Corbus Pharmaceuticals (NASDAQ: CRBP) stock fell 24% in the past month. Corbus announced last month that the results from its Phase 3 study of Lenabasum did not meet primary endpoint of total improvement score at Week 28, which accelerated its stock price decline.

Lenabasum, the company's lead candidate, designed to provide an alternative to immunosuppressive treatments for inflammatory or fibrotic diseases, and now, it is in a Phase III clinical trial. In clinical testing to date, Lenabasum has acceptable safety and tolerability profiles.

Although the trial did not meet primary endpoint of total improvement score at Week 28, the company is still planning next steps for Lenabasum, and it currently has strong cash position to advance its diversified pipeline. Therefore, CRBP stock is still worth watching closely, but it does not seem to be the best buying point now.

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