | |
| EBITDA | -$19.9M | -$32.3M | -$56.3M | -$75.9M | -$121.1M | -$42.2M | -$38.7M | -$40.1M | -$37.7M | -$78.3M | -$101.7M | |
| Shares Out. (M) | 1.37 | 1.67 | 1.90 | 2.13 | 2.60 | 4.10 | 4.17 | 4.33 | 10.91 | 13.32 | 19.41 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $15.0M | $62.5M | $41.7M | $31.7M | $85.4M | $25.0M | $17.0M | $13.7M | $17.2M | $28.5M | $23.4M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $72.6M | $42.2M | $7.2M | $131.9M | $134.8M | $94.6M | |
| Total Current Assets | $17.4M | $65.5M | $44.2M | $38.2M | $92.1M | $100.2M | $60.2M | $23.5M | $153.0M | $167.0M | $122.8M | |
| Total Assets | $17.9M | $67.0M | $47.0M | $49.1M | $102.3M | $107.7M | $66.3M | $28.3M | $155.9M | $168.2M | $127.0M | |
| Total Current Liabilities | $8.9M | $8.2M | $18.1M | $34.9M | $31.9M | $17.0M | $12.6M | $31.9M | $11.8M | $20.7M | $21.5M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $18.0M | $15.6M | $16.0M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $9.0M | $9.2M | $19.5M | $43.0M | $57.0M | $38.6M | $33.3M | $35.2M | $13.5M | $20.7M | $24.7M | |
| Stockholders' Equity | $8.9M | $57.8M | $27.5M | $6.2M | $45.3M | $69.1M | $33.0M | -$6.9M | $142.4M | $147.5M | $102.2M | |
| Retained Earnings | -$33.3M | -$65.7M | -$121.4M | -$192.8M | -$304.1M | -$349.7M | -$392.1M | -$436.7M | -$476.9M | -$555.4M | -$613.4M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$13.6M | -$27.8M | -$30.1M | -$45.7M | -$99.7M | -$48.2M | -$37.5M | -$36.10B | -$41.8M | -$64.5M | -$86.7M | |
| Capital Expenditure | -$353.0K | -$707.4K | -$2.3M | -$2.7M | -$484.5K | -$54.2K | -$13.4K | $0.00 | $0.00 | -$7.0K | -$19.0K | |
| Free Cash Flow | -$13.9M | -$28.5M | -$32.4M | -$48.5M | -$100.2M | -$48.2M | -$37.6M | -$36.10B | -$41.8M | -$64.5M | -$86.7M | |
| Investing Cash Flow | -$353.0K | -$707.4K | -$2.3M | -$2.7M | -$484.5K | -$73.4M | $30.1M | $35.64B | -$121.3M | -$1.6M | $3.2M | |
| Financing Cash Flow | $16.7M | $76.0M | $11.4M | $38.5M | $154.9M | $60.8M | -$533.6K | -$2.82B | $166.6M | $77.4M | $86.5M | |
| Issuance of Stock | $16.7M | $78.9M | $12.1M | $40.7M | $136.2M | $62.6M | $0.00 | $244.3M | $182.1M | $77.4M | $86.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $106.6K | $57.3K | $57.2K | $358.0K | $18.7M | $57.8K | -$533.6K | -$2.87B | -$15.5M | $0.00 | $0.00 | |
| Stock Based Comp. | $3.2M | $5.7M | $7.6M | $12.0M | $12.5M | $9.5M | $5.7M | $3.47B | $6.1M | $6.3M | $6.7M | |
| Net Change in Cash | $2.8M | $47.5M | -$20.9M | -$10.0M | $54.0M | -$60.8M | -$8.0M | -$3.28B | $3.5M | $11.3M | $3.0M |
Dilution Tracker
Shares outstanding grew 411.3% over 5 years — significant dilution
Shares Outstanding
19M
5-Year Share Growth
+411.3%
Stock Issuance (TTM)
$86.4M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 1.37 | 1.67 | 1.90 | 2.13 | 2.60 | 4.10 | 4.17 | 4.33 | 10.91 | 13.32 | 19.41 | |
| Change vs Prior % | — | 22.0% | 13.6% | 12.1% | 22.3% | 57.4% | 1.7% | 3.8% | 152.2% | 22.0% | 45.7% | |
| Stock Issuance | $16.7M | $78.9M | $12.1M | $40.7M | $136.2M | $62.6M | $0.00 | $244.3M | $182.1M | $77.4M | $86.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $3.2M | $5.7M | $7.6M | $12.0M | $12.5M | $9.5M | $5.7M | $3.47B | $6.1M | $6.3M | $6.7M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -707.6% | -967.1% | -908.1% | -147.9% | 100.0% | -85.9% | — | — | — | — | — | |
