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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.
Caribou Biosciences
Caribou Biosciences
Caribou Biosciences Revenue by Segment
Revenue by Segment
Licensing and collaboration Revenue
CapyFin.com 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.
- 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.
- The risk that preclinical study results observed will not be borne out in human patients.
- The ability to obtain key regulatory input and approvals.