Caribou Biosciences (CRBU)
Market Price (6/20/2026): $1.635 | Market Cap: $156.7 MilSector: Health Care | Industry: Biotechnology
Caribou Biosciences (CRBU)
Market Price (6/20/2026): $1.635Market Cap: $156.7 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -58% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more. | Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -138% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -120 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1067% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 100% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -904%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -909% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -89% Key risksCRBU key risks include [1] its history of operating losses and the need for significant additional financing to fund development, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -58% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -138% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -120 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1067% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 100% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -904%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -909% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -89% |
| Key risksCRBU key risks include [1] its history of operating losses and the need for significant additional financing to fund development, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Caribou Biosciences (CRBU) stock has lost about 15% since 2/28/2026 because of the following key factors:
1. Cash Position Decline and Funding Requirements: Caribou Biosciences experienced a notable decline in its cash, cash equivalents, and marketable securities, which fell by approximately 16.9% from $142.8 million as of December 31, 2025, to $118.6 million as of March 31, 2026 (fiscal Q1 2026). Although the company anticipates its current cash runway will extend into the second half of 2027, management is actively exploring additional funding options to fully finance the pivotal ANTLER-3 trial for its lead candidate, vispa-cel. This ongoing cash burn and the need for future financing can weigh on investor sentiment for a pre-revenue biotechnology company.
2. Mixed Investor Reaction to Clinical Trial Updates: On June 11, 2026, Caribou reported longer-term follow-up data from its Phase 1 ANTLER trial for vispa-cel and dose escalation durability data from the Phase 1 CaMMouflage trial for CB-011, which also received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA. While the CB-011 data showed a 92% overall response rate and an 83% complete or stringent complete response rate in BCMA-naïve patients at the recommended dose, the announcement also included a report of one CB-011-related death due to immune effector cell-associated hematotoxicity across all treated patients in the selected lymphodepletion regimen (N=35). Despite positive aspects such as durable responses and RMAT designation, the stock was observed to be down 2.72% pre-news on the day of the announcement, indicating a cautious or mixed investor reaction to the comprehensive clinical update.
Show more
Caribou Biosciences (CRBU) stock has lost about 15% since 2/28/2026 because of the following key factors:
1. Cash Position Decline and Funding Requirements: Caribou Biosciences experienced a notable decline in its cash, cash equivalents, and marketable securities, which fell by approximately 16.9% from $142.8 million as of December 31, 2025, to $118.6 million as of March 31, 2026 (fiscal Q1 2026). Although the company anticipates its current cash runway will extend into the second half of 2027, management is actively exploring additional funding options to fully finance the pivotal ANTLER-3 trial for its lead candidate, vispa-cel. This ongoing cash burn and the need for future financing can weigh on investor sentiment for a pre-revenue biotechnology company.
2. Mixed Investor Reaction to Clinical Trial Updates: On June 11, 2026, Caribou reported longer-term follow-up data from its Phase 1 ANTLER trial for vispa-cel and dose escalation durability data from the Phase 1 CaMMouflage trial for CB-011, which also received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA. While the CB-011 data showed a 92% overall response rate and an 83% complete or stringent complete response rate in BCMA-naïve patients at the recommended dose, the announcement also included a report of one CB-011-related death due to immune effector cell-associated hematotoxicity across all treated patients in the selected lymphodepletion regimen (N=35). Despite positive aspects such as durable responses and RMAT designation, the stock was observed to be down 2.72% pre-news on the day of the announcement, indicating a cautious or mixed investor reaction to the comprehensive clinical update.
3. Divergent Analyst and Technical Outlooks: While some Wall Street analysts maintained a "Buy" or "Strong Buy" consensus rating for CRBU with an average price target of $8.67 as of June 11, 2026, implying a significant upside from its then-current price of $1.66, other quantitative analyses presented a more bearish outlook for the period. For instance, an AI-driven forecast on June 8, 2026, projected Caribou Biosciences Inc. as a "Strong Sell" candidate, anticipating a potential trading channel between $0.48 and $1.21 for the remainder of 2026 based on negative momentum indicators and technical signals. This divergence between fundamental analyst optimism and technical/AI-driven bearish signals may have contributed to uncertainty and downward pressure on the stock.
