Caribou Biosciences (CRBU, Financial) has unveiled a strategic pipeline reorganization aimed at concentrating its resources on key oncology programs, CB-010 and CB-011. Alongside this refocus, the company is implementing cost-cutting measures, including workforce reductions of about 32%.
The biotech firm will halt the GALLOP Phase 1 trial of CB-010 for lupus and the AMpLify Phase 1 trial of CB-012 for relapsed or refractory acute myeloid leukemia, citing the need for further data that would divert attention and funding from its prioritized cancer therapies. While new enrollments in these trials are discontinued, patients previously treated in the AMpLify trial will still be monitored under a long-term follow-up study.
By ceasing preclinical research and reallocating resources, Caribou anticipates improving its financial position. The strategic measures are projected to extend the company's cash reserve, ensuring operational funding until the second half of 2027, a year longer than previously expected. The associated reduction in force and strategy shifts will result in cash expenses ranging from $2.5 million to $3.5 million.
Caribou plans to disclose clinical data for its lead oncology programs, CB-010 and CB-011, in the latter half of 2025, signaling a clear commitment to advancing these promising therapeutic candidates. This realignment reflects Caribou's dedication to concentrating efforts on its most promising avenues in oncology treatment.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Caribou Biosciences Inc (CRBU, Financial) is $12.88 with a high estimate of $34.00 and a low estimate of $3.00. The average target implies an upside of 1,375.48% from the current price of $0.87. More detailed estimate data can be found on the Caribou Biosciences Inc (CRBU) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Caribou Biosciences Inc's (CRBU, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Caribou Biosciences Inc (CRBU, Financial) in one year is $1.63, suggesting a upside of 86.8% from the current price of $0.8726. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Caribou Biosciences Inc (CRBU) Summary page.
