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, with two clinical-stage candidates: vispa-cel (anti-CD19) and CB-011 (anti-BCMA).

• Achieved FDA alignment on pivotal ANTLER-3 phase 3 trial design for vispa-cel in second-line large B cell lymphoma (2L LBCL).

• CB-011 received RMAT designation from FDA for relapsed/refractory multiple myeloma (r/r MM) based on strong initial clinical data.

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

• Longer follow-up data for vispa-cel phase 1 and CB-011 dose escalation/expansion expected in 2026.

Financial highlights

• Revenue was $2.4 million for Q1 2026, nearly flat year-over-year.

• Net loss for Q1 2026 was $25.2 million, an improvement from $40.1 million in Q1 2025.

• Research and development expenses decreased to $20.6 million from $35.5 million year-over-year, mainly due to reduced CRO/CMO activities and workforce reduction.

• General and administrative expenses fell to $8.1 million from $9.7 million year-over-year.

• Cash, cash equivalents, and marketable securities totaled $118.6 million as of March 31, 2026.

Outlook and guidance

• Cash and equivalents expected to fund operations for at least the next 12 months and potentially into 2H 2027.

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

• Ongoing need for additional capital through equity, debt, or licensing arrangements until product commercialization.

• Exploring multiple options to fully fund the planned vispa-cel pivotal trial.

• Longer follow-up data for vispa-cel and CB-011 clinical trials anticipated in 2026.