4. Reduced Research and Development Expenses: In fiscal Q1 2026, Caribou Biosciences reported a significant reduction in research and development (R&D) expenses, which decreased from $35.5 million in fiscal Q1 2025 to $20.6 million. While the company attributed this decline to reduced external activity and it contributed to an earnings per share (EPS) beat of -$0.26 against an estimated -$0.31, some investors might interpret such a substantial cut (approximately 42%) in R&D spending as a potential slowdown in the pace of pipeline advancement or a cautious approach to development, which can temper enthusiasm for a clinical-stage biotech.
Show less
Stock Movement Drivers
Fundamental Drivers
The -13.7% change in CRBU stock from 2/28/2026 to 6/19/2026 was primarily driven by a -26.4% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.90 | 1.64 | -13.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9 | 11 | 20.5% |
| P/S Multiple | 19.1 | 14.0 | -26.4% |
| Shares Outstanding (Mil) | 93 | 96 | -2.7% |
| Cumulative Contribution | -13.7% |
Market Drivers
2/28/2026 to 6/19/2026| Return | Correlation | |
|---|---|---|
| CRBU | -13.7% | |
| Market (SPY) | 9.2% | 47.7% |
| Sector (XLV) | -6.4% | 26.1% |
Fundamental Drivers
The -15.5% change in CRBU stock from 11/30/2025 to 6/19/2026 was primarily driven by a -27.9% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.94 | 1.64 | -15.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9 | 11 | 20.5% |
| P/S Multiple | 19.5 | 14.0 | -27.9% |
| Shares Outstanding (Mil) | 93 | 96 | -2.7% |
| Cumulative Contribution | -15.5% |
Market Drivers
11/30/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| CRBU | -15.5% | |
| Market (SPY) | 9.9% | 42.8% |
| Sector (XLV) | -4.4% | 27.1% |
Fundamental Drivers
The 54.7% change in CRBU stock from 5/31/2025 to 6/19/2026 was primarily driven by a 41.7% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.06 | 1.64 | 54.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 10 | 11 | 13.0% |
| P/S Multiple | 9.9 | 14.0 | 41.7% |
| Shares Outstanding (Mil) | 93 | 96 | -3.3% |
| Cumulative Contribution | 54.7% |
Market Drivers
5/31/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| CRBU | 54.7% | |
| Market (SPY) | 28.1% | 38.1% |
| Sector (XLV) | 14.6% | 27.9% |
Fundamental Drivers
The -62.8% change in CRBU stock from 5/31/2023 to 6/19/2026 was primarily driven by a -36.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312023 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.41 | 1.64 | -62.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15 | 11 | -23.7% |
| P/S Multiple | 18.4 | 14.0 | -23.6% |
| Shares Outstanding (Mil) | 61 | 96 | -36.2% |
| Cumulative Contribution | -62.8% |
Market Drivers
5/31/2023 to 6/19/2026| Return | Correlation | |
|---|---|---|
| CRBU | -62.8% | |
| Market (SPY) | 85.7% | 31.2% |
| Sector (XLV) | 22.9% | 24.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CRBU Return | -8% | -58% | -9% | -72% | 0% | 3% | -90% |
| Peers Return | -8% | -58% | -5% | -46% | 10% | 31% | -72% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| CRBU Win Rate | 17% | 33% | 33% | 33% | 42% | 33% | |
| Peers Win Rate | 40% | 33% | 43% | 33% | 53% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CRBU Max Drawdown | - | -67% | -56% | -81% | -61% | -34% | |
| Peers Max Drawdown | -59% | -65% | -55% | -66% | -61% | -34% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRSP, ALLO, EDIT, NTLA, BEAM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | CRBU | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -48.7% | -18.8% |
| % Gain to Breakeven | 95.1% | 23.1% |
| Time to Breakeven | 83 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -45.5% | -9.5% |
| % Gain to Breakeven | 83.5% | 10.5% |
| Time to Breakeven | 92 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.0% | -6.7% |
| % Gain to Breakeven | 66.6% | 7.1% |
| Time to Breakeven | 9 days | 31 days |
In The Past
Caribou Biosciences's stock fell -48.7% during the 2025 US Tariff Shock. Such a loss loss requires a 95.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | CRBU | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -48.7% | -18.8% |
| % Gain to Breakeven | 95.1% | 23.1% |
| Time to Breakeven | 83 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -45.5% | -9.5% |
| % Gain to Breakeven | 83.5% | 10.5% |
| Time to Breakeven | 92 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.0% | -6.7% |
| % Gain to Breakeven | 66.6% | 7.1% |
| Time to Breakeven | 9 days | 31 days |
In The Past
Caribou Biosciences's stock fell -48.7% during the 2025 US Tariff Shock. Such a loss loss requires a 95.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Caribou Biosciences (CRBU)
Caribou Biosciences (CRBU) is a clinical-stage biopharmaceutical company focused on developing cutting-edge, genome-edited allogeneic cell therapies. These innovative therapies are designed to treat various blood cancers and solid tumors by utilizing genetically modified immune cells, specifically T-cells (CAR-T) and NK-cells (CAR-NK), derived from healthy donors. This "off-the-shelf" approach aims to provide more accessible and scalable treatment options compared to therapies made from a patient's own cells.
