Caribou Q1 net loss $28M, cash $291M; CB-010 dose expansion enrolling, CB-011 dosing initiated

Caribou Biosciences, Inc.

2023-Q1 EPS reported -$0.46 revenue$3,502,000

Net loss of $28.0M in Q1 2023, vs $19.1M in Q1 2022, driven by higher R&D expenses.
Cash and equivalents $291.0M as of March 31, 2023; cash runway into 2025.
R&D expenses rose to $25.7M (Q1 2023) from $13.9M (Q1 2022) to advance pipeline.
CB-010 ANTLER trial enrolling second-line LBCL in dose expansion; plan to report data H2 2023.
CB-011 CaMMouflage Phase 1 dosing at dose level 1 for r/r multiple myeloma; IND for CB-012 planned H2 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Caribou Biosciences, Inc. reported three months ended March 31, 2023 results: revenue $3.5 million, net income $28.0 million net loss.

Period: three months ended March 31, 2023
Revenue: $3.5 million
Net income: $28.0 million net loss
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Results Cash, cash equivalents, and marketable securities: Caribou had $291.0 million in cash, cash equivalents, and marketable securities as of March 31, 2023, compared to $317.0 million as of December 31, 2022. Caribou expects its cash, cash equivalents, and marketable securities will be sufficient to fund its current operating plan into 2025. Licensing and collaboration revenue: Revenue from Caribou’s licensing and collaboration agreements was $3.5 million for the three months ended March 31, 2023, compared to $2.7 million for the same period 2022. The increase was primarily due to revenue recognized under the Collaboration and License Agreement with AbbVie and other license agreements. R&D expenses: Research and development expenses were $25.7 million for the three months ended March 31, 2023, compared to $13.9 million for the same period in 2022. The increase was primarily due to costs to advance pipeline programs, including the ANTLER and CaMMouflage

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Source: SEC EDGAR

accession 0001619856-23-000070

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