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Mar 31, 2024
Caribou Biosciences Q1 2024 Earnings Report
Caribou Biosciences reported financial results for the first quarter of 2024 and reviewed recent pipeline progress.
Key Takeaways
Caribou Biosciences reported a net loss of $41.2 million for the first quarter of 2024, with $345.9 million in cash, cash equivalents, and marketable securities as of March 31, 2024. The company is advancing four clinical-stage programs and expects its current cash to fund operations into Q1 2026.
Advanced CB-010 ANTLER Phase 1 trial for 2L LBCL, with initial dose expansion data to be presented at ASCO 2024.
Expanded into autoimmune diseases with IND cleared for CB-010 in lupus nephritis and extrarenal lupus; GALLOP Phase 1 clinical trial expected to initiate by YE 2024.
Progressed four clinical-stage programs for hematologic malignancies and autoimmune diseases, anticipating multiple milestones.
Held $345.9 million in cash, cash equivalents, and marketable securities, expected to fund the current operating plan into Q1 2026.
Revenue by Segment
Forward Guidance
Caribou Biosciences anticipates several milestones across its clinical programs.
Positive Outlook
- Presentation of initial dose expansion data for CB-010 in second-line large B cell lymphoma at ASCO 2024.
- Initiation of GALLOP Phase 1 clinical trial for CB-010 in adult patients with lupus nephritis and extrarenal lupus by year-end 2024.
- Presentation of initial dose escalation data from the CaMMouflage Phase 1 clinical trial for CB-011 by year-end 2024.
- Advancement of dose escalation in the AMpLify Phase 1 clinical trial for CB-012 in r/r AML.
- Cash, cash equivalents, and marketable securities are expected to fund the current operating plan into Q1 2026.
Challenges Ahead
- Uncertainties related to the initiation, cost, timing, progress, and results of Caribou’s current and future research and development programs, preclinical studies, and clinical trials
- Risk that initial, preliminary, or interim clinical trial data will not ultimately be predictive of the safety and efficacy of Caribou’s product candidates
Historical Earnings Impact
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Avg. Return Before/After Earnings
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