The company's pipeline features several product candidates targeting significant unmet medical needs. Its lead program, CB-010, is an allogeneic anti-CD19 CAR-T cell therapy currently in Phase 1 clinical trials for patients with relapsed or refractory B cell non-Hodgkin lymphoma. Other key candidates include CB-011, an allogeneic anti-BCMA CAR-T therapy for relapsed or refractory multiple myeloma, and CB-012, an allogeneic anti-CD371 CAR-T therapy for acute myeloid leukemia. Caribou is also developing CB-020, an allogeneic CAR-NK cell therapy, for solid tumors.
Caribou Biosciences serves the global pharmaceutical market, with the ultimate goal of providing transformative therapies for patients battling severe hematologic malignancies and solid tumors. Reinforcing its potential, the company also maintains a strategic collaboration with AbbVie for the further development of CAR-T cell therapies. Its primary customers are future patients and healthcare providers seeking advanced, readily available cell-based treatments for challenging cancers.
AI Analysis | Feedback
Caribou Biosciences is like:
- CRISPR Therapeutics for 'off-the-shelf' CAR-T cancer treatments.
- Kite Pharma (Gilead) or Novartis for gene-edited, universal CAR-T therapies.
AI Analysis | Feedback
- CB-010: An allogeneic anti-CD19 CAR-T cell therapy in Phase 1 clinical trial for relapsed or refractory B cell non-Hodgkin lymphoma.
- CB-011: An allogeneic anti-BCMA CAR-T cell therapy developed for the treatment of relapsed or refractory multiple myeloma.
- CB-012: An allogeneic anti-CD371 CAR-T cell therapy for the treatment of relapsed or refractory acute myeloid leukemia.
- CB-020: An allogeneic CAR-NK cell therapy designed for the treatment of solid tumors.
AI Analysis | Feedback
Caribou Biosciences (CRBU) is a clinical-stage biopharmaceutical company focused on developing allogeneic cell therapies. As a company in the research and development phase, it does not currently have commercial products on the market being sold to traditional customers like individuals or healthcare providers.
Instead, its primary "customer" or revenue-generating relationship comes from its collaboration agreements with larger pharmaceutical companies for the development and potential commercialization of its drug candidates. Based on the provided description, Caribou Biosciences has a significant collaboration with:
- AbbVie Manufacturing Management Unlimited Company (ABBV)
This collaboration focuses on developing CAR-T cell therapies, where AbbVie acts as a partner that may provide funding, milestone payments, and/or royalties, making it the closest entity to a "customer" for Caribou Biosciences in its current stage of operation.
AI Analysis | Feedback
AI Analysis | Feedback
Rachel Haurwitz, PhD - President and Chief Executive Officer
Rachel Haurwitz is a co-founder of Caribou Biosciences and has served as its President and Chief Executive Officer and a director since the company's inception in 2011. She is an inventor on patents and patent applications covering multiple CRISPR-based technologies. In 2014, she was named to Forbes Magazine's "30 Under 30" list in Science and Healthcare, and in 2016, Fortune Magazine named her to the "40 Under 40" list of the most influential young people in business. She also co-founded Intellia Therapeutics Inc. and served as a Director there from May 2014 to November 2016.
Sri Ryali - Chief Financial Officer
Sri Ryali was appointed Chief Financial Officer of Caribou Biosciences, effective January 2, 2025. He is responsible for strategic leadership of the company's corporate finance, accounting, investor relations, and corporate communications functions. Prior to joining Caribou, he served as Chief Financial Officer of Codexis, Inc., a publicly traded enzyme engineering company, from January 2023 to October 2024. Previously, he was Chief Financial Officer of Eiger BioPharmaceuticals, Inc., a publicly traded, commercial-stage company, from December 2018 to January 2023. He also held roles of increasing responsibility, most recently as Vice President of Finance, at Aimmune Therapeutics, Inc., a publicly traded biopharmaceutical company that was subsequently acquired by Nestlé Health Science in 2020.
