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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
Caribou Biosciences
Caribou Biosciences
Caribou Biosciences Revenue by Segment
Revenue by Segment
Licensing and collaboration Revenue
CapyFin.com 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.
- Risks inherent in development of cell therapy products.
- Uncertainties related to the initiation, cost, timing, progress, and results of current and future research and development programs, preclinical studies, and clinical trials.