CRBP - Earnings call transcript Q4 2018 | Corbus Pharmaceuticals Holdings, Inc.

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Operator

Greetings, and welcome to the Corbus Pharmaceuticals Quarterly Update Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ted Jenkins, Senior Director, Investor Relations and Corporate Communications. you. Thank

begin. may You

Ted Jenkins

I'd Good management's the and and statements and Corbus call projections this future. this update Donna. that the our joining made of hopes, remarks XXXX you involve beliefs, us that uncertainties. conference during time, At webcast. for Pharmaceuticals may and forward-looking to morning, you, risks remind thank listeners state everyone, call for yearend like intentions, Thank These fourth or quarter expectations

are call of this actual on pursuant Laws. to forward-looking provisions statements Forward-looking differ based and Harbor Safe made current the These materially. the results could expectations, Securities Federal on statements are Corbus'

you any should result, undue place forward-looking a reliance statements. on As not

contemplated by forward-looking discussed review factors Securities reports files Investors carefully. the and Exchange are are the Corbus website to such periodic website. could the documents in encourage the in on of documents the section Commission. results These that of you Exchange these those company's We Securities to available and with actual statements Some from cause differ Commission's materially and

It's Barbara Cohen, Chief the Millian, to new Yuval Chief and today Commercial is Financial Executive Cohen. my now our turn Chief to the Joining me call Officer Sean on Officer; Officer; Officer. call Craig Medical pleasure Yuval our Chief Moran, White, over

Yuval Cohen

programs our a themes as key ECS, I through Yuval the key by clinical inflammatory a the of on of also Good the fibrotic some of questions. for and known for in year take mission endocannabinoid treatment is in the an targeting to Ted. achievements, and financial for a I review provide towards Cohen. and of the some joining becoming the made want we update then walk regulator your XXXX. significant XXXX of transformational leading provide update the name thank I inflammation the company body. fibrosis will morning, My am progress was system you, I of pharmaceutical open us today before In Thank XXXX, and you everyone our you call master Corbus our will diseases today. for opportunity to CEO and Corbus. the

molecule loss of endogenous signaling that [indiscernible] and the nausea the phytocannabinoids. and fits loss treating endocannabinoid neither plant undergoing in body's Endocannabinoid problems a appetite therapy into healthy. our are pool with for in or are the cancer, as such the medical our epilepsy, landscape. Corbis own and chemotherapy that our significant people's underpins and Our a compounds but cannabinoids THC long-term our everything become attracting a binds the I'd therapeutic. endocannabinoid uniquely development the source that all pioneer a hallmarks one the to receptors do as it speaks become is briefly of positioned it targeting cannabinoid molecules, the biology remind term and of the is important vision we system that lot in interest Corbus of is belief decade. keeping how play from They plant are you of found coming body Cannabis in in CBD. cannabinoids back, advances extracted will as Furthermore believe leading is as we to cannabinoids cannabinoid role of and Vital this that chemicals small such weight in to of Stepping vomiting this people importantly medical severe are and of like

this or to advantages not in inhibit designed endocannabinoid In structure endocannabinoid specific There or cannabinoid they artificial can the in system the Their small to body receptor strategy the molecules and cannabinoid do are designed target exist several chemical including words, other receptors. the to be binding synthetic of or compounds diseases. are for our CDX CDX to these rationally or fully of preferentially receptor receptors system small the molecule drug optimized that Our candidates activate cannabinoids. be can treatment nature. target they partially

designed compound ECS certain brain. our organs of brain the to the synthetic patent Unlike the such plant Our ones with as organs be accompany benefit from the derived specifically alternatively in that the target that. can composition or certainly avoid all liver such or market exclusivity cannabinoids, protection as benefit matter

endocannabinoid this of of Lastly malignancy. dermatomyositis plan as in receptors in and system. cystic in applicability therapeutic first early stage most and of well targeting and inverse we a late CBX inhibition for controlling in leads over study. broad designed inflammatory lupus testing rationally fibrotic target activation a the class approach is development CRB-XXXX, now of as agonist endocannabinoid or Corbis has drugs to the the agonist pipeline developed drug These the the for as candidates, have market CDX in sclerosis and autoimmune include disease, endocannabinoid fibrosis library NASH for a with of and inflammation stage through the receptors to the treatment XXX the such novel fibrosis, and first testing system. of therapeutics rare that pivotal innovative ECS. compounds. of being be in believe a diseases to inflammatory regulation Lenabasum, systemic patient preclinical target the largest We first-in genetic We that

