Corbus Pharma (CRBP) Stock Drops 60% After Novo Nordisk’s Cannabinoid-Based Weight Loss Drug Trial Disappoints
Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) experienced a severe drop on Friday, plummeting almost 60% from $52 to $21, as competitor Novo Nordisk (NYSE:NVO) published trial results for monlunabant, a cannabinoid receptor 1 (CB1) inverse agonist. Novo Nordisk shares also traded down roughly 5.5%
Both companies are developing drugs that target the CB1 receptor, a critical part of the endocannabinoid system, which regulates appetite and metabolism. Corbus’s experimental drug, CRB-913, belongs to the same class as monlunabant.
Despite Novo Nordisk‘s announcement of results on weight-loss outcomes, investors appear to be concerned about the actual outcome of the trials.
Monlunabant, the drug tested by Novo Nordisk, acts on the same receptors as cannabis-related compounds.
It is a synthetic small molecule designed to block the CB1 receptor, which plays a key role in appetite regulation. The endocannabinoid system, which is naturally activated by cannabinoids from the cannabis plant, like THC, is …