Caribou Biosciences 2025 Q2 Earnings Widening Losses Amid Clinical Progress

Caribou Biosciences (CRBU) reported its fiscal 2025 Q2 earnings on August 12, 2025. The results reflected continued financial challenges despite ongoing clinical advancements. The stock price showed mixed short-term movement, with gains on the day and month, but a sharp weekly decline.

Caribou Biosciences delivered results that missed expectations, with a 23.0% year-over-year decline in total revenue to $2.67 million in Q2 2025, compared to $3.46 million in Q2 2024. The company's net loss expanded to $54.10 million, or $0.58 per share, from a loss of $37.70 million, or $0.42 per share, in the prior-year period. The company has now posted losses for the sixth consecutive year in this quarter, highlighting ongoing financial pressures.

Revenue in the quarter was primarily driven by licensing and collaboration income, with $622,000 coming from its related party, Pfizer, and $2.04 million from other licensees. Together, these segments accounted for the total licensing and collaboration revenue of $2.67 million.

The company's losses widened significantly, with the net loss increasing by 43.5% year-over-year, and the EPS loss growing by 38.1%. This indicates a deteriorating financial performance, despite continued investment in key programs.

Following the earnings release, Caribou Biosciences shares were volatile, climbing 4.68% on the day, but falling 12.25% during the week. However, the stock rose 9.82% month-to-date. A post-earnings strategy of buying shares after a revenue increase proved ineffective, delivering a -85.87% return over the past three years, significantly underperforming the 46.32% benchmark return.

Caribou Biosciences reported a -85.87% return over the past three years for the post-earnings strategy, significantly underperforming the benchmark, indicating poor market performance despite the company's progress in clinical trials.

CEO Commentary

Rachel Haurwitz, PhD, President and CEO, emphasized Caribou's focus on advancing its allogeneic CAR-T cell programs, CB-010 and CB-011, which have shown encouraging Phase 1 results in large B cell lymphoma and multiple myeloma. She noted the potential for rapid treatment and broad patient access, with robust datasets from both programs expected in H2 2025. The CEO expressed optimism about the insights these data could provide into the future of allogeneic therapies and the design of potential pivotal trials following alignment with the FDA.

Guidance

Caribou expects to report robust clinical datasets from its CB-010 and CB-011 programs in H2 2025, including initial safety and efficacy data with extended follow-up. The company anticipates presenting pivotal trial design for CB-010 post-FDA alignment and dose escalation data for CB-011. Financially, Caribou expects its $183.9 million in cash, cash equivalents, and marketable securities as of June 30, 2025, to fund operations into H2 2027.

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