Summary of Caribou Biosciences Conference Call Company Overview - **Company**: Caribou Biosciences - **Technology**: Proprietary next-generation CRISPR technology, referred to as Chardonnay technology - **Programs**: Two off-the-shelf CAR T cell therapies in clinical stages for lymphoma (CB10) and multiple myeloma (CB11) [3][4] Core Insights CAR T Cell Therapy Landscape - **Current State**: Autologous CAR T therapies have transformative outcomes for patients, but only a small percentage can access them (20% for lymphoma, 10% for myeloma) [5][6] - **Opportunity**: Significant unmet medical need exists for allogeneic CAR T therapies, which can be readily available off the shelf [5][6] Program Updates - **CB10 (Lymphoma)**: - Ongoing study shows potential outcomes on par with autologous CAR Ts [3][4] - First patient remains in complete response after four years [8] - Focus on patients with at least four shared HLA alleles, which correlates with better outcomes [9][21] - Data disclosure expected in the second half of the year, with a majority of patients at least six months post-dosing [10][11] - **CB11 (Multiple Myeloma)**: - Initial dose escalation study showed low efficacy; lymphodepletion increased from 300 mg/m² to 500 mg/m², resulting in improved outcomes [32][34] - Data from at least 25 patients expected in the second half of the year [35][36] Regulatory and Development Path - **Pivotal Trial Design**: Discussions with the FDA ongoing; RMAT designation allows proactive engagement [15][16] - **Safety Database**: Sufficient data from phase one studies to inform future pivotal trials [22] Competitive Landscape - **Positioning**: Caribou is the only group in advanced development for second-line large B cell lymphoma, providing a unique competitive advantage [27] - **In Vivo CAR Ts**: Early-stage discussions on the potential of in vivo approaches and their implications for CAR T therapy [28][29] Financial Guidance - **Cash Runway**: Approximately $212 million available, expected to last into the second half of 2027 [42][43] - **Capital Allocation**: Focused on advancing the two primary programs, with discontinuation of other phase one studies and preclinical research [42][43] Additional Insights - **Patient Access**: Only about 10% of patients currently have access to commercial autologous CAR Ts, highlighting the opportunity for allogeneic therapies [41] - **MRD Negativity**: Important metric for assessing depth of response in myeloma therapy, with data to be provided in upcoming updates [36] This summary encapsulates the key points discussed during the conference call, focusing on the company's strategic direction, program updates, regulatory considerations, competitive positioning, and financial outlook.

Company Overview - Caribou Biosciences, Inc. is a clinical-stage CRISPR genome-editing biopharmaceutical company focused on developing transformative therapies for patients with severe diseases [3] - The company's genome-editing platform utilizes Cas12a chRDNA technology, which offers superior precision for developing cell therapies [3] - Caribou is concentrating on CB-010 and CB-011 as off-the-shelf CAR-T cell therapies aimed at providing broad access and rapid treatment for patients with hematologic malignancies [3] Upcoming Events - Rachel Haurwitz, PhD, the president and CEO of Caribou, will participate in a fireside chat at the Jefferies Global Healthcare Conference on June 4 at 9:20 AM EDT [1] - A link to the webcast of the event will be available on Caribou's website, and the webcasts will remain accessible for at least 30 days post-event [2]

Caribou Biosciences (CRBU) 2025 Conference May 13, 2025 05:35 PM ET Speaker0 Alright. So flipping straight into the next session, thank you for joining this session, with my name is Alex Stranahan. I'm senior biotech analyst at Bank of America covering Cariboo, and I'm pleased to be joined by Rachel Horowitz, president and CEO of Cariboo. Thanks for being here. Speaker1 Thanks for having us. We really appreciate it. Speaker0 Great. Well, we've got time for a mini fireside here, And and maybe just jumping in ...

