Caribou achieved FDA alignment on the pivotal ANTLER-3 trial design for vispa-cel and secured RMAT designation for CB-011 with strong early response rates (May 2026). With $118.6 million in cash as of March 31, 2026, the company's runway extends through at least 12 months of operations while exploring funding options for the vispa-cel pivotal trial.
Cyborg Score Rationale
Caribou demonstrates clinical progress with pivotal-ready programs and recent regulatory wins, offset by cash constraints and dependence on external funding for large-scale trials. Revenue is minimal ($11.2M in FY2025), losses are significant, and cash runway extends only into 2H 2027, creating near-term financing pressure.
Top Insights
FDA granted RMAT designation to CB-011 for relapsed/refractory multiple myeloma in 2026, with 92% overall response rate and 75% complete response in early clinical data
Net loss narrowed from $40.0 million (Q1 2025) to $25.1 million (Q1 2026), and operating cash use declined to $27.0 million
2026 revenue forecast increased to $33.5 million, with per-share losses expected to reduce from -$1.33 to -$1.24
Stock price rose 13% over the past week and 148% over the past year
Named Competitors
Juno Therapeutics CAR-T — Established allogeneic CAR-T cell therapy
Autolus Therapeutics — Allogeneic CAR-T developer with multiple programs