stage system well global endocannabinoid system candidates market the and and property on treat strong global unique We To large compounds. fibrotic we a capitalize we protection range and inflammation the life and our intellectual the the drugs patent positioned designed late drug endocannabinoid inflammatory believe way are for to commercial our to targeting with largest of opportunity all targeting diseases. we portfolio rights, for patent and have compounds early protecting commercial for to with fibrosis from summarize, control the

a strong the have library preclinical for and manufacture on now have shots achieved milestones. bind that indications. robust Over of drug a foundation with pipeline several to XXX market growth. coming endocannabinoid and Corbus multiple we than of are of library We a CRB-XXXX more a rest candidates system, develop, quarters, the the our and from targeted number compounds exclusive this significant to the expanded rights past goal worldwide corporate has

to sclerosis licensing is our We dermatomyositis dermatomyositis and market executed the lenabasum commercial We an enter can for also Japanese XX,XXX systemic lenabasum significant in a Corbus excellent approximately which represents with to reach to in worldwide. to ensure patients for patients as partner Pharmaceuticals. XXXX first Kaken Kaken systemic opportunity look lenabasum we licensed Japan patients. the rights deal and sclerosis

royalties we additional model agreement to million We cannot are China. South deal and the providing focus a to calls common million Importantly, that. XX, to in to $XX our On licensing Of we Kaken next receive for Korea rights after milestones $XXX while company. as closed we a upfront particular deals and public payment commercial up $XX also to a are double-digit non-dilutive similar view an pursue eligible January near-term capital and stock. that geographies reach ourselves for of and the on offering future million

data clinical current and Our systemic key pivotal The clinical our cystic Phase through adequate the sclerosis two cash company studies. study Xb reserve the in to fibrosis. support is in in study

brands is XX with global the commercial leadership commercialization milestone first Millian leading Officer. marketing of as candidate Craig Craig organizations focus important brings Recently, years expansion drive leadership develop lead and Corbus’s joined our strategies drug and team. on companies. therapeutic an our and ever and initial U.S. Corbus continued experience pharmaceutical Another Commercial building Craig of lenabasum. will Chief

the today him to to hand We call it for and I'd are over like pleased us to brief with on have introduction. a Craig

Craig Millian

Yuval. Thanks

to saying start I’m join time me by such at the for Let Corbus company. exciting thrilled an

Prior team where team, of share cultivated underpinning whom Corbus��s Synthetic I've As excellence. it's that, true and oriented and Neurology short I'm excited witnessed board Pfizer Head Yuval the and to commercial the joined of at I but also U.S. science members all from a recently work. company. Senior already the Serono for of vision a Corbus me all on first truly roles opportunity. an Vice Vertex, to inspiring other I What of bit and environment served time Immunology. been and Corbus that's of about strength significant cannabinoid a background, the EMD a I been I've very as of held attracted the number only presents here to for was Sanofi. source commitment a development most and a collaborative of talented President leadership

noted, in commercial down up I'd head forward the completion while lenabasum currently studies in fully such a joining back to role, is at the like medicines. many forefront be my novel get in Corbus years and of Yuval. synthetic the to do building with this call to look coming developing to infrastructure turn moves new months. as team the As and potential I'm towards the in over key you And of the to cannabinoid I as the forward of therapeutic look be meeting coming I registrational Yuval that, excited help area to XXXX, talented groundbreaking a truly I'm and I strategy has energized to and speed

Yuval Cohen

you, for expect with be Craig. on on Barbara and now to that a which let me to Barbara? pipeline With clinical for starting is we're We'd call lenabasum lenabasum. like in to update Craig's the an experience we provide over an that update pipeline. Thank turn launch our drive Craig’s and leadership our Corbus XXXX. successful will to milestone important appointment an confident provide clinical

