Intrinsic value of Corbus Pharmaceuticals Holdings - CRBP

Previous Close

$6.06

  Intrinsic Value

$0.25

stock screener

  Rating & Target

str. sell

-96%

Previous close

$6.06

 
Intrinsic value

$0.25

 
Up/down potential

-96%

 
Rating

str. sell

We calculate the intrinsic value of CRBP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  4
  6
  9
  13
  18
  25
  34
  45
  58
  73
  90
  110
  133
  158
  186
  217
  249
  285
  323
  363
  405
  450
  497
  546
  597
  650
  706
  764
  824
  886
Variable operating expenses, $m
  45
  69
  104
  151
  212
  292
  392
  515
  662
  836
  1,039
  1,270
  1,530
  1,821
  2,141
  2,491
  2,869
  3,276
  3,710
  4,171
  4,658
  5,172
  5,710
  6,274
  6,863
  7,477
  8,117
  8,782
  9,474
  10,193
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  45
  69
  104
  151
  212
  292
  392
  515
  662
  836
  1,039
  1,270
  1,530
  1,821
  2,141
  2,491
  2,869
  3,276
  3,710
  4,171
  4,658
  5,172
  5,710
  6,274
  6,863
  7,477
  8,117
  8,782
  9,474
  10,193
Operating income, $m
  -41
  -63
  -95
  -137
  -194
  -267
  -358
  -470
  -605
  -764
  -948
  -1,159
  -1,397
  -1,663
  -1,955
  -2,274
  -2,619
  -2,991
  -3,387
  -3,808
  -4,253
  -4,722
  -5,214
  -5,728
  -6,266
  -6,827
  -7,411
  -8,018
  -8,650
  -9,307
EBITDA, $m
  -41
  -63
  -94
  -136
  -192
  -264
  -355
  -466
  -599
  -757
  -940
  -1,149
  -1,385
  -1,648
  -1,938
  -2,254
  -2,596
  -2,964
  -3,357
  -3,774
  -4,215
  -4,680
  -5,167
  -5,678
  -6,210
  -6,766
  -7,345
  -7,947
  -8,573
  -9,224
Interest expense (income), $m
  0
  0
  0
  1
  2
  3
  4
  6
  8
  10
  13
  17
  21
  26
  31
  37
  44
  51
  59
  67
  77
  86
  96
  107
  118
  130
  142
  155
  168
  182
  196
Earnings before tax, $m
  -41
  -64
  -96
  -139
  -197
  -271
  -363
  -478
  -615
  -777
  -965
  -1,180
  -1,423
  -1,694
  -1,992
  -2,318
  -2,671
  -3,050
  -3,455
  -3,885
  -4,339
  -4,818
  -5,320
  -5,846
  -6,396
  -6,969
  -7,566
  -8,186
  -8,832
  -9,503
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -41
  -64
  -96
  -139
  -197
  -271
  -363
  -478
  -615
  -777
  -965
  -1,180
  -1,423
  -1,694
  -1,992
  -2,318
  -2,671
  -3,050
  -3,455
  -3,885
  -4,339
  -4,818
  -5,320
  -5,846
  -6,396
  -6,969
  -7,566
  -8,186
  -8,832
  -9,503

