Corbus Pharmaceuticals Holdings, Inc.
| Company Name | Corbus Pharmaceuticals Holdings, Inc. |
| Stock Symbol | CRBP |
| Class Period | November 14, 2016 to February 28, 2019 |
| Lead Plaintiff Motion Deadline | May 13, 2019 |
On February 28, 2019, an article was published on Seeking Alpha alleging that Corbus “has ties to investors convicted of or alleged to have committed securities fraud” and that its drug candidate, lenabasum, is believed to have “failed its major trials in [systemic sclerosis] and [cystic fibrosis].” On this news, shares of Corbus fell $1.32 per share or nearly 16% to close at $6.94 per share on February 28, 2019, thereby injuring investors.
The Complaint in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Corbus improperly changed the primary efficacy endpoint for the clinical study of its drug candidate, Lenabasum, after the results were unblinded to Corbus; (2) Corbus reported a one-sided p value, not the traditional two-sided p value normally reported in clinical trials, in an effort to conceal the fact that the study results did not have statistical significance; and (3) as a result, Corbus’ public statements were materially false and misleading at all relevant times.
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