Barbara White

our studies lead systemic Thank evaluated being Patient RESOLVE-X X Phase agonist for and sclerosis dermatomyositis and Lenabasum, study sclerosis systemic anticipate Lenabasum Phase last for dosing you, Yuval. fibrosis we lupus. clinical X and is the by asset. track X our remain in studies patients Phase a enrollment and CBX currently in May. is cystic for and on in

we are track for of We first end the submission of NDA in completion study the XXXX at and XXXX. half on anticipate

has clinical lenabasum sclerosis. with provide that potential optimistic to are systemic We patients the to benefit

drug, extension. in of track placebo remind consistent Our improvement of biomarkers treatment of sclerosis of double-blind mechanism disease, as X study drug inflammation we optimism fast designations multiple you orphan action of sclerosis with lenabasum of the systemic label And in improvement FDA study for based orphan with Phase efficacy of lenabasum on that systemic evidence has animal subjects, treatment and benefitting drug and sclerosis systemic and outcomes the the well its designation also the open models as in controlled of of fibrosis the and for EMA. skin is

the dermatomyositis, to Phase U.S., potential efficacy will It authorities design Japan. be autoimmune study a treatment disease Corbus in largest in study a received study study is input study and registrational date X This rare regulatory DETERMINE Our dermatomyositis. the our subjects. from is testing enrolling and lenabasum Europe of for second interventional safety has on indication. as

keep We occur. informed as you milestones will key

cystic Fibrosis up and high from has $XX This pathogens to of or lenabasum pulmonary XXXX. part $X age patients funded pulmonary also and to track million is study the cystic received designations of for orphan million mutation, Cystic fast with track pulmonary is a follow FDA of years on the of drug study the fibrosis treatment patients Lenabasum effects Development look for enrolling The forward Award X award conducted medications. rate for Foundation in fibrosis we and and Phase on for we study risk XXXX. with to in of Our orphan data to for at EMA. background back CFTR in is to cystic drug XX turn that, its fibrosis ongoing The designation above the is evaluating exacerbation regard without I'll exacerbation lupus it study clinical treatment by and Yuval. With NIH progressing with completion. in

Yuval Cohen

peak $XXX Europe to market the Thank $X the billion $X in with with the patients indications in billion to fibrosis billion dollars billion approximately patients seven up presents XXX,XXX potential for approximately patients $X.X peak XX,XXX million U.S., potential and dermatomyositis This Europe billion potential for peak in opportunity U.S. U.S., initial $X major approximately in with systemic and potentially Japan, sales significant and you, three markets. to for $X patients XXX,XXX in Barbara. Approximately the approximately billion in Japan. sales a for to XX,XXX sclerosis Lenabasum $X.X Europe. annual includes cystic with and annual these annual

second Phase of an generation we CRB-XXXX, inverse Institute with Health fibrosis study data. to initiating preclinical continue agonist Phase expected is to CRB-XXXX NIH organ targeting by plan to in strong peripheral sponsored followed NASH. study of XXXX a X Turning a X National be CRB-XXXX in

lenabasum development new expect programs clinical we each to XXXX. addition drug on progression internal or In the and to of start beginning candidates in year CRB-XXXX, based from one in and two part library our large

for update potential later first pipeline an providing excited we robust and year. look very are about forward candidate we We candidates to with or select the the this our

financial our on comment briefly me let Now position.

$XX As million figure for but that from strong approximately to have Phase the we million this include drive ended nor offering. our the operations public through pivotal does a recent cash in help Kaken we $XX enter not does our lenabasum. X $XX XXXX, million payment sheet balance XXXX We upfront data with licensing proceeds include

up additional sales well Kaken $XXX partnership of will a achievements royalties. million to provide As our upon milestones and regulatory, alone with double-digit as reminder, development certain an as

to approximately lenabasum Before diseases by We've Commercial hiring next key was first and I the for me the and eventual have and reiterate completion we are for question advanced market of $X a accomplished. targeting steps strategy billion. continue leader over to that ever prepare year of of our endocannabinoid fibrotic transformational of following the and the closed truly significant anticipate registrational expanded answers, and inflammatory call the and lenabasum in of for proud up taken system. our transactions to year become commercialization annual opportunity We studies marketing turn Officer let the including pipeline Chief two to significant we to what our Corbus the for treatment vision that XXXX

of Our for study systemic of lead in sclerosis well our on is lenabasum XXXX. first the completion registrational with half compound progressing track