Core Viewpoint - Caribou Biosciences, Inc. (CRBU) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for Caribou Biosciences indicates an expected loss of -$1.37 per share for the fiscal year ending December 2025, reflecting a year-over-year change of 17% [9]. - Over the past three months, the Zacks Consensus Estimate for Caribou Biosciences has increased by 23.2%, suggesting a positive outlook for the company's earnings [9]. Zacks Rating System - The Zacks rating system is based solely on a company's changing earnings picture, which is tracked through EPS estimates from sell-side analysts [2]. - The system classifies stocks into five groups, with Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell), and has shown an impressive track record, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [8]. - The upgrade of Caribou Biosciences to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [11].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ______________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40631 ______________________________________ Caribou Biosciences, Inc. ( ...

[Form 8-K: Caribou Biosciences, Inc. Current Report](index=1&type=section&id=Form%208-K%3A%20Caribou%20Biosciences%2C%20Inc.%20Current%20Report) This Form 8-K details Caribou Biosciences' strategic pipeline prioritization, cost reductions, and clinical trial timeline updates [Results of Operations and Financial Condition](index=2&type=section&id=Item%202%2E02%20Results%20of%20Operations%20and%20Financial%20Condition) Caribou Biosciences reported a preliminary unaudited cash balance of **$212.5 million** as of March 31, 2025, and announced strategic pipeline prioritization Preliminary Cash, Cash Equivalents, and Marketable Securities | Metric | Value (Preliminary, Unaudited) | | :--- | :--- | | Cash, cash equivalents, and marketable securities | $212.5 million | - The announced financial estimate is **preliminary** and may be **materially different** from the final reported figures for the quarter ended March 31, 2025, as the company finalizes its financial statements[7](index=7&type=chunk) [Costs Associated with Exit or Disposal Activities](index=2&type=section&id=Item%202%2E05%20Costs%20Associated%20with%20Exit%20or%20Disposal%20Activities) Caribou is undergoing strategic restructuring, including a **32%** workforce reduction and **$2.5M-$3.5M** in charges, to extend its cash runway into H2 2027 - The company is prioritizing its lead oncology programs: **CB-010** (ANTLER trial for B cell non-Hodgkin lymphoma) and **CB-011** (CaMMouflage trial for multiple myeloma)[9](index=9&type=chunk) - The company has discontinued: the **GALLOP** phase 1 trial (CB-010 for lupus), the **AMpLify** phase 1 trial (CB-012 for acute myeloid leukemia), and **all preclinical research**[9](index=9&type=chunk) Workforce Reduction Details | Metric | Value | | :--- | :--- | | Workforce Reduction | 47 employees (~32%) | | Expected Completion | End of Q2 2025 | Estimated Restructuring Costs | Cost Category | Estimated Amount | Expected Timing | | :--- | :--- | :--- | | **Total Restructuring Costs** | **$2.5M - $3.5M** | - | | Workforce Reduction Costs | $1.8M - $2.0M | Q2 2025 | | Clinical Trial Wind-down Costs | $0.7M - $1.5M | Through Q3 2025 | - As a result of the restructuring, the company's cash runway is now expected to fund operations into the **second half of 2027**[11](index=11&type=chunk) [Other Events](index=3&type=section&id=Item%208%2E01%20Other%20Events) Caribou announced updated timelines for presenting ANTLER and CaMMouflage clinical trial data in H2 2025 - Initial data from the ANTLER phase 1 trial's confirmatory cohort (CB-010 in 2L LBCL) is now planned for presentation in **H2 2025**, with at least six months of follow-up for most patients[13](index=13&type=chunk) - Dose escalation data from the CaMMouflage phase 1 trial (CB-011 in r/r MM) is also planned for presentation in **H2 2025**, including data from at least 25 patients[13](index=13&type=chunk) [Financial Statements and Exhibits](index=3&type=section&id=Item%209%2E01%20Financial%20Statements%20and%20Exhibits) This section lists the Form 8-K exhibits, primarily the press release detailing strategic changes and financial updates Exhibits Filed | Exhibit No. | Description | | :--- | :--- | | 99.1 | Press Release Issued by Caribou Biosciences, Inc. on April 24, 2025 |

