Caribou Biosciences(CRBU) - 2025 Q1 - Quarterly Results

Form 8-K: Caribou Biosciences, Inc. Current Report This Form 8-K details Caribou Biosciences' strategic pipeline prioritization, cost reductions, and clinical trial timeline updates Results of Operations and Financial Condition 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] Costs Associated with Exit or Disposal Activities 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] - 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] 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] Other Events 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] - 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] Financial Statements and Exhibits 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 |