Corbus pharmaceuticals holdings inc 2025年季度报告

For the quarterly period endedMarch 31,2025 orTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from________ to_________. Commission File Number:001-37348 Corbus Pharmaceuticals Holdings, Inc. (Exact name of registrant as specified in its charter)Delaware(State or other jurisdiction ofincorporation or organization)500 River Ridge Drive (Address of principal executive offices)(617)963-0100 (Registrant’s telephone number, including area code) (Former Name, Former Address and Former Fiscal Year if Changed Since Last Report):N/ASecurities registered pursuant to Section 12(b) of the Act:Title of Each ClassTrading SymbolCommon Stock, par value $0.0001 per shareCRBP smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer,""smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filerNon-accelerated filer☒Smaller reporting companyEmerging growth company for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No Quarterly Report on Form 10-Q for the Quarter Ended March 31, 2025TABLE OF CONTENTS $(16,978)$ of TGFβ expressed on cancer cells. The pipeline also includes CRB-913, a highly peripherally restricted cannabinoid type-1("CB1") receptor inverse agonist for the treatment of obesity. Since its inception, the Company has devoted substantially all of dependent on raising substantial additional capital before it becomes profitable, and it may never achieve profitability. Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with generally accepted accountingprinciples in the United States ("U.S. GAAP") for interim financial reporting. In the opinion of management of the Company,the accompanying unaudited condensed consolidated interim financial statements reflect all adjustments (which include onlynormal recurring adjustments) necessary to present fairly, in all material respects, the condensed consolidated financialposition of the Company as of March 31, 2025 and the results of its operations and changes in stockholders’ equity for thethree months ended March 31, 2025 and 2024 and its cash flows for the three months ended March 31, 2025 and 2024. Certainamounts in the prior year's financial statements have been reclassified to conform with the current year presentation. Thesereclassifications did not impact previously reported net loss or cash flows. The December 31, 2024 condensed consolidated for the year ended December 31, 2024, filed on March 11, 2025 (the "2024 Annual Report"). The results of operations for suchinterim periods are not necessarily indicative of the operating results for the full fiscal year. Basis of ConsolidationThe condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Allsignificant intercompany transactions and accounts have been eliminated in consolidation.The significant accounting policies used in preparation of these condensed consolidated financial statements in this Form 10-Qare consistent with those discussed in Note 3, "Significant Accounting Policies," in our 2024 Annual Report.Recently Adopted Accounting Pronouncements the employee retention tax credit ("ERTC"). The Company may qualify for refundable research and development tax creditsfrom foreign authorities in the form of cash that are earned on certain research and development expenses incurred primarilyoutside of the United States ("U.S.") by its foreign subsidiaries in the United Kingdom ("U.K.") and Australia. Under the which is a refundable tax credit against certain employment taxes. The Company records these tax credits as other income, netwhen the Company has reasonable assurance any conditions attached to the assistance have been met and the assistance will be received.The Company recognized $1.1million and $2.5million in government tax credits to other income, net for thethreemonths ended March 31, 2025 and 2024, respectively.All amounts have been received, except for $1.1million that is includedin prepaid expenses and other current assets within the condensed consolidated balance sheet as ofMarch 31, 2025.No futureconditions impact the recognition of these tax credits. specifically, on the progress of the Company’s clinical development programs. Funding may not be available when needed, atall, or on terms acceptable to the Company. Lack of necessary funds may require the Company to, among other things, delay, scale back or eliminate some or all of the Company’s planned clinical or pre-clinical trials.3.CASH, CASH EQUIVALENTS, AND RESTRICTED CASHThe Company considers only those investments which are