Barbara McClung, JD - Chief Legal Officer and Corporate Secretary
Barbara McClung serves as Chief Legal Officer and Corporate Secretary for Caribou Biosciences, a position she has held since April 2015. She oversees and manages all legal functions, including corporate and board governance, securities reporting, compliance, contracts, corporate transactions, employment law, and intellectual property strategy. Before joining Caribou, she was General Counsel and Corporate Secretary at Intarcia Therapeutics, Inc. and also at Cygnus, Inc. At Cygnus, Inc., she assisted in the negotiation and completion of the sale of the company's glucose monitoring assets to Animas Corporation/Animas Technologies LLC. She began her career as a patent attorney with E. I. du Pont de Nemours and Company, and later served as patent counsel for Chiron Corporation's vaccine division.
Tim Kelly - Chief Technology Officer
Tim Kelly is the Chief Technology Officer of Caribou Biosciences. He is responsible for the company's technical operations strategy and execution. He brings over 25 years of experience in global clinical and commercial product development, manufacturing, and supply chain operations in the biopharmaceutical and cell and gene therapy industries in the US and Europe.
Ruhi Khan - Chief Business Officer
Ruhi Khan serves as Chief Business Officer for Caribou Biosciences. She is responsible for developing and executing the company's business development strategy. She has over 20 years of business development and investment management experience focused on the biotechnology and pharmaceutical industries. Most recently, Ruhi was the founder of an advisory firm providing business development and finance advice to life sciences companies. In this role, she had extensive senior management experience as head of business development for several oncology-focused companies.
AI Analysis | Feedback
Key Risks to Caribou Biosciences (CRBU)
- Clinical Development and Regulatory Approval Risk: As a clinical-stage biopharmaceutical company, Caribou Biosciences faces the inherent and significant risk of its product candidates, such as CB-010, CB-011, CB-012, and CB-020, failing to demonstrate sufficient safety and efficacy in ongoing and future clinical trials. The success of clinical trials is a binary outcome, meaning the drug either works or it does not, and even promising early-phase data may not be predictive of later-stage trial results. Furthermore, obtaining the necessary regulatory approvals from agencies like the FDA is a lengthy, complex, and expensive process with no guarantee of success, and delays or failures in this process could significantly impede the company's ability to bring its therapies to market.
- Financial Health and Funding Risk: Caribou Biosciences has a history of significant operating losses and is expected to continue incurring losses as it advances its product pipeline through clinical development. While the company has extended its cash runway into the second half of 2027, this does not fully cover the substantial capital requirements needed to fund pivotal Phase 3 clinical trials, particularly for vispa-cel (CB-010). The failure to secure additional financing when needed could lead to delays or the inability to complete the development and potential commercialization of its critical product candidates. The company's financial health indicators, including a negative Altman Z-Score, suggest a potential risk of financial distress if funding is not adequately managed.
- Manufacturing and Allogeneic Cell Therapy Specific Challenges: The development and commercialization of allogeneic cell therapies involve complex manufacturing processes that can lead to production interruptions, quality control issues, and reliance on third-party contract manufacturing organizations (CMOs). These complexities can impact the company's ability to conduct clinical trials and, if successful, commercialize its products efficiently. Additionally, allogeneic cell therapies inherently carry the risk of immunological rejection, such as graft-versus-host disease (GVHD), due to differences in human leukocyte antigen (HLA) between donor and recipient. Overcoming these immune barriers often requires sophisticated genetic engineering or immunosuppressant therapies, which can introduce further risks and complexities to treatment efficacy and patient safety.
AI Analysis | Feedback
AI Analysis | Feedback
Caribou Biosciences (CRBU) is developing several genome-edited allogeneic cell therapies targeting significant addressable markets:
-
CB-010 for relapsed or refractory B cell non-Hodgkin lymphoma (B-NHL):
- The global B-cell lymphoma market size was valued at USD 5.08 billion in 2024 and is projected to reach USD 10 billion by 2034. North America held the largest share of this market in 2024.
