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Jun 30, 2024
Caribou Biosciences Q2 2024 Earnings Report
Reported financial results for the second quarter 2024 and reviewed recent pipeline progress.
Key Takeaways
Caribou Biosciences reported $311.8 million in cash, cash equivalents, and marketable securities as of June 30, 2024, sufficient to fund its current operating plan into H2 2026. The company's licensing and collaboration revenue was $3.5 million for the quarter, and it experienced a net loss of $37.7 million.
Advanced CB-010 in the ANTLER phase 1 trial, enrolling 2L LBCL and prior CD19 relapsed LBCL patients with data to be presented in H1 2025.
Presented clinical data from the ongoing ANTLER Phase 1 clinical trial that indicate a single dose of CB-010 has the potential to rival the safety and efficacy of approved autologous CAR-T cell therapies.
Plans to initiate the GALLOP Phase 1 clinical trial in adult patients with LN and ERL by year-end 2024.
Extended cash runway into H2 2026 following the discontinuation of preclinical research activities associated with its allogeneic CAR-NK platform and a workforce reduction.
Revenue by Segment
Forward Guidance
Caribou anticipates several milestones including presenting initial data from CB-010 ANTLER trial, initiating a Phase 3 trial, starting the GALLOP Phase 1 trial, and presenting data from the CB-011 CaMMouflage trial.
Positive Outlook
- CB-010 ANTLER: Present initial data from additional HLA-matched 2L and prior CD19 relapsed LBCL patient cohorts in H1 2025.
- CB-010 ANTLER: Initiate a pivotal Phase 3 clinical trial in H2 2025 should data confirm improved outcomes.
- CB-010 GALLOP: Initiate the GALLOP Phase 1 clinical trial in adult patients with LN and ERL by year-end 2024.
- CB-011 CaMMouflage: Present initial dose escalation data from the ongoing CaMMouflage Phase 1 clinical trial by year-end 2024.
- CB-012 AMpLify: Provide updates on dose escalation as the AMpLify Phase 1 clinical trial in r/r AML advances.
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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