a Xb cystic year Phase study first clinical trials that be Our important initially continue achievements our strides expect XXXX very the compound significantly. clinical to we significant the lenabasum, to we’re CRB-XXXX what as Corbus startup made a was also of timeframe conclusion, over of an in for the years significant XXXX. read candidates grown from send from we such light us, development the of will entrepreneurial over especially our relatively ago, in With lenabasum supporting and to confident are fibrosis milestone we've is drug out clinical library. date short a select to four In large of has development proud initiate company as in

by over in is the base million this we as We equity innovation investor raised and opportunities coverage and successfully banks. investment believe are have scientific about excited cannabinoid top our We research one in Corbus expanding growing available to tier quality capital while underway institutional most high meaningful leader that the $XXX space. advances of a a

the our for drive as of the We’re future solutions we value and to about well shareholders. have patients meaningful excited as Corbus many create for opportunities for

please your Operator, go We to will happy be take now questions. ahead.

Operator

conducting Thank your this be from [Operator a you. At time, coming JMP Our proceed with Bayko question. session. question-and-answer Liisa Please we is question will of first Instructions] Securities.

Liisa Bayko

Hi, How good you? morning. are

Yuval Cohen

Liisa. morning, Good

Liisa Bayko

you idea of in ask of welcome you'll now are some to key commercialization, can some you implies for what the what maybe want comment a team to I Craig are out activities little some the for and and you. you price be market can numbers kind plans your you throw see Thank which then doing well. as be ranges kind that us of about may size, ballpark

Craig Millian

for sure. the you welcome. Yes Liisa, thank Hi

patterns think think think to Yuval we and refine some the to a and I and market start forecasts, current of starting builds by I I research, with range really grounded I’ll to We'll KOLs in we'll opportunity certainly and to that. treatment getting our the meet getting continue want our gave continue patient disease. of and to and out the advocates the commercial define on continue science

data proposition building good different starting I for and be a our about we'll Obviously, think of options and it's thinking the our launch really for range and plans our our out about some value to markets and think the and of a label strategy indications. start. about in initial different our possibilities terms go-to-market that. implications We'll of be thinking our

that to to with key we'll we'll thinking staffing gaps start to in our some a So want identify we'll And some start to capabilities payer hires. perspective. key fill from want start about that and obviously,

and want The the be assessment, a with focused on. piece some So some based published quoted well conducted from they data Yuval robust that assessment and of Health KOls and was objective numbers into premature fairly did come in they within assumption were think that it assumption all of of would those I range. that up get a think done indications was the things at pricing the to by point. different don't in, both a commercial research was was the kind reasonable built little the I again say at as of Europe. to as in But that of this as that both well point. terms Advances it's specifics I pricing this fairly I'll are penetration in as primary completely I the on U.S. payers analysis the

and due in that I dig and acquire into will So as we'll data mentioned those share our to assumptions market those time. to to continue refine research validate continue and and

Liisa Bayko

or kind for the Okay, your component of is then NASH. foray maybe talk Barbara, it different sort maybe fibrosis, your other play? Can where do one of obviously inflammatory mechanism, disease either about great. fat you a kind through with question surrounding see multiple for Thanks. And just compound NASH inflammation as primarily into to you complex target of ways the contributions in your through does

Barbara White

That Liisa, question. so a pathways be seem that CBX is CRB-XXXX multiple to inhibits on inverse doing pathogenesis NASH. means effects agonist. in by for have will you of we and that in CBX involved that, that much the thank

can of shown many It effects having with number helps energy it's we NASH inhibiting anticipate underlying patients with glucose help would have. of CBX the restore a pathways metabolic Genesis, abnormalities resistance First, life insulin it with been so metabolism. beneficial on metabolic with metabolism, and that that helps

carcinoma. to and which initial that are been can for pathogenesis that liver cirrhosis Secondly, a the final on aspects the both even liver drive damage then it's the also transplant lead need disease fibrosis and the Hepatocellular effects to the have shown or of inflammation of aspects

inhibiting indeed affect very we metabolic fibrosis. that's to abnormalities, and And think edge, has targeting NASH, with a approach. potential also it in it CBX validation think CBX antibody & the three Johnson those which important clinical is to pathways, a of potential benefit monoclonal has treatment the CBX into effort they're this also therapeutic of extra inflammation we Johnson put inhibit targeting So doing the of

Liisa Bayko

lot, a guys. Thanks

Operator

Thank you.

question RBC question. Brian Please Capital Our your coming of Abrahams next Markets. from proceed with is

Brian Abrahams

so much for taking and thanks guys, on progress. questions Hey congrats my the all

Yuval Cohen

Thanks Brian.

