Corbus Pharmaceuticals: 2Q Earnings Snapshot
NORWOOD, Mass. (AP) _ Corbus Pharmaceuticals Holdings Inc. (CRBP) on Thursday reported second-quarter net income of $2.2 million, after reporting a loss in the same period a year earlier.
The Norwood, Massachusetts-based company said it had profit of 3 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The drug developer posted revenue of $29.1 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $10.3 million.
Corbus Pharmaceuticals shares have climbed slightly since the beginning of the year. The stock has risen 22% in the last 12 months.