Norwood Company Named State's Top Performing Biotech

NORWOOD, MA — The title of best performing biotech in the state goes to a Norwood-based company.

Corbus Pharmaceuticals regained the title Monday morning after gaining nearly nearly $180 million in market cap, the Boston Business Journal reported.

Shares of the company rose over 68 percent to $9.85 a share following an announcement that their anti-inflammatory drug, known as Resunab, showed a “clear signal of clinical benefit” during a Phase 2 trial, according to the BBJ.

The company's stock has reportedly increased 486 percent this year and the company has a market value of $435 million.