Core Insights - Caribou Biosciences, Inc. is advancing its allogeneic CAR-T cell programs, CB-010 and CB-011, with robust clinical datasets expected to be disclosed in the second half of 2025 [1][2] - The company reported $184 million in cash, cash equivalents, and marketable securities, which is projected to fund operations into the second half of 2027 [1][4] Clinical Programs - CB-010 is an allogeneic anti-CD19 CAR-T cell therapy targeting B cell non-Hodgkin lymphoma, while CB-011 is an anti-BCMA CAR-T cell therapy for multiple myeloma [3][11][12] - Both programs are generating encouraging Phase 1 results, reinforcing the potential of these therapies [2] Financial Performance - As of June 30, 2025, Caribou had $183.9 million in cash, down from $249.4 million at the end of 2024 [4][17] - Licensing and collaboration revenue for Q2 2025 was $2.7 million, a decrease from $3.5 million in Q2 2024 [5][18] - Research and development expenses were $27.7 million for Q2 2025, down from $35.5 million in the same period last year [5][18] Losses and Expenses - The company reported a net loss of $54.1 million, or $0.58 per share, for Q2 2025, compared to a net loss of $37.7 million, or $0.42 per share, for Q2 2024 [9][18] - Non-GAAP net loss for Q2 2025, excluding non-cash impairment charges, was $32.8 million, or $0.35 per share [9][19] Strategic Updates - Caribou is interacting with the FDA regarding a potential pivotal trial for CB-010, contingent on positive data and alignment [5][6] - The company plans to present data from both clinical trials in H2 2025, which will include initial safety and efficacy data [5][6]

Core Insights - Caribou Biosciences is strategically prioritizing its lead oncology programs, CB-010 and CB-011, while implementing workforce and cost reduction initiatives to extend its cash runway into H2 2027 [1][13] - The company plans to disclose robust clinical datasets for CB-010 and CB-011 in H2 2025, which are expected to demonstrate efficacy in treating hematologic malignancies [2][14] Pipeline Prioritization - Caribou is focusing resources on CB-010 and CB-011, discontinuing the GALLOP Phase 1 trial for lupus and the AMpLify Phase 1 trial for acute myeloid leukemia [5][7] - The workforce reduction is approximately 32%, with expected cash savings of $2.5 to $3.5 million from these strategic decisions [13] Clinical Programs - CB-010 is an allogeneic anti-CD19 CAR-T cell therapy for B cell non-Hodgkin lymphoma, with data expected to show outcomes comparable to approved autologous CAR-T therapies [6][10] - CB-011 is an allogeneic anti-BCMA CAR-T cell therapy for multiple myeloma, with ongoing dose escalation trials showing encouraging efficacy [4][11] Financial Position - As of March 31, 2025, Caribou expects to report $212.5 million in cash, cash equivalents, and marketable securities [8] - The strategic changes are anticipated to extend the company's cash runway by one year, allowing operations to continue into H2 2027 [13] Upcoming Milestones - In H2 2025, Caribou plans to present data from the ANTLER Phase 1 trial for CB-010, including safety and efficacy data from a 20-patient cohort [14] - For CB-011, the company will present dose escalation data and recommended doses for expansion from the ongoing CaMMouflage Phase 1 trial [14]