Corbus Pharma Announces Proposed Public Offering; Stock Surges

(RTTNews) - Corbus Pharmaceuticals Holdings Inc. (CRBP) said that it plans to offer and sell shares of its common stock or, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock in an underwritten registered public offering. All of the securities in the offering are to be sold by Corbus.

Corbus noted that it plans to use the net proceeds of the proposed underwritten offering to fund the clinical development of its pipeline and for working capital and other general corporate purposes.

CRBP closed Tuesday's regular trading at $25.16 up $6.54 or 35.12%. In the after-hours trading the stock further gained $3.34 or 13.28%.