- More specifically, the global non-Hodgkin lymphoma treatment market size was valued at USD 11.59 billion in 2025 and is projected to reach USD 19.44 billion by 2034. B-cell lymphoma is expected to account for a dominant share of this market, at 87.04% in 2026. North America held a market share of 49.35% in 2025.
- For the relapsed or refractory diffuse large B-cell lymphoma (a major subtype of B-NHL), the global market is estimated at USD 1.61 billion in 2025 and is expected to reach USD 2.16 billion in 2032. North America is estimated to hold a dominant position, with 39.1% of the market share in 2025.
-
CB-011 for relapsed or refractory multiple myeloma:
- The global multiple myeloma market size was estimated at USD 24.12 billion in 2025 and is forecast to reach USD 38.09 billion by 2031.
- Another estimate indicates the global multiple myeloma market size was USD 29.24 billion in 2025, projected to reach USD 49.79 billion by 2034. North America dominated this market with a 58.28% share in 2025.
- Specifically for the relapsed and refractory multiple myeloma treatment market, it was valued at US$23.0 billion in 2025 and is expected to reach US$31.5 billion by 2032. Across the top 7 major markets (US, EU4, UK, and Japan), this market reached USD 22.0 billion in 2024 and is expected to reach USD 37.3 billion by 2035.
-
CB-012 for relapsed or refractory acute myeloid leukemia:
- The global acute myeloid leukemia treatment market size was estimated at USD 3.47 billion in 2024 and is projected to reach USD 6.29 billion by 2030. North America held the largest share of this market, with 37.6% in 2024, and the U.S. market accounted for 90.9% of the North American market.
- Other estimates for the global acute myeloid leukemia treatment market size include USD 3.91 billion in 2025, projected to grow to USD 9.79 billion by 2034.
- The acute myeloid leukemia therapeutics market for second-line/relapsed treatments is forecast to rise at a 13.07% CAGR through 2031.
-
CB-020 for solid tumors:
- The global solid tumors market size was valued at USD 362.21 billion in 2024 and is projected to reach USD 1557.42 billion by 2032. North America currently dominates this market.
- Another report indicates the global solid tumor cancer treatment market size was USD 232.2 billion in 2024 and is expected to grow to USD 442.79 billion in 2029. North America was the largest region in this market in 2024.
- The global solid tumor therapeutics market is expected to grow from USD 207.29 billion in 2025 to USD 326.82 billion by 2031. North America maintained a 42.03% share in 2025.
AI Analysis | Feedback
For Caribou Biosciences (CRBU), a clinical-stage biopharmaceutical company, the expected drivers of future revenue growth over the next 2-3 years are primarily tied to the advancement of its genome-edited cell therapy pipeline and strategic partnerships.
- Progression of CB-010 (vispa-cel) towards pivotal trials: The successful advancement of CB-010, an allogeneic anti-CD19 CAR-T cell therapy for relapsed or refractory B cell non-Hodgkin lymphoma, through ongoing discussions with the FDA regarding pivotal trial design and the achievement of subsequent clinical and regulatory milestones, is a significant potential revenue driver. The company expects to provide further updates on Phase 1 data in 2026.
- Advancement of CB-011 (CaMMouflage) through clinical development: Progress in the Phase 1 CaMMouflage trial for CB-011, an allogeneic anti-BCMA CAR-T cell therapy for relapsed or refractory multiple myeloma, including the reporting of initial dose expansion data and longer follow-up on dose escalation data in 2026, is expected to drive future revenue.
- Establishment of new strategic collaborations and licensing agreements: Caribou Biosciences' current revenue is predominantly generated from licensing and collaboration agreements. Entering into new partnerships or expanding existing ones for its CRISPR technology or pipeline candidates could provide upfront payments, research funding, and milestone payments, thereby boosting revenue growth.
- Achievement of clinical development milestones from existing collaborations: As Caribou's pipeline programs, particularly CB-010 and CB-011, reach pre-defined clinical or regulatory milestones, this is expected to trigger payments from existing partners, contributing to the company's revenue stream. The increase in full year 2025 revenue was primarily attributed to a net increase in revenues related to prior licenses of the company's intellectual property to third parties.
AI Analysis | Feedback
Share Issuance
- In July 2021, Caribou Biosciences completed an initial public offering (IPO), issuing 19,000,000 shares of common stock at $16.00 per share, generating approximately $304.0 million in gross proceeds.
