Corbus Pharmaceuticals Announces Proposed Public Offering

NORWOOD, Mass., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Corbus Pharmaceuticals Holdings, Inc. (Nasdaq: CRBP) (“Corbus” or the “Company”), a precision oncology company with a diversified portfolio, today announced that it plans to offer and sell shares of its common stock or, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock in an underwritten registered public offering. All of the securities 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.

Corbus intends to use the net proceeds of the proposed underwritten offering to fund the clinical development of its pipeline and for working capital and other general corporate purposes.

Jefferies is acting as sole book-running manager 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.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and became effective on June 13, 2023. A 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 will be made only by means of a prospectus, copies of which may be obtained, when available, at the SEC’s website at www.sec.gov, or by request at Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at [phone], or by email at [e-mail].