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Sep 30, 2022
Caribou Biosciences Q3 2022 Earnings Report
Reported financial results for the third quarter of 2022 and provided a business update.
Key Takeaways
Caribou Biosciences reported promising results from its lead allogeneic cell therapy, CB-010, in the ANTLER clinical trial and submitted an IND application for CB-011. The company's financial position remains strong with $342.6 million in cash, cash equivalents, and marketable securities.
CB-010 ANTLER Phase 1 trial in r/r B-NHL is advancing, with additional data from cohort 1 expected by YE 2022.
CB-011 IND application for r/r MM was submitted to the FDA in Q4 2022.
The company has a strong financial position with $342.6 million in cash, cash equivalents, and marketable securities as of September 30, 2022.
6 of 6 patients (100%) achieved a CR as their best response; 3 of 6 patients (50%) maintained a CR at 6 months
Revenue by Segment
Forward Guidance
Caribou anticipates several milestones in the fourth quarter of 2022 and beyond, including data releases and regulatory responses.
Positive Outlook
- Caribou plans to share additional data from cohort 1 of the ongoing ANTLER Phase 1 trial for CB-010 by YE 2022.
- Caribou anticipates the FDA’s response to Caribou’s IND application for CB-011 by YE 2022.
- Caribou expects to announce target selection for CB-020 in Q4 2022.
- Caribou expects to disclose armoring strategies under development for its CAR-NK cell platform in Q4 2022.
- Caribou expects to submit an IND application for CB-012 in 2023.
Challenges Ahead
- Risks related to our limited operating history.
- History of net operating losses.
- Financial position and our ability to raise additional capital as needed to fund our operations and product candidate development.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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