Corbus Pharmaceuticals CRBP has emerged as an unusual way for investors to gain exposure to the cannabis space. The company recently announced positive results from an early-stage study on its obesity candidate CRB-913, an oral cannabinoid (CBD)-based small molecule.
CRB-913 Gives CRBP’s Cannabis Bet a Boost
CRB-913 is a second-generation cannabinoid type-1 (CB1) receptor inverse agonist drug being developed for obesity. On Monday, Corbus reported data from the phase Ib CANYON-1 study, which showed that treatment with once-daily CRB-913 achieved statistically significant and clinically meaningful weight loss across all three dose levels — 20 mg, 40 mg and 60 mg — at 12 weeks. The 20-mg and 40-mg doses delivered placebo-adjusted mean weight loss of 2.8% and 3.3%, respectively, while the 60-mg dose achieved 5%. There was no evidence of a weight-loss plateau at any of the doses.
The company also highlighted a favorable safety and tolerability profile, noting that treatment discontinuations due to adverse events were lower when compared to those reported for approved oral GLP-1 drugs like Eli Lilly’s LLY Foundayo and Novo Nordisk’s NVO Wegovy pill. Psychiatric adverse events were broadly in line with those reported in studies on popular obesity injectables like Lilly’s Zepbound and Novo’s Wegovy.
Corbus also highlighted how CRB-913 differs from Novo Nordisk’s monlunabant, a CB1 inverse agonist with a similar mechanism. CRB-913 had lower rates of psychiatric adverse events and treatment discontinuations due to adverse events. In addition, preclinical studies showed that CRB-913 was 15 times more peripherally restricted than monlunabant, suggesting a lower likelihood of triggering brain-related adverse events. The comparison is notable because Novo Nordisk discontinued monlunabant’s development in the second quarter of 2026.
While detailed results from the CANYON-1 study are expected at ObesityWeek 2026 in November, Corbus intends to engage with the FDA on a clinical plan to advance CRB-913 to phase II development. The company is also exploring opportunities to combine the candidate with a GLP-1 drug.
However, investors should also look beyond this development at the company’s other fundamentals too.
CRB-913 Isn’t CRBP’s Only Growth Driver
While the obesity candidate is the company’s key cannabis-related asset, Corbus also has an important oncology program in CRB-701, a next-generation Nectin-4-targeting antibody-drug conjugate (ADC). The FDA has cleared the company to begin TEMPO-1, a registrational phase III study that will evaluate the ADC candidate for second-line oropharyngeal squamous cell carcinoma, a form of head and neck cancer. Enrollment is expected to start later this month.
The oncology program gives Corbus a second potential catalyst beyond CRB-913. The TEMPO-1 study initiation is supported by data from a phase I/II study, which achieved a 42.9% confirmed objective response rate (ORR) in second-line OPSCC. The study also showed a confirmed ORR of 34.4% for certain cervical cancer patients in the second-line setting.
Lack of Stable Revenue Stream Is a Concern
With no marketed products, Corbus lacks a source of regular income. The company has to shoulder significant cash burn due to its ongoing clinical studies. To fund these operations, CRBP relies on issuing new stock or debt financing.
Corbus had about $118 million in cash, cash equivalents and investments as of June 30, 2026. The company expects these funds to support operations into 2028 based on its current operating plans and planned expenditures.
CRBP Stock Performance and Estimates
Shares of Corbus Pharma have lost 11% so far this year compared with the industry’s 3% decline, as seen in the chart below.
Image Source: Zacks Investment Research
Estimates for CRBP’s loss per share for 2026 and 2027 have widened in the last 60 days.
Image Source: Zacks Investment Research
How to Play CRBP Stock?
Corbus Pharma offers investors a different way to gain exposure to the cannabis space. Unlike pure-play cannabis companies, the company is not dependent on cultivating, processing or selling cannabis products. Instead, its cannabis-related opportunity comes from applying cannabinoid biology to the large and growing obesity market. The positive CANYON-1 results provide some clinical validation for this approach, although CRB-913 remains a long way from potential commercialization.
It is also worth noting that Corbus is pursuing a CB1-based approach after earlier programs targeting the same pathway faced setbacks. Novo Nordisk discontinued monlunabant in the second quarter of 2026, while Sanofi’s SNY rimonabant program was previously discontinued after psychiatric safety concerns. CRB-913’s peripheral restriction and the safety profile seen so far could help differentiate it, although much more clinical testing is needed.
For long-term investors with a high-risk tolerance, CRBP may be worth monitoring as the company advances both CRB-913 and CRB-701. However, the lack of a stable revenue stream remains a key concern for this Zacks Rank #3 (Hold) stock, as the company continues to fund costly clinical development programs and may require additional capital over time.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).