Caribou Biosciences, Inc.

Listed Company

CRBUCIK 0001619856NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$11.16M

Net Income

$-148.10M

Total Assets

$175.37M

Equity

$122.17M

Shares Out

96.64M

Op. Cash Flow

$-111.00M

Business

Caribou Biosciences, Inc. is a clinical-stage CRISPR genome‑editing biopharmaceutical company developing transformative allogeneic cell therapies. It develops allogeneic CAR‑T cell therapy product candidates and in vivo genome‑editing capabilities using its proprietary chRDNA hybrid RNA‑DNA guide technology paired with Cas9 and Cas12a. Its business is organized around a CAR‑T platform and pipeline of clinical programs, notably CB-010, CB-011, and CB-012, that employ armoring strategies such as PD‑1 knockout and immune cloaking. The company conducts multicenter clinical trials in the United States, Australia, and Israel and uses contract manufacturers to supply off‑the‑shelf products for administration in academic and community hospitals.

Summary from filing dated 2025-03-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Licensing and collaboration revenue (including $2,487 and $4,110 for years ended December 31, 2025, and December 31, 2024, respectively, from related parties)	11	10	34	14	10
Research and development	109	130	112	82	52
General and administrative	38	46	38	38	24
Impairment charges	12	0	—	—	—
Total operating expenses	160	177	151	120	77
Loss from operations	−148	−167	−116	−106	−67
Impairment Of Equity Method Investment	−9	0	—	—	—
Other income, net	9	18	15	5	219,000
Total other (expense) income	−331,000	18	14	7	377,000
Net loss before benefit from income taxes	−149	−149	−102	−99	−67
Benefit from income taxes	−550,000	−9,000	193,000	70,000	321,000
Net loss	−148	−149	−102	−99	−67
Net unrealized (loss) gain on available-for-sale marketable securities, net of tax	−152,000	225,000	2	−1	−135,000
Net comprehensive loss	−148	−149	−101	−101	−67
Net loss per share, basic (in dollars per share)	−1.59	−1.65	−1.38	−1.64	−2.11
Net loss per share, diluted (in dollars per share)	−1.59	−1.65	−1.38	−1.64	−2.11
Weighted average common shares outstanding, basic (in shares)	93	90	74	61	32
Weighted average common shares outstanding, diluted (in shares)	93	90	74	61	32

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	12	16	51	58	240
Marketable securities, short-term	127	193	278	189	135
Accounts receivable	69,000	265,000	148,000	202,000	1
Contract assets	1	1	1	2	1
Other receivables	2	2	2	2	5
Prepaid expenses and other current assets	3	7	6	8	7
Total current assets	145	219	339	260	391
Equity Method Investments	0	9	8	8	8
Marketable securities, long-term	4	40	44	69	38
Property and equipment, net	7	19	18	11	5
Operating lease, right of use assets	18	20	22	24	0
Other assets	2	6	2	2	975,000
TOTAL ASSETS	175	313	432	374	442
Accounts payable	6	2	3	1	4
Accrued expenses and other current liabilities	17	24	21	16	13
Operating lease liabilities, current	1	1	1	966,000	0
Deferred revenue ($0 and $2,487 from related party as of December 31, 2025, and December 31, 2024, respectively)	2	3	3	10	9
Total current liabilities	25	31	28	28	26
Deferred revenue, net of current portion ($0 and $1,243 from related party as of December 31, 2025, and December 31, 2024, respectively)	2	3	6	16	22
MSKCC success payments liability	0	785,000	3	2	4
Operating lease liabilities, non-current	26	25	26	27	0
Deferred tax liabilities	0	548,000	557,000	381,000	476,000
Total liabilities	53	60	64	73	55
COMMITMENTS AND CONTINGENCIES (Note 9)	—	—	—	—	—
Common stock, par value $0.0001 per share, 300,000,000 shares authorized at December 31, 2025, and December 31, 2024; 95,143,690 and 92,378,577 shares issued and outstanding at December 31, 2025, and December 31, 2024, respectively	9,000	9,000	8,000	6,000	6,000
Additional paid-in-capital	719	701	668	500	486
Accumulated other comprehensive income	103,000	255,000	30,000	−2	−135,000
Accumulated deficit	−597	−448	−299	−197	−98
Total stockholders equity	122	253	368	301	388
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	175	313	432	374	442

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−148	−149	−102	−99	−67
Depreciation and amortization	4	4	4	2	984,000
Gain on disposal of fixed assets	−25,000	−9,000	−34,000	0	4,000
Non-cash consideration for licensing and collaboration revenue	−9,000	−2	−61,000	−205,000	0
Change in fair value of equity securities	99,000	111,000	6,000	—	—
Stock-based compensation expense	13	17	14	12	3
Change in fair value of MSKCC success payments liability	−785,000	−2	—	—	—
Acquired in-process research and development	0	2	0	600,000	1
Accretion of discounts on investments in marketable securities, net	−1	−5	−4	−797,000	52,000
Non-cash lease expense	2	2	2	2	0
Accounts receivable	196,000	−117,000	54,000	951,000	−1
Contract assets	152,000	267,000	822,000	−759,000	−160,000
Other receivables	−76,000	458,000	−71,000	3	−2
Prepaid expenses and other current assets	4	−433,000	2	−975,000	−4
Other assets	3	−4	−48,000	−564,000	−316,000
Accounts payable	3	−354,000	2	−3	1
Accrued expenses and other current liabilities	−6	2	6	2	4
Deferred revenue, current and long-term	−3	−3	−17	−5	30
Operating lease liabilities	−1	−621,000	−637,000	−403,000	0
Deferred tax liabilities	−548,000	−10,000	177,000	−95,000	321,000
Net cash used in operating activities	−111	−138	−93	−91	−33
Proceeds from maturities of marketable securities	253	397	338	253	—
Purchases of marketable securities	−149	−304	−395	−339	−173
Purchases of property and equipment	−1	−5	−12	−6	−2
Proceeds from sale of property and equipment	0	13,000	0	—	—
Payments to acquire in-process research and development	0	−2	0	−600,000	−1
Net cash provided by investing activities	102	87	−68	−93	−176
Proceeds from exercise of stock options	6,000	618,000	2	2	3
Proceeds from issuances of common stock under ESPP	745,000	914,000	0	—	—
Proceeds from issuances of common stock related to ATM, net of offering expenses	4	15	1	0	—
Net cash provided by financing activities	5	17	154	2	433
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	−4	−35	−7	−182	225
Purchases of property and equipment included in accounts payable and accrued expenses	60,000	754,000	692,000	1	265,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	2	0	0	26	0

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