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Dec 31, 2023
Caribou Biosciences Q4 2023 Earnings Report
Caribou Biosciences reported Q4 2023 financial results and provided a business update.
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.
Revenue by Segment
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
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