$CRBU reports strong pipeline progress in Q4 and full year 2022
Mar 9th 2023, 10:14 pm
Analyst Summary: Caribou Biosciences reported their financial results for the fourth quarter and full year 2022, highlighting their pipeline progress. They plan to advance two ongoing clinical trials for off-the-shelf cell therapies in hematologic malignancies as well as submit an IND application for their third program, CB-012. President and CEO commented that the initial dose level of CB-010 demonstrates complete response rates that have the potential to rival approved CAR-T cell therapies. He also expressed excitement about the FDA granting CB-010 program RMAT and Fast Track designations last year. The company’s cash, cash equivalents, and marketable securities are expected to fund current operating plans until 2025. Caribou is deploying the power of its Cas12a chRDNA technology to carry out high efficiency multiple edits to develop CRISPR-edited therapies with increased precision. Management expects to provide updates from their ANTLER Phase 1 clinical trial for CB-010 in H2 2023 as well as updates from their CaMMouflage Phase 1 clinical trial for CB-011 as appropriate. However, there are significant uncertainties in their forward-looking statements about their clinical development program, and investors should exercise caution when evaluating such predictions.