Core Insights - Caribou Biosciences, Inc. is a clinical-stage CRISPR genome-editing biopharmaceutical company focusing on developing allogeneic CAR-T cell therapies for hematologic malignancies, with two lead programs, CB-010 and CB-011, expected to disclose clinical data in H2 2025 [1][2][17] Financial Overview - As of March 31, 2025, Caribou had $212.5 million in cash, cash equivalents, and marketable securities, down from $249.4 million as of December 31, 2024, which is expected to fund operations into H2 2027 [10][21] - Licensing and collaboration revenue for Q1 2025 was $2.4 million, consistent with the same period in 2024 [11] - Research and development expenses increased to $35.5 million in Q1 2025 from $33.8 million in Q1 2024, primarily due to ongoing clinical trials [12] - General and administrative expenses decreased to $9.7 million in Q1 2025 from $14.6 million in Q1 2024, attributed to lower legal and personnel-related expenses [13] - The net loss for Q1 2025 was $40.0 million, slightly improved from a net loss of $41.2 million in Q1 2024 [14] Clinical Program Updates - CB-010 is an allogeneic anti-CD19 CAR-T cell therapy for large B cell lymphoma, while CB-011 is an allogeneic anti-BCMA CAR-T cell therapy for multiple myeloma [3][4] - Caribou is currently enrolling a 20-patient confirmatory cohort in the ANTLER Phase 1 clinical trial for CB-010, with data expected in H2 2025 [7][8] - Encouraging efficacy has been observed in the ongoing CaMMouflage Phase 1 clinical trial for CB-011, with plans to present data in H2 2025 [7][18] Strategic Initiatives - The company has implemented a strategic pipeline prioritization, focusing resources on lead oncology programs and reducing workforce by approximately 32%, which is expected to extend the cash runway by one year [5][10] - Discontinued clinical trials include CB-010 for lupus and CB-012 for relapsed or refractory acute myeloid leukemia, with ongoing follow-up for patients previously treated [5]

Company Overview - Caribou Biosciences, Inc. is a clinical-stage CRISPR genome-editing biopharmaceutical company focused on developing transformative therapies for patients with severe diseases [3] - The company's genome-editing platform utilizes Cas12a chRDNA technology, which offers superior precision for developing cell therapies aimed at improving activity against diseases [3] Product Focus - Caribou is concentrating on two off-the-shelf CAR-T cell therapies, CB-010 and CB-011, which have the potential to provide broad access and rapid treatment for patients suffering from hematologic malignancies [3] Upcoming Events - Rachel Haurwitz, PhD, the president and CEO of Caribou, will participate in a fireside chat at the BofA Securities 2025 Health Care Conference on May 13th at 2:35 PM PDT [1] - Webcasts of the event will be available on Caribou's website for at least 30 days following the event [2]

-- Strategic pipeline prioritization with workforce and cost reductions expected to extend the company’s cash runway by one year into H2 2027 -- -- Two robust clinical datasets from CB-010 and CB-011 now expected to be disclosed in H2 2025 -- -- CB-010 ANTLER 2L LBCL Phase 1 dataset expected to include at least six months of follow up on the majority of patients; ongoing interactions with FDA on potential pivotal trial design -- -- CB-011 CaMMouflage r/r MM Phase 1 dose escalation dataset expected to includ ...

Group 1: Earnings Performance - Caribou Biosciences reported a quarterly loss of $0.39 per share, slightly better than the Zacks Consensus Estimate of a loss of $0.40, and consistent with the loss of $0.39 per share from the previous year, indicating an earnings surprise of 2.50% [1] - The company posted revenues of $2.08 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 18.23%, and down from $3.56 million in the same quarter last year [2] - Over the last four quarters, Caribou has surpassed consensus EPS estimates three times, but has only topped revenue estimates once [2] Group 2: Stock Performance and Outlook - Caribou Biosciences shares have declined approximately 27% since the beginning of the year, contrasting with the S&P 500's decline of 1.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.44 on revenues of $3.5 million, and for the current fiscal year, it is -$1.78 on revenues of $11.4 million [7] - The estimate revisions trend for Caribou is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Group 3: Industry Context - The Medical - Biomedical and Genetics industry, to which Caribou belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]