CRBU - Caribou Biosciences down 23% on stock offering lymphoma data

2023-07-14 14:12:48 ET

• Caribou Biosciences is down 23% in Friday trading after announcing following Thursday's closing bell a $125M stock offering and phase 1 data on a non-Hodgkin's lymphoma CAR-T candidate.
• The offering was upsized to $150M from $125M. It was priced late Thursday evening at $6.50 per share .
• Caribou Thursday also released promising data from the dose-escalation phase of a phase 1 trial on allogeneic anti-CD19 CAR-T cell therapy.
• One peculiarity in the data, pointed out by Evalute Vantage's Jacob Plieth , was that some patients are still relapsing despite receiving a higher dose. In three patients given 120M cells -- compared to 80M and 40M in other patients -- there was one non-responder, with two remissions lasting less than three months.
• Seeking Alpha's Quant Rating just upgraded Caribou ( NASDAQ: CRBU ) to buy on July 12.

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