Brian Abrahams

that. the you're a to little is I talk wondering of guess is wondering sclerosis first going? the with for the and study My follow-ups. of you couple of kind of whether it's you RESOLVE early speak in study that completion clinical maybe I know there? question dermatomyositis but up little if as of how qualitatively initial about types who've a around types nearing I done enrollment, studies that in ongoing to work bit to systemic the and disease trajectory could any of patients getting you if refined the entered the mean corollary guess days you've out relative Phase potential you've with mix burned and have patients the this that bit what about that a expectations chance are a it's entering Thanks. the study and then have I ensure The that set population enrolling eliminated kind a maybe And initial patients the could as I and there sense to was timelines enrollment might that X study

Barbara White

Certainly thanks. Brian,

that about just The nudge part first it. of me

all SSC study the to blinded study, regarding treatment all assignment. were all and of the first studies Phase So that X

that in done and expected look in look many say have looks general patients sclerosis. other diffused been the what what So does systemic like it I with group cutaneous And will all like. we is studies can like

need reasonable group expect to where couch benefit of benefit gender, have Australia determined Japan, skin, of in a that made be whether for patients. attempts again will treatment because get patient terms patients there would a who other to have that skin have duration to clinical who that's from our So we've of that able to we've joints those who they level years, able radiance could Similarly, And European group that ways in many to a who requirement patients point involvement. whatever we more U.S., without patients they’re of disease years to both multiple we be identify of six lung, from no treatment. to I'd like benefit folks they're many if three with thought have for in and we patients treatments. I than benefit representative could have covered out geographies allow patients be selected selection very we And to South countries, can general three Korea, duration so capture. age, any have can representative benefit in disease to certain

that of would that there's is component improvement at measurable, So measurable. the be again least disease

of nothing that been the very So the that forward soon. results we've seeing And type we're patients enrolled. unexpected. completing very very, and with we comfortable enrollment look There's to

represent who study, know In again terms How those benefit. question. the who can disease dermatomyositis important got you of it's and an have do you've patients

have those all those that allow some degrees apparent variable who involvement classic if muscle involvement of minimal with any the disease, involvements patients muscle folks very of criteria and skin who of First involvement. skin to selected we've the us clinically represent inclusion skin through is but muscle and include definite very breadth that definite dermatomyositis

the degrees and selected of So of that clinical we range measure has we total types to improvement patients, have is disease benefit based whole score outcome who range involvement adequate patients have certain activity have. that is they of to that the have the have, upon in that included

the have is as have say to global degree sort of all involvement, good have put as this involvement, abnormalities. of of a is so as these they they as of almost a have muscle has active certain out degree First to skin have they have degree to which active physician or patient well anything to disease, of certain papers, certain

the right got criteria. the right we've right I'm outcome patients, inclusion the and again, So quite confident

Brian Abrahams

hear how CBX the forward helpful, be might additional profiles thanks. structure noticed you love of as looking of just and interrogation facilitate to compound the to that to might have that CBX development next the that some further of year. that then look about wondering pursue library recently these that now and published, the compounds there? you very And we CBX Barbara, treatments you That's targeted types compound was We'd of within bring

Barbara White

I'm you. question. have thank that Well, just so to happy

as field, or the compounds we want particular our And help crystal types of First we that because our do binding of It their molecules In of binds compounds as interrogation CBX structures. of well by I of for us interactions all with of inverse a been we this develop to already to we benefit. tweak it engage has to not we will our will CBX clinic part move models or they regions what engage. about actually experts part our we candidates CRB-XXXX, how move own silico the of the model of say want In us regions. and agonist published And similar actually of all particular would do internal our we will allows potential building just inform that as just along are pipeline into silico set a determining about parts for data number potential it’s the as the as in of that forward actually properties,

very information And continue are So for us. in to silico we'll useful it and currently use using it we modeling.

