Caribou Biosciences Q4 2023 Earnings Report
Key Takeaways
Caribou Biosciences reported $3.6 million in licensing and collaboration revenue and a net loss of $34.5 million for the fourth quarter of 2023. The company's cash, cash equivalents, and marketable securities totaled $372.4 million as of December 31, 2023, expected to fund operations into Q1 2026.
Dosed the 30th patient in CB-010 ANTLER Phase 1 trial dose expansion; initial dose expansion data and RP2D to be disclosed in Q2 2024.
Dosed the 1st patient in CB-012 AMpLify Phase 1 trial for patients with r/r AML.
Cash, cash equivalents, and marketable securities of $372.4 million are expected to fund the current operating plan into Q1 2026.
Plans to present initial dose escalation data from the CaMMouflage Phase 1 clinical trial by year-end 2024.
Caribou Biosciences
Caribou Biosciences
Forward Guidance
Caribou plans to present initial dose expansion data and the RP2D for CB-010 in Q2 2024, initial dose escalation data for CB-011 by year-end 2024, and updates on dose escalation for CB-012 as the AMpLify Phase 1 clinical trial advances. The company expects its cash, cash equivalents, and marketable securities will be sufficient to fund its current operating plan into Q1 2026.
Positive Outlook
- CB-010: In Q2 2024, Caribou plans to present initial dose expansion data, the recommended Phase 2 dose (RP2D), and emerging translational data from the ANTLER Phase 1 clinical trial, as well as an updated timeline for the pivotal Phase 3 trial initiation.
- CB-011: Caribou plans to present initial dose escalation data from the CaMMouflage Phase 1 clinical trial by year-end 2024.
- CB-012: Caribou plans to provide updates on dose escalation as the AMpLify Phase 1 clinical trial in r/r AML advances.
- Caribou received the FDA’s input on a Phase 3 randomized pivotal trial for CB-010 in second-line r/r LBCL, stating that Caribou’s proposed comparator arm of platinum-based immunochemotherapy followed by high dose chemotherapy (HDCT) and autologous stem cell transplantation (ASCT) is acceptable.
- Caribou continues to develop its CAR-NK cell therapy platform as these therapies may have potential for the treatment of multiple diseases.
Challenges Ahead
- Caribou has paused the development of CB-020, a preclinical allogeneic anti-ROR1 CAR-NK cell therapy.
- 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 or that clinical outcomes may differ as patient enrollment continues and as more patient data becomes available.
- The ability to obtain key regulatory input and approvals.