Caribou Biosciences (CRBU) investor relations material

Executive summary

• Focused on developing allogeneic CAR-T cell therapies using proprietary chRDNA genome-editing technology for hematologic malignancies.

• Two lead clinical-stage programs: vispa-cel (anti-CD19) and CB-011 (anti-BCMA), both with FDA designations and promising early clinical results.

• Presented positive phase 1 data for vispa-cel in 2L LBCL and CB-011 in r/r MM at EHA 2026, showing efficacy and safety comparable to approved autologous CAR-T therapies.

• Off-the-shelf CAR-T approach aims to expand patient access, with pivotal phase 3 trial for vispa-cel and dose expansion for CB-011 planned.

• No products approved for sale; revenue derived from licensing and collaboration agreements.

Financial highlights

• Revenue for Q2 2026 was $1.5M, down from $2.7M in Q2 2025; six-month revenue was $3.9M, down from $5.0M year-over-year.

• Net loss for Q2 2026 was $24.3M ($0.24/share), improved from $54.1M ($0.58/share) in Q2 2025; six-month net loss was $49.4M, improved from $94.1M year-over-year.

• Operating expenses for Q2 2026 were $26.8M, down from $50.2M in Q2 2025, reflecting lower R&D and G&A costs and no impairment charges.

• Cash, cash equivalents, and marketable securities totaled $113.8M as of June 30, 2026, down from $142.8M at year-end 2025.

• R&D expenses decreased to $18.9M and G&A expenses to $7.9M year-over-year, mainly due to reduced workforce and lower personnel and legal costs.

Outlook and guidance

• Cash reserves expected to fund operations, including CB-011 dose expansion and ANTLER-3 trial start-up, through end of 2027.

• Anticipates increased expenses as clinical trials progress, especially for the pivotal phase 3 trial of vispa-cel.

• Initial dose expansion data for CB-011 and longer follow-up for the 12-patient RDE cohort expected in H2 2026.

• Exploring options to fully fund the pivotal ANTLER-3 phase 3 trial.

• Continued reliance on equity and licensing to fund operations until product commercialization.