In a new 13G filing with the SEC, Bihua Chen‘s Cormorant Asset Management reported owning 2.35 million shares of Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP), which account for 5.37% of the company’s outstanding stock. The fund has raised its stake from the 2.00 million shares that it held at the end of June, according to its 13F filing for the June 30 reporting period.
Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) is a clinical-stage pharmaceutical company that produces therapeutics for treating inflammatory and fibrotic diseases. Over the past 12 months, the company’s stock has gained an incredible 229.29%, with the bulk of those gains coming in the past two months. For the second quarter of 2016, Corbus Pharmaceuticals disclosed collaboration revenue of $396,598 and a loss per share of $0.11, compared to revenue of $113,636 and a loss per share of $0.10 for the corresponding quarter of 2015. Recently, Aegis set a price target of $12 on the stock along with a ‘Buy’ rating.
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Among the investors contained within Insider Monkey’s database, seven reported holding long positions in Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) as of the end of June, up from just three at the end of March. Some of the bullish investors included Joseph Edelman’s Perceptive Advisors, which held a $9.57 million position, Fred Knoll’s Knoll Capital Management, with a position valued at $7.67 million, and Jim Simons’ Renaissance Technologies.
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Smart money managers who initiated a new position in the company during the June quarter encompassed Nathan Fischel’s DAFNA Capital Management, which had $1.2 million invested in the stock, and David Kim and Ken Greenberg’s Ghost Tree Capital, which acquired a position worth $897,000.
You can access the original SEC filing by clicking here.
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Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Cormorant Global Healthcare Master Fund | 0 | 1,954,600 | 0 | 1,954,600 | 1,954,600 | 4.47% |
| Cormorant Global Healthcare GP | 0 | 1,954,600 | 0 | 1,954,600 | 1,954,600 | 4.47% |
| Cormorant Asset Management | 0 | 2,350,700 | 0 | 2,350,700 | 2,350,700 | 5.37% |
| Bihua Chen | 0 | 2,350,700 | 0 | 2,350,700 | 2,350,700 | 5.37% |
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Page 1 of 8 – SEC Filing
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | ||
| SCHEDULE 13G | ||
| Under the Securities Exchange Act of 1934 | ||
| (Amendment No. ___)* |
| Corbus Pharmaceuticals Holdings, Inc. | ||
| (Name of Issuer) |
| Common Stock, par value $0.0001 per share | ||
| (Title of Class of Securities) |
| 21833P103 | ||
| (CUSIP Number) |
| September 19, 2016 | ||
| (Date of Event which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
___________________________________
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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Page 2 of 8 – SEC Filing
| 1 | Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Cormorant Global Healthcare Master Fund, LP | |
| 2 | Check the Appropriate Box if a Member of a Group (See Instructions) | |
| (a) [ ] | ||
| (b) [x] | ||
| 3 | SEC Use Only | |
| 4 | Citizenship or Place of Organization. Cayman Islands | |
| Number of Shares Beneficially Owned by Each Reporting Person With | 5 Sole Voting Power 0 shares | |
| 6 Shared Voting Power 1,954,600 shares Refer to Item 4 below. | ||
| 7 Sole Dispositive Power 0 shares | ||
