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Caribou Biosciences Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update
CRBUCaribou Biosciences(CRBU) GlobeNewswire·2025-03-10 20:05

Core Insights - Caribou Biosciences is advancing its clinical programs for hematologic malignancies and autoimmune diseases, with two key clinical data disclosures expected in the first half of 2025 [2][11] - The company reported a cash position of 249.4millionasofDecember31,2024,whichisprojectedtofundoperationsintothesecondhalfof2026[12][20]ClinicalPrograms−CB−010isanallogeneicanti−CD19CAR−TcelltherapybeingevaluatedintheANTLERPhase1trialforsecond−linelargeBcelllymphomaandintheGALLOPPhase1trialforlupusnephritis[3][4][17]−CB−011isanallogeneicanti−BCMACAR−Tcelltherapyforrelapsedorrefractorymultiplemyeloma,currentlyintheCaMMouflagePhase1trial[5][18]−CB−012isanallogeneicanti−CLL−1CAR−Tcelltherapyforrelapsedorrefractoryacutemyeloidleukemia,undergoingtheAMpLifyPhase1trial[6][19]FinancialPerformance−LicensingandcollaborationrevenueforQ42024was249.4 million as of December 31, 2024, which is projected to fund operations into the second half of 2026 [12][20] Clinical Programs - CB-010 is an allogeneic anti-CD19 CAR-T cell therapy being evaluated in the ANTLER Phase 1 trial for second-line large B cell lymphoma and in the GALLOP Phase 1 trial for lupus nephritis [3][4][17] - CB-011 is an allogeneic anti-BCMA CAR-T cell therapy for relapsed or refractory multiple myeloma, currently in the CaMMouflage Phase 1 trial [5][18] - CB-012 is an allogeneic anti-CLL-1 CAR-T cell therapy for relapsed or refractory acute myeloid leukemia, undergoing the AMpLify Phase 1 trial [6][19] Financial Performance - Licensing and collaboration revenue for Q4 2024 was 2.1 million, down from 3.6millioninQ42023,withfull−yearrevenueof3.6 million in Q4 2023, with full-year revenue of 10.0 million compared to 34.5millionin2023[13]−Researchanddevelopmentexpensesincreasedto34.5 million in 2023 [13] - Research and development expenses increased to 30.5 million for Q4 2024 and 130.2millionforthefullyear,comparedto130.2 million for the full year, compared to 31.3 million and 112.1millioninthepreviousyear[14]−Generalandadministrativeexpensesroseto112.1 million in the previous year [14] - General and administrative expenses rose to 10.5 million for Q4 2024 and 46.5millionforthefullyear,comparedto46.5 million for the full year, compared to 9.7 million and $38.5 million in 2023 [15] Corporate Updates - Sri Ryali was appointed as the new Chief Financial Officer in January 2025, overseeing finance, investor relations, and corporate communications [9] - Chief Scientific Officer Steve Kanner will retire in June 2025 after nearly eight years, transitioning to an advisory role [10] Anticipated Milestones - Caribou plans to present data from the ANTLER and CaMMouflage trials in H1 2025, with a pivotal Phase 3 trial for CB-010 expected to start in H2 2025 if initial data supports it [11][15][22]