- The company completed a follow-on public offering in 2023, raising $134.4 million.
- Caribou Biosciences raised $25 million through a private placement with Pfizer.
Inbound Investments
- Pfizer made a $25.0 million equity investment in Caribou Biosciences, signifying a strategic stake.
- Caribou Biosciences reported licensing and collaboration revenue, which was $9.994 million in one period, though it decreased by $24.5 million from the previous year, primarily due to the termination of an agreement with AbbVie.
Outbound Investments
- In 2025, Caribou Biosciences recorded a non-recurring, non-cash impairment charge of $21.3 million related to an impairment of its stock investment in a private company.
Capital Expenditures
- For a recent 12-month period, Caribou Biosciences reported capital expenditures of approximately $1.36 million.
- The company's strategic pipeline prioritization and workforce reduction initiatives announced in April 2025 were intended to extend its cash runway into the second half of 2027, implicitly optimizing capital deployment.
- Future capital expenditures are anticipated to include significant funding for the planned vispa-cel pivotal trial, which will require a new funding strategy.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Caribou Biosciences Earnings Notes | 12/16/2025 | |
| Would You Still Hold Caribou Biosciences Stock If It Fell Another 30%? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.18 |
| Mkt Cap | 1.2 |
| Rev LTM | 25 |
| Op Inc LTM | -280 |
| FCF LTM | -252 |
| FCF 3Y Avg | -240 |
| CFO LTM | -252 |
| CFO 3Y Avg | -232 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.0% |
| Rev Chg 3Y Avg | 23.4% |
| Rev Chg Q | -3.8% |
| QoQ Delta Rev Chg LTM | -1.0% |
| Op Inc Chg LTM | 24.0% |
| Op Inc Chg 3Y Avg | -2.3% |
| Op Mgn LTM | -636.6% |
| Op Mgn 3Y Avg | -935.8% |
| QoQ Delta Op Mgn LTM | 31.5% |
| CFO/Rev LTM | -549.5% |
| CFO/Rev 3Y Avg | -715.9% |
| FCF/Rev LTM | -550.2% |
| FCF/Rev 3Y Avg | -727.1% |
Price Behavior
| Market Price | $1.64 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 07/23/2021 | |
| Distance from 52W High | -42.3% | |
| 50 Days | 200 Days | |
| DMA Price | $2.02 | $1.94 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -18.9% | -15.5% |
| 3M | 1YR | |
| Volatility | 68.3% | 82.0% |
| Downside Capture | 339.38 | 315.29 |
| Upside Capture | 137.56 | 260.39 |
| Correlation (SPY) | 50.8% | 38.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.76 | 2.39 | 2.29 | 2.40 | 2.65 | 1.83 |
| Up Beta | -0.65 | 2.48 | 2.95 | 3.12 | 2.04 | 1.75 |
| Down Beta | 2.50 | 0.94 | 1.00 | 0.96 | 2.94 | 1.65 |
| Up Capture | 358% | 217% | 282% | 362% | 751% | 543% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 12 | 22 | 31 | 59 | 121 | 335 |
| Down Capture | 111% | 349% | 216% | 213% | 180% | 113% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 5 | 15 | 28 | 58 | 117 | 384 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CRBU | |
|---|---|---|---|---|
| CRBU | 39.5% | 82.6% | 0.76 | - |
| Sector ETF (XLV) | 14.0% | 15.0% | 0.66 | 28.6% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 38.1% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 19.8% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -2.2% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 17.7% |
| Bitcoin (BTCUSD) | -40.0% | 42.5% | -1.08 | 22.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CRBU | |
|---|---|---|---|---|
| CRBU | -37.0% | 86.7% | -0.16 | - |
| Sector ETF (XLV) | 5.4% | 14.7% | 0.19 | 28.5% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 36.7% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 9.1% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 3.5% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 29.9% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 22.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CRBU | |
|---|---|---|---|---|
| CRBU | -20.7% | 86.7% | -0.16 | - |
