Caribou Biosciences falls on early-stage cancer therapy data

Caribou Biosciences

03/06/2024 14:10

** Shares of Caribou Biosciences  CRBU.O  fall 17.36% to
$2.38 premarket
    ** On Sunday, CRBU presented updated data from an ongoing
early stage trial studying its off-the-shelf CAR-T cell therapy
CB-010
    ** Co reported 5 deaths of which 1 death was possibly
related to CB-010 due to bladder rupture
    ** Data shows CRBU's therapy helped increase the time
patients live without disease progression by 14.4 months on
average; patients had received therapy with partial matching of
a type of protein known as human leukocyte antigens (HLA)    
    ** HLA matching is used to match patients and donors for
blood or marrow transplants    
    ** At least three analysts said the data was broadly
positive; they said will wait for more data
    ** While early data suggests "good efficacy", data needs to
mature to illustrate durability, and there is an opportunity for
the complete response rate to improve - Brokerage Truist
    ** Brokerage Evercore ISI questions if the data is "good
enough," adds is not yet convinced that it will be competitive
with emerging off-the-shelf therapies
    ** Evercore reduces rating to "in line" from "outperform",
cuts PT to $3 from $13
    ** Up to last close, stock down ~50% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))