A securities class action has been filed in the USDC — N.D.CA. against Caribou Biosciences, Inc. (CRBU) (“Caribou” or the “Company”), on behalf of all those that purchased or otherwise acquired Caribou securities between July 14, 2023, and July 16, 2024, both dates inclusive (the “Class Period”).
Caribou 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 CAR-T cell and 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’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, r/r B-NHL in the Company’s ongoing ANTLER Phase 1 clinical trial, with a focus on second-line LBCL.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:
(1) 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;
(2) 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;
(3) all the foregoing was likely to have a significant negative impact on Caribou’s business and operations; and (iv) as a result, Defendants’ public statements were materially false and misleading at all relevant times, thereby harming investors.
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