Brian Abrahams

question for really Craig. maybe perhaps commercial a from That's on helpful. Last question me front the

of SG&A expenses of initial in then and commercial the and oriented about activities year Thanks. years? progresses new should market be of about year maybe we build-out the over hires cadence subsequent shape the that as impact the as through sort spoke strategy on board, year. some you'd course and You this come pursuing How of this the this takes potential think

Sean Moran

here. Moran Sean Brian, Hey

put cash for out we we $XXX it's have So the million. resources guidance over

data into quarter we XXXX. the fourth funded So are through of

Craig So be it those covers all undertaking. that of will activities

Brian Abrahams

much. so Thanks

Craig Millian

Obviously, and think minimal those strategic there'll things this as we of but for year pick the will next our and up primarily filing cadence get so fairly year of as we be hiring. year. Yes, out I not much hiring activities this amounts NDA data approach the

Brian Abrahams

Thanks much. so

Operator

from is B. George Zavoico of with [Operator your ahead go Our Instructions] Riley next question Please FBR. coming questions.

George Zavoico

how in its responsibilities anticipate the when expect everyone about much cocaine et the Pharmaceuticals. there? responsibilities and clinical morning that Good welcome the in regulatory how responsibilities have Corbus whether Kaken I trials any to Quick have including done to specifically and cetera question first might you actually new Japan the much, overseeing development, both basically and Japan guess be in in and is Thanks. pricing Japan and we the Craig milestones there might question

Yuval Cohen

Hey Yuval. George, it's

George Zavoico

Hi Yuval.

Yuval Cohen

by On sites to the way. Japan. in obviously the our partner to started study, Remember is have the very simplistic Japanese dermatomyositis a well in undertake Japan. but has Kaken Japanese is wrap our It’s wonderful think we week last upcoming clinical responsibility systemic up as see basis, Japan. as I you study not elsewhere sclerosis already XX study in

marketing in responsibilities, course and out as and there liaison and Kaken’s be of drug. with well in on selling our from That us regulatory end they will So now actually the means commercial responsibilities as with responsibility. PMDA represent authorities fact negotiating pricing the going Japanese

milestones George milestones, the milestones of they regulatory standard. those type fairly think milestones, for commercialization what very, of are revolve as confidential are, you about you this course terms can deal. probably In them guess standard of sales very but should They and

George Zavoico

to set sclerosis systemic individually a dermatomyositis the there's parallel? and milestones both apply of and And

Yuval Cohen

The dermatomyositis, which and yes just in for answer is the Japan interesting is Japan deal for systemic and sclerosis is just yes.

George Zavoico

or for that. clinical expect from with to I sponsorship event do to Okay. when, And to NIH Thanks sponsorship sponsorship? regards sponsored the NIH in mentioned NIH from trial. suppose Corbus How the of transition you course transition that first with the NASH, it’s you

Barbara White

tight a again, partnership is the that NIH. it very with as I it view So think I

Phase NASH. barrier also or with syndrome studies metabolic NIH look some look to which perhaps will at the the do study a Phase imaging typical patients X with data and we'll have We and will develop design we penetration testing, of biomarkers working of when typical collaboration the the in with X available, in number even we’re at liver and next blood-brain

not complete are designs in done be very but those the close it with So will discussions NIH.

Thereafter it's we do. entirely decide Corbus up to what to

as biomarkers impact determining barrier So blood-brain the penetration. interlude think in helpful extremely in in of on the NIH

George Zavoico

or trial Corbus? NIH be it'll the money But they run first will

Barbara White

run it's the We and they Phase the study projects Kunos, pay biomarkers been study with of look [indiscernible] after the do patients X run will will interests X for metabolic will George for internal and NASH in pay a long-term NIH, they the the and Dr. patients -- syndrome. Phase of

George Zavoico

words will shared responsibilities that it’s be other that you for funding a both So right? you have defined paying in

Yuval Cohen

the Phase the the for Xb, is Phase the on drug George for in-patient to they're and then supply only the about it's Xa, course for thing our the is very X dollar X, of affordable. have Phase that Phase And So obligation nice first NIH. we

George Zavoico

good. That's arrangement. a good that's Okay

Yuval Cohen

I'm with very happy it.

