Caribou Biosciences reports Q3 EPS (38c), consensus (45c)

Revenue from Caribou’s licensing and collaboration agreements was $2.0 million for the three months ended September 30, 2024, compared to $23.7 million for the same period in 2023. The decrease was primarily due to the recognition of deferred revenue in the 2023 period in connection with the termination of the AbbVie Collaboration and License Agreement.”We are focused on rapidly advancing our four clinical-stage programs for oncology and autoimmune diseases toward multiple data milestones expected in 2025,” said Rachel Haurwitz, PhD, Caribou’s president and chief executive officer. “To highlight key progress this quarter, in the CB-011 CaMMouflage Phase 1 trial, we are encouraged by observations of efficacy with the implementation of a higher lymphodepletion regimen. We continue to enroll more patients with relapsed or refractory multiple myeloma and plan to report dose escalation data in the first half of 2025. In addition, we continue to expand the development of our lead program CB-010 into lupus and activation activities at multiple sites are underway as we plan to initiate our Phase 1 GALLOP trial by the end of this year.”Caribou reported a net loss of $34.7 million for the three months ended September 30, 2024, compared to $10.0 million for the same period in 2023.