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  24
  37
  55
  79
  112
  154
  207
  271
  349
  441
  547
  669
  807
  960
  1,128
  1,313
  1,512
  1,726
  1,955
  2,198
  2,455
  2,725
  3,009
  3,306
  3,617
  3,941
  4,278
  4,628
  4,993
  5,372
Adjusted assets (=assets-cash), $m
  24
  37
  55
  79
  112
  154
  207
  271
  349
  441
  547
  669
  807
  960
  1,128
  1,313
  1,512
  1,726
  1,955
  2,198
  2,455
  2,725
  3,009
  3,306
  3,617
  3,941
  4,278
  4,628
  4,993
  5,372
Revenue / Adjusted assets
  0.167
  0.162
  0.164
  0.165
  0.161
  0.162
  0.164
  0.166
  0.166
  0.166
  0.165
  0.164
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
  0.165
Average production assets, $m
  2
  3
  4
  6
  9
  12
  16
  21
  27
  34
  42
  52
  62
  74
  87
  101
  117
  133
  151
  169
  189
  210
  232
  255
  279
  304
  330
  357
  385
  414
Working capital, $m
  -10
  -15
  -23
  -33
  -47
  -64
  -86
  -113
  -146
  -184
  -229
  -280
  -337
  -401
  -471
  -548
  -632
  -721
  -817
  -918
  -1,026
  -1,139
  -1,257
  -1,381
  -1,511
  -1,646
  -1,787
  -1,934
  -2,086
  -2,244
Total debt, $m
  9
  18
  31
  49
  73
  104
  142
  189
  246
  313
  390
  479
  579
  691
  814
  948
  1,094
  1,250
  1,417
  1,594
  1,781
  1,978
  2,185
  2,402
  2,628
  2,864
  3,110
  3,365
  3,631
  3,908
Total liabilities, $m
  17
  27
  40
  58
  82
  112
  151
  198
  254
  321
  399
  488
  588
  700
  823
  957
  1,102
  1,258
  1,425
  1,602
  1,790
  1,987
  2,194
  2,410
  2,637
  2,873
  3,118
  3,374
  3,640
  3,916
Total equity, $m
  6
  10
  15
  21
  30
  42
  56
  73
  95
  119
  148
  181
  219
  260
  306
  356
  410
  468
  530
  596
  665
  739
  816
  896
  980
  1,068
  1,159
  1,254
  1,353
  1,456
Total liabilities and equity, $m
  23
  37
  55
  79
  112
  154
  207
  271
  349
  440
  547
  669
  807
  960
  1,129
  1,313
  1,512
  1,726
  1,955
  2,198
  2,455
  2,726
  3,010
  3,306
  3,617
  3,941
  4,277
  4,628
  4,993
  5,372
Debt-to-equity ratio
  1.360
  1.830
  2.110
  2.290
  2.410
  2.490
  2.540
  2.570
  2.600
  2.620
  2.630
  2.640
  2.650
  2.660
  2.660
  2.670
  2.670
  2.670
  2.670
  2.680
  2.680
  2.680
  2.680
  2.680
  2.680
  2.680
  2.680
  2.680
  2.680
  2.680
Adjusted equity ratio
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271
  0.271