| Sector ETF (XLV) | 9.4% | 16.6% | 0.46 | 28.5% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 36.7% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 9.1% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 3.5% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 29.9% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 22.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/18/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 3.2% | 13.8% | -2.1% |
| 3/5/2026 | 6.4% | 10.5% | 14.0% |
| 11/12/2025 | -12.2% | -19.5% | -24.3% |
| 8/12/2025 | 8.9% | -1.1% | 6.7% |
| 5/8/2025 | -2.0% | 6.3% | 60.8% |
| 3/10/2025 | -3.2% | -7.7% | -28.5% |
| 11/6/2024 | 1.1% | -20.0% | -22.5% |
| 8/6/2024 | -2.8% | -4.9% | -6.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 7 |
| # Negative | 9 | 10 | 13 |
| Median Positive | 6.4% | 7.4% | 24.7% |
| Median Negative | -5.0% | -8.1% | -15.7% |
| Max Positive | 14.3% | 46.0% | 60.8% |
| Max Negative | -30.5% | -27.6% | -44.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 3.2% | 13.8% | -2.1% |
| 3/5/2026 | 6.4% | 10.5% | 14.0% |
| 11/12/2025 | -12.2% | -19.5% | -24.3% |
| 8/12/2025 | 8.9% | -1.1% | 6.7% |
| 5/8/2025 | -2.0% | 6.3% | 60.8% |
| 3/10/2025 | -3.2% | -7.7% | -28.5% |
| 11/6/2024 | 1.1% | -20.0% | -22.5% |
| 8/6/2024 | -2.8% | -4.9% | -6.4% |
| 5/7/2024 | -6.2% | -2.4% | -44.0% |
| 3/11/2024 | -30.5% | -27.6% | -39.8% |
| 11/7/2023 | -5.0% | -11.5% | 24.7% |
| 8/8/2023 | 5.8% | 0.6% | -11.5% |
| 5/9/2023 | 6.8% | -3.4% | 1.6% |
| 3/9/2023 | -6.0% | -8.5% | -12.2% |
| 11/8/2022 | 0.8% | 8.5% | -0.6% |
| 8/9/2022 | 14.3% | 32.1% | 46.1% |
| 5/9/2022 | 9.3% | 46.0% | 36.0% |
| 3/21/2022 | 9.5% | 2.1% | -10.4% |
| 11/9/2021 | -1.9% | 1.7% | -15.7% |
| 9/2/2021 | 5.2% | 1.3% | -22.1% |
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 7 |
| # Negative | 9 | 10 | 13 |
| Median Positive | 6.4% | 7.4% | 24.7% |
| Median Negative | -5.0% | -8.1% | -15.7% |
| Max Positive | 14.3% | 46.0% | 60.8% |
| Max Negative | -30.5% | -27.6% | -44.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/05/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/10/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/11/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/09/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/05/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/10/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/11/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/09/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 03/21/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 09/02/2021 | 10-Q |
| 03/31/2021 | 07/19/2021 | S-1/A |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | 2,028 | ||||||
Prior: Q4 2025 Earnings Reported 3/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | |||||||
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kelly, Timothy P | Chief Technology Officer | Direct | Sell | 2272026 | 1.93 | 6,228 | 12,020 | 141,131 | Form |
| 2 | Kelly, Timothy P | Chief Technology Officer | Direct | Sell | 2242026 | 1.96 | 3,147 | 6,168 | 155,532 | Form |
| 3 | McClung, Barbara G | Chief Legal Officer | Direct | Sell | 2242026 | 1.96 | 6,938 | 13,598 | 943,865 | Form |
| 4 | Khan, Ruhi Ahmad | Chief Business Officer | Direct | Sell | 2242026 | 1.96 | 6,938 | 13,598 | 205,796 | Form |
| 5 | Albertson, Tina M | Chief Medical Officer | Direct | Sell | 2242026 | 1.96 | 1,066 | 2,089 | 134,305 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kelly, Timothy P | Chief Technology Officer | Direct | Sell | 2272026 | 1.93 | 6,228 | 12,020 | 141,131 | Form |
| 2 | Kelly, Timothy P | Chief Technology Officer | Direct | Sell | 2242026 | 1.96 | 3,147 | 6,168 | 155,532 | Form |
| 3 | McClung, Barbara G | Chief Legal Officer | Direct | Sell | 2242026 | 1.96 | 6,938 | 13,598 | 943,865 | Form |
| 4 | Khan, Ruhi Ahmad | Chief Business Officer | Direct | Sell | 2242026 | 1.96 | 6,938 | 13,598 | 205,796 | Form |
| 5 | Albertson, Tina M | Chief Medical Officer | Direct | Sell | 2242026 | 1.96 | 1,066 | 2,089 | 134,305 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.