JMP Analyst Tries To Clear Up Confusion On Corbus Pharma's Trial Data

Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP) announced Monday top line results from a second stage trial of its Resunab (JBT-101) therapy for the treatment of systemic sclerosis treatment.

Liisa Bayko of JMP Securities commented in a report that there appears to be some confusion regarding the trial's primary endpoint involving the Combined Response Index in diffuse cutaneous Systemic Sclerosis (CRISS) score.

Bayko said the trial marks the first time the CRISS score was used in a clinical setting and includes two physician assessments: skin thickness (modified Rodnan skin score) and global; two patient assessments: HAQ-DI quality of life questionnaires and global health; and forced vital capacity (FVC), a measure of lung function."

The analyst added, "The CRISS score is weighted more heavily towards change in mRSS and HAQ and is expressed as a number between 0-1 or 0-100%, reflecting the likelihood that there has been an improvement. Importantly, the weighted algorithm penalizes if any components get worse so one domain cannot drive a response if the patient is actually getting worse. On the endpoint, Resunab led to a median 33% improvement at week 16 vs. 0% for placebo."

The analyst also stated that there is sufficient evidence to suggest that Corbus' therapy may provide a clinically meaningful benefit to scleroderma with a favorable safety/tolerability profile which marks a major leap forward in fighting the disease.

Shares remain Market Outperform with a price target boosted to $20 from a previous $9.