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -41
  -64
  -96
  -139
  -197
  -271
  -363
  -478
  -615
  -777
  -965
  -1,180
  -1,423
  -1,694
  -1,992
  -2,318
  -2,671
  -3,050
  -3,455
  -3,885
  -4,339
  -4,818
  -5,320
  -5,846
  -6,396
  -6,969
  -7,566
  -8,186
  -8,832
  -9,503
Depreciation, amort., depletion, $m
  0
  1
  1
  1
  2
  2
  3
  4
  5
  7
  8
  10
  12
  15
  17
  20
  23
  27
  30
  34
  38
  42
  46
  51
  56
  61
  66
  71
  77
  83
Funds from operations, $m
  -41
  -63
  -95
  -138
  -195
  -268
  -360
  -473
  -609
  -770
  -957
  -1,170
  -1,411
  -1,679
  -1,975
  -2,298
  -2,647
  -3,023
  -3,425
  -3,851
  -4,301
  -4,776
  -5,274
  -5,796
  -6,340
  -6,908
  -7,500
  -8,115
  -8,755
  -9,420
Change in working capital, $m
  -4
  -5
  -8
  -10
  -14
  -18
  -22
  -27
  -32
  -38
  -45
  -51
  -57
  -64
  -70
  -77
  -83
  -90
  -96
  -102
  -107
  -113
  -119
  -124
  -130
  -135
  -141
  -147
  -152
  -158
Cash from operations, $m
  -37
  -58
  -87
  -128
  -181
  -251
  -338
  -446
  -577
  -732
  -912
  -1,119
  -1,353
  -1,615
  -1,904
  -2,221
  -2,564
  -2,934
  -3,329
  -3,749
  -4,194
  -4,663
  -5,156
  -5,671
  -6,211
  -6,773
  -7,359
  -7,969
  -8,603
  -9,262
Maintenance CAPEX, $m
  0
  0
  -1
  -1
  -1
  -2
  -2
  -3
  -4
  -5
  -7
  -8
  -10
  -12
  -15
  -17
  -20
  -23
  -27
  -30
  -34
  -38
  -42
  -46
  -51
  -56
  -61
  -66
  -71
  -77
New CAPEX, $m
  -1
  -1
  -1
  -2
  -3
  -3
  -4
  -5
  -6
  -7
  -8
  -9
  -11
  -12
  -13
  -14
  -15
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
Cash from investing activities, $m
  -1
  -1
  -2
  -3
  -4
  -5
  -6
  -8
  -10
  -12
  -15
  -17
  -21
  -24
  -28
  -31
  -35
  -40
  -45
  -49
  -54
  -59
  -64
  -69
  -75
  -81
  -87
  -93
  -99
  -106
Free cash flow, $m
  -38
  -59
  -89
  -130
  -185
  -256
  -345
  -454
  -587
  -744
  -927
  -1,137
  -1,374
  -1,639
  -1,932
  -2,252
  -2,600
  -2,973
  -3,373
  -3,798
  -4,248
  -4,722
  -5,219
  -5,741
  -6,285
  -6,854
  -7,446
  -8,062
  -8,702
  -9,368
Issuance/(repayment) of debt, $m
  8
  9
  13
  18
  24
  31
  38
  47
  57
  67
  78
  89
  100
  112
  123
  134
  145
  156
  167
  177
  187
  197
  207
  217
  226
  236
  246
  256
  266
  276
Issuance/(repurchase) of shares, $m
  44
  67
  101
  146
  205
  282
  378
  495
  636
  802
  994
  1,213
  1,460
  1,735
  2,038
  2,368
  2,725
  3,108
  3,517
  3,951
  4,409
  4,891
  5,397
  5,927
  6,480
  7,057
  7,657
  8,281
  8,931
  9,606
Cash from financing (excl. dividends), $m  
  52
  76
  114
  164
  229
  313
  416
  542
  693
  869
  1,072
  1,302
  1,560
  1,847
  2,161
  2,502
  2,870
  3,264
  3,684
  4,128
  4,596
  5,088
  5,604
  6,144
  6,706
  7,293
  7,903
  8,537
  9,197
  9,882
Total cash flow (excl. dividends), $m
  15
  17
  25
  33
  44
  57
  71
  88
  105
  124
  145
  165
  186
  208
  229
  250
  270
  291
  310
  330
  348
  367
  385
  403
  421
  439
  457
  476
  494
  514
Retained Cash Flow (-), $m
  -44
  -67
  -101
  -146
  -205
  -282
  -378
  -495
  -636
  -802
  -994
  -1,213
  -1,460
  -1,735
  -2,038
  -2,368
  -2,725
  -3,108
  -3,517
  -3,951
  -4,409
  -4,891
  -5,397
  -5,927
  -6,480
  -7,057
  -7,657
  -8,281
  -8,931
  -9,606
Prev. year cash balance distribution, $m
  54
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  25
  -50
  -76
  -112
  -161
  -225
  -306
  -407
  -530
  -677
  -849
  -1,048
  -1,274
  -1,528
  -1,809
  -2,118
  -2,454
  -2,817
  -3,206
  -3,621
  -4,061
  -4,524
  -5,012
  -5,524
  -6,059
  -6,618
  -7,200
  -7,806
  -8,436
  -9,092
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  24
  -46
  -66
  -93
  -125
  -163
  -207
  -255
  -305
  -355
  -403
  -447
  -484
  -513
  -531
  -538
  -534
  -519
  -494
  -460
  -420
  -375
  -329
  -281
  -236
  -193
  -155
  -121
  -92
  -68
Current shareholders' claim on cash, %
  30.9
  11.2
  4.2
  1.6
  0.6
  0.2
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Corbus Pharmaceuticals Holdings, Inc. is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment. The Company's product, anabasum is a synthetic oral endocannabinoid-mimetic drug that is designed to resolve chronic inflammation and halt fibrotic processes without causing immunosuppression. Anabasum stimulates the production of Specialized Pro-Resolving Lipid Mediators (SPMs) that act to resolve inflammation, and halt fibrosis by activating endogenous pathways. The Company is developing anabasum to treat four diseases: systemic sclerosis, cystic fibrosis, diffuse cutaneous, skin-predominant dermatomyositis and systemic lupus erythematosus (SLE).

