Loading...
•
Jun 30, 2023
Caribou Biosciences Q2 2023 Earnings Report
Caribou Biosciences' Q2 2023 financial results were reported, highlighting pipeline advancements and a recent public offering.
Key Takeaways
Caribou Biosciences reported a net loss of $29.5 million for the second quarter of 2023. The company's cash, cash equivalents, and marketable securities totaled $292.5 million as of June 30, 2023, which includes a $25.0 million investment from Pfizer. They anticipate funding the current operating plan into Q4 2025.
CB-010 ANTLER trial dose expansion is enrolling second-line LBCL patients; the company plans to share FDA feedback by YE 2023 and report initial dose expansion data in H1 2024.
CB-011 CaMMouflage Phase 1 trial enrollment continues in r/r MM.
CB-012 IND application submission for r/r AML is planned for H2 2023.
The company received a $25.0 million equity investment from Pfizer and closed an upsized public offering, delivering $134.6 million in net proceeds.
Caribou Biosciences
Caribou Biosciences
Caribou Biosciences Revenue by Segment
Revenue by Segment
Licensing and collaboration Revenue
CapyFin.com Forward Guidance
Caribou plans to meet with the FDA to discuss a potential pivotal clinical trial in second-line LBCL patients and plans to share FDA feedback by YE 2023. The Company also plans to report initial dose expansion data in second-line LBCL patients from the ongoing ANTLER trial in H1 2024. Updates on dose escalation are expected as the CaMMouflage Phase 1 clinical trial in r/r MM advances, and an IND application for r/r AML is planned for submission in H2 2023.
Positive Outlook
- CB-010: Plan to share FDA feedback by YE 2023.
- CB-010: Plan to report initial dose expansion data in second-line LBCL patients from the ongoing ANTLER trial in H1 2024.
- CB-011: Plan to provide updates on dose escalation as the CaMMouflage Phase 1 clinical trial in r/r MM advances.
- CB-012: Plan to submit an IND application for r/r AML in H2 2023.
- Cash, cash equivalents, marketable securities, and net proceeds from the recent public offering will be sufficient to fund its current operating plan into Q4 2025.
Challenges Ahead
- Risks inherent in the development of cell therapy products.
- 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.
- The risk that initial, preliminary, or interim clinical trial data will not ultimately be predictive of the safety and efficacy of Caribou’s product candidates or that clinical outcomes may differ as patient enrollment continues and as more patient data becomes available.
- The risk that preclinical study results observed will not be borne out in human patients or different conclusions or considerations are reached once additional data have been received and fully evaluated.
- Other risk factors described from time to time in Caribou’s filings with the Securities and Exchange Commission.