| Operating Margin % | -1045.6% | -1334.4% | -1176.8% | -213.3% | -3119.2% | -6350.1% | — | — | — | — | — | |
| Net Margin % | -1046.3% | -1328.6% | -1154.5% | -197.7% | -2826.1% | -5166.4% | — | — | — | — | — | |
| EBITDA Margin % | -1041.0% | -1324.0% | -1166.5% | -209.9% | -3076.2% | -4782.9% | — | — | — | — | — | |
| FCF Margin % | -728.5% | -1168.1% | -671.2% | -134.1% | -2544.2% | -5471.0% | — | — | — | — | — | |
| ROE % | -224.2% | -56.1% | -202.3% | -1160.4% | -245.8% | -65.9% | -169.2% | 646.0% | -28.2% | -53.2% | -87.1% | |
| ROA % | -111.8% | -48.4% | -118.5% | -145.4% | -108.8% | -42.3% | -84.2% | -157.8% | -25.8% | -46.7% | -80.2% | |
| ROIC % | -215.8% | -55.1% | -193.7% | -494.2% | -170.3% | -58.5% | -60.0% | -321.4% | -33.4% | -57.2% | -100.4% | |
| R&D / Revenue % | 807.6% | 1067.1% | 1008.1% | 247.9% | 2495.8% | 4133.5% | — | — | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 194.8% | 27.7% | 97.6% | 649.5% | -89.1% | -77.6% | -100.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | -158.1% | -74.5% | -85.6% | -22.1% | 107.4% | -119.2% | -96.4% | 100.0% | 0.0% | 100.0% | |
| Operating Income | -125.7% | -62.9% | -74.3% | -35.9% | -59.3% | 54.4% | 37.8% | -29.4% | -8.1% | -75.1% | |
| Net Income | -126.0% | -62.1% | -71.7% | -28.3% | -55.7% | 59.1% | -22.6% | 20.1% | 9.9% | -95.3% | |
| EPS (Diluted) | -72.1% | -32.9% | -51.2% | -14.5% | -27.3% | 73.9% | 8.8% | -1.6% | 64.3% | -60.3% | |
| Operating Cash Flow | -192.0% | -104.8% | -8.2% | -52.1% | -118.0% | 51.7% | 22.1% | -96054.0% | 99.9% | -54.3% | |
| Free Cash Flow | -192.4% | -104.7% | -13.6% | -49.7% | -106.7% | 51.8% | 22.1% | -96019.6% | 99.9% | -54.3% | |
| R&D Expense | 162.1% | 68.7% | 86.7% | 84.3% | 9.7% | -62.9% | -55.7% | 93.1% | 3.4% | 117.5% | |
| SG&A Expense | 78.8% | 38.8% | 44.5% | 82.5% | 20.5% | -28.3% | -8.5% | -25.6% | 18.6% | -7.8% | |
| Total Assets | 38.9% | 274.4% | -29.8% | 4.6% | 108.2% | 5.3% | -38.4% | -57.4% | 451.4% | 7.9% | |
| Book Value / Share | -24.3% | 431.1% | -58.1% | -80.0% | 501.3% | -3.0% | -53.1% | -120.2% | 917.7% | -15.1% | |
| Debt | 70.6% | 20.4% | 18.5% | 2295.5% | 184.1% | -0.9% | -5.6% | -16.8% | -84.5% | -49.6% | |
| Diluted Shares | 31.2% | 22.0% | 13.6% | 12.1% | 22.3% | 57.4% | 1.7% | 3.8% | 152.2% | 22.0% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High9.65 / 85.93 / 181.86
P/B0.58
10Y Low / Med / High0.42 / 2.16 / 56.66
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High9.04 / 87.72 / 174.16
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.97
Tangible Book / Share
$5.27
Net Current Assets / Share
$5.07
Graham Net-Net
$4.80
Cash / Share
$6.08
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -17.39 | -10.99 | -5.98 | -4.88 | -0.88 | -1.66 | -0.33 | -0.59 | -3.21 | -1.38 | -0.47 | |
| P/S Ratio | 181.86 | 146.00 | 69.03 | 9.65 | 24.81 | 85.93 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 38.97 | 6.17 | 12.09 | 56.66 | 2.16 | 1.10 | 0.42 | -3.78 | 0.90 | 0.73 | 0.58 | |
| EV/EBITDA | -16.73 | -9.10 | -5.18 | -4.30 | -0.32 | -1.83 | -0.57 | -0.83 | -3.04 | -1.04 | -0.40 | |
| EV/Revenue | 174.16 | 120.50 | 60.45 | 9.04 | 9.92 | 87.72 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-7.01
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $2.0M | $3.9M | $5.0M |
| Net Income | -$73.1M | -$72.4M | -$70.1M |
| EPS | $-5.60 | $-5.55 | $-5.70 |
| # Analysts (EPS) | 8 | 7 | 8 |