| 8 Shared Dispositive Power 1,954,600 shares Refer to Item 4 below. | ||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person 1,954,600 shares Refer to Item 4 below. | |
| 10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] N/A | |
| 11 | Percent of Class Represented by Amount in Row (9)* 4.47% Refer to Item 4 below. | |
| 12 | Type of Reporting Person (See Instructions) PN (Partnership) | |
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Page 3 of 8 – SEC Filing
| 1 | Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Cormorant Global Healthcare GP, LLC | |
| 2 | Check the Appropriate Box if a Member of a Group (See Instructions) | |
| (a) [ ] | ||
| (b) [x] | ||
| 3 | SEC Use Only | |
| 4 | Citizenship or Place of Organization. Delaware | |
| Number of Shares Beneficially Owned by Each Reporting Person With | 5 Sole Voting Power 0 shares | |
| 6 Shared Voting Power 1,954,600 shares Refer to Item 4 below. | ||
| 7 Sole Dispositive Power 0 shares | ||
| 8 Shared Dispositive Power 1,954,600 shares Refer to Item 4 below. | ||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person 1,954,600 shares Refer to Item 4 below. | |
| 10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] N/A | |
| 11 | Percent of Class Represented by Amount in Row (9)* 4.47% Refer to Item 4 below. | |
| 12 | Type of Reporting Person (See Instructions) OO (Limited Liability Company) | |
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Page 4 of 8 – SEC Filing
| 1 | Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Cormorant Asset Management, LLC | |
| 2 | Check the Appropriate Box if a Member of a Group (See Instructions) | |
| (a) [ ] | ||
| (b) [x] | ||
| 3 | SEC Use Only | |
| 4 | Citizenship or Place of Organization. Delaware | |
| Number of Shares Beneficially Owned by Each Reporting Person With | 5 Sole Voting Power 0 shares | |
| 6 Shared Voting Power 2,350,700 shares Refer to Item 4 below. | ||
| 7 Sole Dispositive Power 0 shares | ||
| 8 Shared Dispositive Power 2,350,700 shares Refer to Item 4 below. | ||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person 2,350,700 shares Refer to Item 4 below. | |
| 10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] N/A | |
| 11 | Percent of Class Represented by Amount in Row (9)* 5.37% Refer to Item 4 below. | |
| 12 | Type of Reporting Person (See Instructions) OO (Limited Liability Company) | |
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Page 5 of 8 – SEC Filing
| 1 | Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Bihua Chen | |
| 2 | Check the Appropriate Box if a Member of a Group (See Instructions) | |
| (a) [ ] | ||
| (b) [x] | ||
| 3 | SEC Use Only | |
| 4 | Citizenship or Place of Organization. United States | |
| Number of Shares Beneficially Owned by Each Reporting Person With | 5 Sole Voting Power 0 shares | |
| 6 Shared Voting Power 2,350,700 shares Refer to Item 4 below. | ||
| 7 Sole Dispositive Power 0 shares | ||
| 8 Shared Dispositive Power 2,350,700 shares Refer to Item 4 below. | ||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person 2,350,700 shares Refer to Item 4 below. | |
| 10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] N/A | |
| 11 | Percent of Class Represented by Amount in Row (9)* 5.37% Refer to Item 4 below. | |
| 12 | Type of Reporting Person (See Instructions) IN (Individual) | |
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Page 6 of 8 – SEC Filing
Item 1.
| (a) | Name of Issuer |
| Corbus Pharmaceuticals Holdings, Inc. | |
| (b) | Address of Issuer’s Principal Executive Offices |
| 100 River Ridge Dr. Norwood, MA 02062 |
Item 2.
