Here's Why Corbus Pharmaceuticals Holdings Inc. Jumped Today
In response to upbeat results released from a phase 2 clinical trial, shares of Corbus Pharmaceuticals (NASDAQ: CRBP), a clinical-stage biotech focused on inflammatory and fibrotic diseases, jumped by 14% as of 11 a.m. EDT on Thursday.
Corbus announced topline results from a 16-week phase 2 study evaluating its lead compound anabasum as a hopeful treatment for dermatomyositis, a rare disease that affects about 70,000 Americans each year.
The study showed that patients who used anabasum show an improvement on the Cutaneous Dermatomyositis Disease Area and Severity Index (CDASI) activity score of 9.3 points. That was a statistically significant gain when compared to the 3.7 point improvement observed in the placebo group.
Source: Fool.com