FINANCIAL RATIOS  of  Corbus Pharmaceuticals Holdings (CRBP)

Valuation Ratios
P/E Ratio -13.5
Price to Sales 135.4
Price to Book 30.1
Price to Tangible Book
Price to Cash Flow -19.3
Price to Free Cash Flow -19.3
Growth Rates
Sales Growth Rate 100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -129%
Ret/ On Assets - 3 Yr. Avg. -101.6%
Return On Total Capital -222.2%
Ret/ On T. Cap. - 3 Yr. Avg. -147.4%
Return On Equity -222.2%
Return On Equity - 3 Yr. Avg. -154.1%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -1000%
EBITDA Margin - 3 Yr. Avg. -633.3%
Operating Margin -1000%
Oper. Margin - 3 Yr. Avg. -633.3%
Pre-Tax Margin -1000%
Pre-Tax Margin - 3 Yr. Avg. -633.3%
Net Profit Margin -1000%
Net Profit Margin - 3 Yr. Avg. -633.3%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

CRBP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CRBP stock intrinsic value calculation we used $2.440195 million for the last fiscal year's total revenue generated by Corbus Pharmaceuticals Holdings. The default revenue input number comes from 0001 income statement of Corbus Pharmaceuticals Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CRBP stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CRBP is calculated based on our internal credit rating of Corbus Pharmaceuticals Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Corbus Pharmaceuticals Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CRBP stock the variable cost ratio is equal to 1150%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CRBP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Corbus Pharmaceuticals Holdings.

Corporate tax rate of 27% is the nominal tax rate for Corbus Pharmaceuticals Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CRBP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CRBP are equal to 46.7%.

Life of production assets of 3.7 years is the average useful life of capital assets used in Corbus Pharmaceuticals Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CRBP is equal to -253.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $57.783561 million for Corbus Pharmaceuticals Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 57.142 million for Corbus Pharmaceuticals Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Corbus Pharmaceuticals Holdings at the current share price and the inputted number of shares is $0.3 billion.

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COMPANY NEWS

▶ Corbus Pharmaceuticals: 3Q Earnings Snapshot   [10:03AM  Associated Press]
▶ Stocks Jump 2%+ on Solid Earnings   [Oct-17-18 09:15AM  Zacks]
▶ Can Corbus Pharmaceuticals Hold Its Gains?   [08:18AM  TheStreet.com]
▶ Corbus stock jumps after biotech purchases hundreds of potential drugs   [02:07PM  American City Business Journals]
▶ Corbus Pharmaceuticals: 2Q Earnings Snapshot   [09:13AM  Associated Press]
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▶ What to Expect From Corbus Pharmaceuticals in 2018   [Dec-20-17 06:37AM  Motley Fool]
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▶ Why Corbus Pharmaceuticals Holdings Inc (CRBP) Could Be A Buy   [Nov-13-17 02:15PM  Simply Wall St.]

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