Small Biotech with Strong Chart Attracts Large Call Buy
Corbus (CRBP) unusual and notable buy of 500 November $70 calls to open at $11 with shares consolidating nicely below highs, watching for a move over $61. CRBP with a $675M market cap trades 4.7X Cash and no expectations for revenues near-term. Analysts have an average target of $82.5 and short interest is elevated at 11% of the float, rising from 0% in March. CRBP is a precision oncology company with two experimental drugs targeting solid tumors: 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. CRFB-701 interim data expected Q1 2025 while CRB-913 potential in Obesity.