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Caribou Biosciences Inc. (CRBU+8.81%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes details on the company's financial performance, revealing a net loss of $149.1 million for the year, compared to $102.1 million in the previous year. The increase in net loss is attributed to higher research and development expenses as the company advances its clinical trials.
Caribou is focused on developing CRISPR genome-editing technologies, with a pipeline that includes several allogeneic CAR-T cell therapy product candidates. These candidates are in various stages of clinical development targeting hematologic malignancies and autoimmune diseases.
The company's lead product candidates include CB-010, CB-011, and CB-012, which are being evaluated in phase 1 clinical trials. CB-010 targets CD19-positive B-NHL, CB-011 targets BCMA-positive multiple myeloma, and CB-012 targets CLL-1-positive acute myeloid leukemia.
Caribou has received fast track designations from the FDA for its CB-010, CB-011, and CB-012 product candidates, and CB-010 has also received RMAT designation for relapsed or refractory large B cell lymphoma.
The company relies on third-party CMOs for the manufacture of its clinical supplies and acknowledges the risks associated with supply chain disruptions and manufacturing challenges.
Caribou's patent portfolio includes U.S. and foreign patents and applications covering its CRISPR chRDNA technologies. The company is involved in ongoing patent proceedings related to CRISPR-Cas9 technologies.
Caribou recognizes the competitive landscape in the biopharmaceutical industry, with competition from other companies developing similar genome-editing and cell therapy technologies.
The company has entered into strategic agreements, including a significant investment from Pfizer, which provides Pfizer with certain rights related to Caribou's BCMA product candidates.
Caribou highlights the risks associated with its business, including the need for additional capital, reliance on third-party manufacturers, and the regulatory environment for genome-editing technologies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Caribou Biosciences Inc. annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.