George Zavoico

Yuval, when example terms about sclerosis general market yet really in mentioned talked your systemic diffused the you you sizes, and cutaneous. very trial is for

can you scleroderma eligible perhaps that the actually which and in ones total bit, little down break systemic a would patient once eligible indication? eligible So for population are and general trial proportion the for call you of it's what approved

Barbara White

to I'm is This that. going Barbara. handle

George Zavoico

Thanks Barbara.

Barbara White

The of study cutaneous reasonable varies proportion diffused but to I as as reasonable from think study range. sclerosis ballpark systemic a XX% --

a that's We don't will of what yet. have say, forget terms the label important. In don’t label

or diffused diffused correct I if will sclerosis the label the You're systemic systemic sclerosis. sclerosis, cutaneous population know cutaneous with absolutely study that say patients systemic do not

leave to going it I'm that. So at

George Zavoico

the that to obviously these of subgroups each one and each label words, to on for fair DM? the will what at that will other defined pre-specified both a of a for trials say subgroups. say take in So define look results eventually scleroderma based the Is has

Barbara White

George? that, repeating just mind you Would sorry. I'm

George Zavoico

and others question on Well, might populations. depending broader is eventually? perform within what some label subgroups, whether have say those the subgroups dermatomyositis and And you the than sclerosis systemic the inform will that might better pre-specified

Barbara White

always going to there I'm are No, analysis. say subgroup that

George Zavoico

It’s right, okay, good.

Barbara White

what going you not would this to time. speculate should same label with that the say I'm at And ours. the there expect

George Zavoico

the depend course of that's Yes, of much course. very on going results to

Barbara White

point the want what's the systemic upper in to know, did limited what in I defined cutaneous is have really for systemic that so. parts skin skin, sclerosis of it’s They systemic and by the thinks the to limited less is and physician body And folks cutaneous sclerosis. involved out cutaneous arms, be or legs diffused second, upper the trunk. might what It's clinically sclerosis diffused difference difference not between the

the that If skin be and thickening extends above be the if trunk. the that example, physician the the thickening thinks the elbow would the elbow, for just would limited. stops just diffused that physician thinks skin So below

Sean Moran

terms rates severity based of penetration is into thing, One on We first just take add Yuval market limited. assessments disease that in the consideration, did and I'll diffused referenced.

we the think actually in and label this in did at point will even ultimately assumptions, fairly penetrations time. readout reasonable and look know of assigned will what research, piece So accordingly. Again different don't the data for I we what but segments this be

George Zavoico

to there's this your Okay. of the going that's is commercial of there strategy? and there for I strategy too licensing more question so lot company question Craig. part the a a of size. compound XXX Thanks your for Maybe for likely a final part much library. a perhaps be strategy plus a mean regarding than opportunities of commercial Is

Craig Millian

yes. George, one let answer that resoundingly me embrace both is with arms. The

endocannabinoid If that receptors. compounds these you really our it, bind company is for to go designed think to synthetic the rationally vision about become to

will it ourselves out diseases Some market where and perfect rare there for perfect diseases perfect, actually diseases to sense make go inflammatory sense makes many commercialize are but to diseases with and a partner other like fibrotic particularly us to most big to cannabinoid is Big biology. emphasize decade all this perhaps where decade a will What coming audiences that pharma. Pharma I'd even our conviction overall embrace and be you

or that develop almost the leading unique be position they choice, our pipeline, a strategy. in Big our a case own their dominating either achieved with the also that, medicinal understanding Pharma really and biology, I seeing believe patent of capabilities already that could the has around has our can each of chemistry they a position will depth our expensive, lengthy, which cannabinoids partner company We’re cumbersome

latter the sense. think much more makes I

George Zavoico

point, And growing presume I the still that then library? to you're that

Craig Millian

assumption. safe very a is That

George Zavoico

Okay, great. Thank very you much.

Operator

Thank you. your of This end brings for us in today's to like would to conference. session. the Corbus question-and-answer you today's thank interest Pharmaceuticals

have You lines this at your day. may disconnect wonderful and a time

Corbus Pharmaceuticals (CRBP) 12 Mar 192018 Q4 Earnings call transcript