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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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