CRBU Caribou Biosciences, Inc.
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Executive Summary
Caribou Biosciences announced long-term follow-up data from its ANTLER phase 1 (vispa-cel, anti-CD19) and CaMMouflage phase 1 (CB-011, anti-BCMA) trials at the EHA 2026 meeting. For vispa-cel in 2L LBCL (pivotal subgroup, N=27): 82% ORR, 67% CR, 17.1-month mPFS. For CB-011 in r/r MM (BCMA-naïve RDE cohort, N=12): 92% ORR, 83% CR, 91% MRD negativity. Both assets showed manageable safety profiles. The company also reiterated FDA alignment on the design of the ANTLER-3 pivotal phase 3 trial for vispa-cel. This data update is a notable but incremental catalyst for this pre-revenue clinical-stage biotech—positive efficacy readouts but from small, single-arm cohorts without financial guidance.
Actionable Insight
The vispa-cel 2L LBCL data (82% ORR, 17.1-month mPFS) strengthen the case for the pivotal ANTLER-3 phase 3 trial, which targets an underserved patient population. The CB-011 MM data (83% CR, early signal in BCMA-exposed patient) de-risks the dose expansion readout expected in H2 2026. Monitor for initial CB-011 dose expansion data in BCMA-naïve and -exposed patients in late 2026, which will be the next meaningful catalyst. Cash runway and ability to fully fund ANTLER-3 remain key risks not addressed in this filing.
Key Facts
- Vispa-cel in 2L LBCL (pivotal optimized subgroup, N=27): 82% ORR, 67% CR rate, 17.1-month median PFS
- CB-011 in BCMA-naïve r/r MM at RDE (N=12): 92% ORR, 83% CR rate, 91% MRD negativity in 10/11 evaluable, 50% in CR at 15 months
- CB-011 case study: 71-yo male with 8 prior lines (including autologous CAR-T) achieved CR at day 28, ongoing
- No GvHD or Gr≥3 ICANS in both pivotal optimized vispa-cel subgroup (N=27) and CB-011 RDE cohort (N=12)
- FDA alignment reached on ANTLER-3 phase 3 design (~250 patients, 2L LBCL not eligible for transplant/auto-CAR-T, PFS primary endpoint)
- Initial dose expansion data for CB-011 in BCMA-naïve and -exposed patients expected H2 2026
Financial Impact
No revenue; company is pre-commercial. Data update supports pipeline valuation for vispa-cel and CB-011, two allogeneic CAR-T candidates with FDA RMAT, Fast Track, and Orphan Drug designations.
Risk Factors
- Company has a history of net operating losses and needs additional capital to fund operations and the ANTLER-3 phase 3 trial
- Phase 1 data from small single-arm cohorts may not be predictive of phase 3 outcomes or regulatory approval
- Two treatment-related deaths reported across both trials (one vispa-cel-related IEC-HS, one CB-011-related hematotoxicity)
- Pre-revenue biotech with high cash burn and dilutive financing risk
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001619856-26-000043 |
| Document: crbu-20260611xexx992.htm | 0001619856-26-000043 |
| Document: crbu-20260611xexx991.htm | 0001619856-26-000043 |
| Document: 0001619856-26-000043-index-headers.html | 0001619856-26-000043 |
| Document: 0001619856-26-000043-index.html | 0001619856-26-000043 |
| Document: 0001619856-26-000043.txt | 0001619856-26-000043 |
Track record builds as more directional reports settle.
Filters
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Jun 11, 2026
7d ago
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8-K
| $1.66 $1.64 | ▼ −1.20% | ▼ −1.64% | $1.64 (−1.20%) |
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Jun 11, 2026
7d ago
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Press Release
| $1.66 $1.64 | ▼ −1.20% | ▼ −1.64% | $1.64 (−1.20%) |
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Jun 5, 2026
13d ago
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DEFA14A
| $1.84 $1.66 | ▼ −9.78% | ▼ −11.89% | $1.64 (−10.87%) |
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Apr 24, 2026
7w ago
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DEFA14A
| $2.13 $1.91 | ▼ −10.33% | ▼ −10.73% | $1.64 (−23.00%) |
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Mar 5, 2026
15w ago
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8-K
| $1.82 $1.88 | ▲ +3.30% | ▲ +4.83% | $1.64 (−9.89%) |
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Mar 5, 2026
15w ago
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Press Release
| $1.82 $1.88 | ▲ +3.30% | ▲ +4.83% | $1.64 (−9.89%) |
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Feb 28, 2026
15w ago
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Institutional Cluster
| $1.84 $1.97 | ▲ +7.07% | ▲ +8.27% | $1.64 (−10.87%) |
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Feb 24, 2026
16w ago
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Insider Cluster
| $2.14 $1.76 | ▼ −17.76% | ▼ −16.73% | $1.64 (−23.36%) |
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Feb 24, 2026
16w ago
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Insider Cluster
| $2.14 $1.76 | ▼ −17.76% | ▼ −16.73% | $1.64 (−23.36%) |
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Feb 24, 2026
16w ago
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Insider Cluster
| $2.14 $1.76 | ▼ −17.76% | ▼ −16.73% | $1.64 (−23.36%) |
US Market Status
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