Corbus Pharmaceuticals CRBP is not your typical cannabis stock involved in cultivation, processing, or sales of marijuana products. Instead, this clinical-stage company is focused on developing innovative medicines for serious diseases.

Corbus is developing an oral cannabinoid (CBD)-based small molecule called CRB-913 as a potential treatment for obesity.

Let’s take a closer look at the company’s prospects and challenges from an investor’s standpoint.

CRB-913 — CRBP’s Bold Bet on CBD to Tackle Obesity

Corbus’ lead CBD-based candidate, CRB-913, is a second-generation cannabinoid type-1 (CB1) receptor inverse agonist drug being developed for obesity. The company started the single ascending dose/multiple ascending dose (SAD/MAD) portion of a phase I study on this drug in March, with results expected in the third quarter of 2025. Corbus has also begun preparations for a follow-up phase Ib dose-ranging study set to initiate in the fourth quarter and conclude in the second half of 2026.

Through CRB-913, Corbus intends to bridge two sectors growing at an exponential pace —cannabis and obesity. While the cannabis industry is expected to surpass the $170 billion mark by 2032, the obesity space is projected to reach $100 billion by the end of this decade.

While early-stage drug development carries inherent risk, preclinical data suggest that CRB-913 offers meaningful advantages over the previous CB1-targeting therapies. The drug demonstrated a brain-to-plasma ratio 50 times lower than Sanofi’s SNY rimonabant, the development of which was halted due to psychiatric side effects. This ratio measures how much of a drug reaches the brain relative to the bloodstream —a lower ratio indicates limited penetration into the central nervous system (CNS), potentially reducing the risk of CNS-related side effects.

CRB-913 was also found to be 15 times more peripherally restricted than Novo Nordisk’s NVO monlunabant, which is based on a similar mechanism of action. A peripherally restricted drug is designed to act outside the CNS, typically by avoiding penetration of the blood-brain barrier. In September, Novo Nordisk reported results from a mid-stage study that showed its drug achieved about 6.3% weight loss from baseline at week 16, compared to 0.6% in the placebo group. While patients treated with Novo’s drug did report more neuropsychiatric side effects than those in the placebo group, CRB-913’s enhanced peripheral restriction suggests a lower likelihood of triggering such brain-related adverse events.

Corbus Isn’t Just Riding the Cannabis Wave

Besides CRB-913, Corbus is advancing two investigational oncology drugs in its portfolio for treating solid tumors.

The company’s lead oncology asset is CRB-701 — a next-generation antibody-drug conjugate (ADC) targeting Nectin-4. This drug is currently being evaluated in a phase I/II study. Corbus intends to complete the dose optimization portion of this study by the end of this year and determine the recommended phase II dose.

The company is also developing CRB-601, an anti-αvβ8 integrin monoclonal antibody, in an early-stage study. Data from the dose-escalation portion of this study is expected by this year’s end.

No Commercial Products Yet: A Major Hurdle for Corbus

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. The company’s current cash runway of about $133 million, as of March 2025-end, is projected to fund operations into the second quarter of 2027.

CRBP Stock Performance and Estimates

Shares of Corbus Pharma have lost 39% year to date compared with the industry’s 6% decline, as seen in the chart below. This decline likely reflects investor concerns around the company’s financial position and lack of commercial revenues.

Estimates for CRBP’s loss per share for 2025 and 2026 have widened in the last 60 days.

How to Play CRBP Stock?

Corbus Pharma presents an intriguing long-term opportunity for investors seeking exposure to emerging cannabinoid science and next-generation oncology assets. The company’s diversified pipeline — led by two promising oncology programs and bolstered by CRB-913 — reflects its strategic shift beyond traditional cannabis applications.

However, with no marketed products and all assets in early clinical stages, the road to commercialization remains long and uncertain for this Zacks Rank #3 (Hold) company. While short-term investors may want to wait for further clinical validation, long-term investors with a high-risk tolerance may find Corbus worth monitoring as its pipeline advances.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

This article originally published on Zacks Investment Research (zacks.com).

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