Lawsuit filed for Investors who lost money with shares of Caribou Biosciences, Inc. (NASDAQ: CRBU)

An investor, who purchased shares of Caribou Biosciences, Inc. (NASDAQ: CRBU), filed a lawsuit over alleged violations of Federal Securities Laws by Caribou Biosciences, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Caribou Biosciences, Inc. (NASDAQ: CRBU) have certain options and for certain investors are short and strict deadlines running. Deadline: February 24, 2025. NASDAQ: CRBU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Berkley, CA based Caribou Biosciences, Inc. is a clinical-stage biopharmaceutical company that purports to develop genome-edited allogeneic cell therapies for the treatment of hematologic malignancies in the U.S. and internationally. The Company's pipeline includes allogeneic, or "off-the-shelf," cell therapies from its chimeric antigen receptor ("CAR") -T ("CAR-T") cell and CAR-natural killer ("CAR-NK") cell platforms. Allogeneic cell therapies are referred to as "off-the-shelf" because they use cells that have already been collected from a donor, and which were modified, multiplied, and stored in a facility, before being infused into a patient. According to the Company, this affords allogeneic cell therapies numerous advantages over their autologous counterparts, which rely on extracting, modifying, and multiplying a patient's own cells before being infused back into that same patient.
Caribou Biosciences, Inc's lead product candidate is CB-010, an allogeneic anti-CD19 CAR-T cell therapy that the Company is evaluating in patients with, inter alia, relapsed or refractory large B cell non-Hodgkin lymphoma ("r/r B-NHL") in the Company's ongoing ANTLER Phase 1 clinical trial, with a focus on second-line large B cell lymphoma ("LBCL").

Caribou Biosciences, Inc. reported that its annual Total Revenue rose from $13.85 million in 2022 to $34.47 million in 2023, and that its Net Loss increased from $99.42 million in 2022 to $102.07 million in 2023.

On June 2, 2024, Caribou Biosciences, Inc. announced that it had "presented updated clinical data from the ongoing ANTLER Phase 1 trial that [purportedly] indicates a single dose of CB-010 . . . has the potential to rival the safety, efficacy, and durability of approved autologous CAR-T cell therapies."

The next day, Evercore ISI ("Evercore") analysts downgraded Caribou Biosciences, Inc. (NASDAQ: CRBU) stock to "in line" and dropped their price target to $3.00 from $13.00, stating that they were "not yet convinced" that Caribou's therapy "will be competitive and wait on the sidelines until data in 1H 2025." In particular, the Evercore analysts stated, inter alia, that "[o]verall, efficacy of CB-010 in 2L [second-line] LBCL is not competitive vs autologous CAR-T with lower response rate and much shorter PFS [progression-free survival]", while also noting additional risks related to CB-010's safety and competition.

Shares of Caribou Biosciences, Inc. (NASDAQ: CRBU) declined from $8.33 per share on February 28, 2024, to as low as $1.50 per share in July 2024.

The plaintiff claims that between July 14, 2023 and July 16, 2024, the defendants made false statements and/or concealed that they had overstated CB-010's safety, efficacy, and durability relative to approved autologous CAR-T cell therapies in treating patients with r/r B-NHL and/or LBCL, as well as CB-010's overall clinical results and commercial prospects, that Caribou was at significant risk of having insufficient cash, liquidity, and/or other capital to fund its current business operations, including preclinical research activities associated with the allogeneic CAR-NK platform, that all the foregoing was likely to have a significant negative impact on Caribou's business and operations, and that as a result, defendants' public statements were materially false and misleading at all relevant times.

Those who purchased shares of Caribou Biosciences, Inc. (NASDAQ: CRBU) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.