| (a) | Name of Person Filing |
| Cormorant Global Healthcare Master Fund, LP Cormorant Global Healthcare GP, LLC Cormorant Asset Management, LLC Bihua Chen | |
| (b) | Address of Principal Business Office or, if none, Residence |
| 200 Clarendon Street, 52nd Floor Boston, MA 02116 | |
| (c) | Citizenship |
| Cormorant Global Healthcare Master Fund, LP – Cayman Islands Cormorant Global Healthcare GP, LLC – Delaware Cormorant Asset Management, LLC – Delaware Bihua Chen – United States | |
| (d) | Title of Class of Securities |
| Common Stock | |
| (e) | CUSIP Number 21833P103 |
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Page 7 of 8 – SEC Filing
| Item 3. | If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) | [ ] | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). |
| (b) | [ ] | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). |
| (c) | [ ] | Insurance Company as defined in Section 3(a)(19) of the Act |
| (d) | [ ] | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). |
| (e) | [ ] | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); |
| (f) | [ ] | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); |
| (g) | [ ] | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); |
| (h) | [ ] | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
| (i) | [ ] | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
| (j) | [ ] | A non-U.S. institution in accordance with §240.13d–1(b)(1)(ii)(J); |
| (k) | [ ] | Group, in accordance with §240.13d-1(b)(1)(ii)(K). |
| Item 4. | Ownership*** |
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
| (a) | Amount Beneficially Owned*** | |
| Cormorant Global Healthcare Master Fund, LP – 1,954,600 shares Cormorant Global Healthcare GP, LLC – 1,954,600 shares Cormorant Asset Management, LLC – 2,350,700 shares Bihua Chen – 2,350,700 shares | ||
| (b) | Percent of Class | |
| Cormorant Global Healthcare Master Fund, LP – 4.47% Cormorant Global Healthcare GP, LLC – 4.47% Cormorant Asset Management, LLC – 5.37% Bihua Chen – 5.37% | ||
| (c) | Number of shares as to which such person has: | |
| (i) | sole power to vote or to direct the vote | |
| Cormorant Global Healthcare Master Fund, LP – 0 shares Cormorant Global Healthcare GP, LLC – 0 shares Cormorant Asset Management, LLC – 0 shares Bihua Chen – 0 shares | ||
| (ii) | shared power to vote or to direct the vote | |
| Cormorant Global Healthcare Master Fund, LP – 1,954,600 shares Cormorant Global Healthcare GP, LLC – 1,954,600 shares Cormorant Asset Management, LLC – 2,350,700 shares Bihua Chen – 2,350,700 shares | ||
| (iii) | sole power to dispose or to direct the disposition of | |
| Cormorant Global Healthcare Master Fund, LP – 0 shares Cormorant Global Healthcare GP, LLC – 0 shares Cormorant Asset Management, LLC – 0 shares Bihua Chen – 0 shares | ||
| (iv) | shared power to dispose or to direct the disposition of | |
| Cormorant Global Healthcare Master Fund, LP – 1,954,600 shares Cormorant Global Healthcare GP, LLC – 1,954,600 shares Cormorant Asset Management, LLC -2,350,700 shares Bihua Chen – 2,350,700 shares | ||
*** Shares reported herein for Cormorant Asset Management, LLC represent 1,954,600 shares of the Issuer’s Common Stock which are beneficially owned by Cormorant Global Healthcare Master Fund, LP (the “Fund”) and 396,100 shares of the Issuer’s Common Stock which are beneficially owned by a managed account (the “Account”). The shares beneficially owned by the Fund represent (i) 1,663,000 shares of the Issuer’s Common Stock and (ii) 291,600 shares of the Issuer’s Common Stock issuable upon the exercise of stock options. The shares beneficially owned by the Account represent (i) 337,000 shares of the Issuer’s Common Stock and (ii) 59,100 shares of the Issuer’s Common Stock issuable upon the exercise of stock options. Cormorant Global Healthcare GP, LLC serves as the general partner of the Fund, and Cormorant Asset Management, LLC serves as the investment manager to both the Fund and the Account. Bihua Chen serves as the managing member of Cormorant Global Healthcare GP, LLC and Cormorant Asset Management, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or her pecuniary interest therein.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
Not applicable.
| Item 8. | Identification and Classification of Members of the Group |
Not applicable.
| Item 9. | Notice of Dissolution of Group |
Not applicable.
| Item 10. | Certification |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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Page 8 of 8 – SEC Filing
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.
September 29, 2016
CORMORANT GLOBAL HEALTHCARE MASTER FUND, LP
By: Cormorant Global Healthcare GP, LLC
its General Partner
its General Partner
By: /s/ Bihua Chen
Bihua Chen, Managing Member
CORMORANT GLOBAL HEALTHCARE GP, LLC
By: /s/ Bihua Chen
Bihua Chen, Managing Member
CORMORANT ASSET MANAGEMENT, LLC
By: /s/ Bihua Chen
Bihua Chen, Managing Member
/s/ Bihua Chen
Bihua Chen
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