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Dec 31, 2021
Caribou Biosciences Q4 2021 Earnings Report
Caribou Biosciences reported its financial results for the fourth quarter and full year 2021.
Key Takeaways
Caribou Biosciences reported $413.5 million in cash, cash equivalents, and marketable securities as of December 31, 2021. Revenue from licensing and collaboration agreements was $2.6 million for the quarter. Research and development expenses were $15.1 million, and general and administrative expenses were $7.9 million. The net loss for the quarter was $18.5 million.
Plans to present initial ANTLER Phase 1 clinical data at a medical meeting in 2022 for CB-010, its lead allogeneic cell therapy candidate for patients with r/r B-NHL.
2022 submission of IND application planned for CB-011, an allogeneic cell therapy candidate for patients with r/r multiple myeloma.
Leadership team expanded with appointment of Syed Rizvi, M.D., as chief medical officer.
Cash, cash equivalents, and marketable securities of $413.5 million as of December 31, 2021 support advancement of wholly owned pipeline of allogeneic CAR-T and CAR-NK cell therapies.
Forward Guidance
Caribou expects to present initial data from its ongoing ANTLER Phase 1 trial for CB-010, an anti-CD19 CAR-T cell therapy, in adults with r/r B-NHL at a medical meeting in 2022. Caribou expects to submit an IND application for CB-011, an anti-BCMA CAR-T cell therapy, in r/r MM in 2022. Caribou expects to announce target selection for CB-020, an iPSC-derived CAR-NK cell therapy in 2022. Caribou expects to submit an IND application for CB-012, an anti-CD371 CAR-T cell therapy for r/r AML, in 2023.
Positive Outlook
- Present initial data from ANTLER Phase 1 trial for CB-010 at a medical meeting in 2022.
- Submit an IND application for CB-011 in 2022.
- Announce target selection for CB-020 in 2022.
- Disclose multiple armoring strategies under development for its CAR-NK platform in 2022.
- Submit an IND application for CB-012 in 2023.
Challenges Ahead
- Risks inherent in drug development.
- Early stages of clinical development.
- Uncertainties in the initiation, cost, timing, progress and results of current and future research and development programs.
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