Page 1

May 13 , 2021 CORBUS PHARMACEUTICALS Corbus Pharmaceuticals Reports First Quarter 2021 Financial Results and Provides Corporate Updates • Phase 3 study oflenabasum in dermatomyositis on schedule for topline data in Q2 2021 • Company focused on advancing cannabinoid programs in metabolic diseases and cancer into the clinic in 2022 • Corbus is actively engaging with potential partners to expand its pipeline through acquisition of external assets • Cash and investments on hand of $ 125M provides projected runway into Q1 2024 -- Norwood , MA , May 13 , 2021 ( GLOBE NEWSWIRE ) Corbus Pharmaceuticals Holdings , Inc. ( NASDAQ : CRBP ) ( " Corbus ” or the “ Company ” ) , a clinical - stage drug development company pioneering transformative medicines that target the endocannabinoid system , today reported financial results for the first quarter of 2021 and provided corporate updates . Pipeline Updates : • Lenabasum , a novel , oral , selective cannabinoid receptor type 2 ( CB2 ) agonist : 。 Dermatomyositis : The last subject completed the final visit in the Phase 3 " DETERMINE " study on March 30 , 2021. Topline data are on schedule for Q2 2021 . 。 Systemic lupus erythematosus : The last subject was enrolled in the National Institutes of Health - sponsored Phase 2 study on April 20 , 2021. Topline data are expected in the second half of 2021 . • Cannabinoid receptor type 1 ( CB1 ) inverse agonists for metabolic diseases : 。 Corbus compounds promote weight loss and improve glucose tolerance and insulin sensitivity in a preclinical model of diet - induced obesity . Corbus is moving toward candidate selection and first - in - human clinical studies in 2022 . • CB2 agonists for cancer : 。 Multiple Corbus compounds have demonstrated activity against tumor cells in vitro , and several show activity as monotherapy in animal models of solid tumors . The Company plans candidate selection later this year and first - in- human clinical studies in 2022 . Yuval Cohen , Ph.D. , Chief Executive Officer said , " We are making progress on our plan to expand our pipeline with our internal cannabinoid programs as well as actively engaging with