The vispa-cel 2L LBCL data (82% ORR, 17.1-month mPFS) strengthen the case for the pivotal ANTLER-3 phase 3 trial, which targets an underserved patient population. The CB-011 MM data (83% CR, early signal in BCMA-exposed patient) de-risks the dose expansion readout expected in H2 2026. Monitor for initial CB-011 dose expansion data in BCMA-naïve and -exposed patients in late 2026, which will be the next meaningful catalyst. Cash runway and ability to fully fund ANTLER-3 remain key risks not addressed in this filing.
Price Chart
Executive Summary
Caribou Biosciences announced long-term follow-up data from its ANTLER phase 1 (vispa-cel, anti-CD19) and CaMMouflage phase 1 (CB-011, anti-BCMA) trials at the EHA 2026 meeting. For vispa-cel in 2L LBCL (pivotal subgroup, N=27): 82% ORR, 67% CR, 17.1-month mPFS. For CB-011 in r/r MM (BCMA-naïve RDE cohort, N=12): 92% ORR, 83% CR, 91% MRD negativity. Both assets showed manageable safety profiles. The company also reiterated FDA alignment on the design of the ANTLER-3 pivotal phase 3 trial for vispa-cel. This data update is a notable but incremental catalyst for this pre-revenue clinical-stage biotech—positive efficacy readouts but from small, single-arm cohorts without financial guidance.
Key Facts
- Vispa-cel in 2L LBCL (pivotal optimized subgroup, N=27): 82% ORR, 67% CR rate, 17.1-month median PFS
- CB-011 in BCMA-naïve r/r MM at RDE (N=12): 92% ORR, 83% CR rate, 91% MRD negativity in 10/11 evaluable, 50% in CR at 15 months
- CB-011 case study: 71-yo male with 8 prior lines (including autologous CAR-T) achieved CR at day 28, ongoing
- No GvHD or Gr≥3 ICANS in both pivotal optimized vispa-cel subgroup (N=27) and CB-011 RDE cohort (N=12)
- FDA alignment reached on ANTLER-3 phase 3 design (~250 patients, 2L LBCL not eligible for transplant/auto-CAR-T, PFS primary endpoint)
- Initial dose expansion data for CB-011 in BCMA-naïve and -exposed patients expected H2 2026
Financial Impact
No revenue; company is pre-commercial. Data update supports pipeline valuation for vispa-cel and CB-011, two allogeneic CAR-T candidates with FDA RMAT, Fast Track, and Orphan Drug designations.
Risk Factors
- Company has a history of net operating losses and needs additional capital to fund operations and the ANTLER-3 phase 3 trial
- Phase 1 data from small single-arm cohorts may not be predictive of phase 3 outcomes or regulatory approval
- Two treatment-related deaths reported across both trials (one vispa-cel-related IEC-HS, one CB-011-related hematotoxicity)
- Pre-revenue biotech with high cash burn and dilutive financing risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001619856-26-000043 |
| Document: crbu-20260611xexx992.htm | 0001619856-26-000043 |
| Document: crbu-20260611xexx991.htm | 0001619856-26-000043 |
| Document: 0001619856-26-000043-index-headers.html | 0001619856-26-000043 |
| Document: 0001619856-26-000043-index.html | 0001619856-26-000043 |
| Document: 0001619856-26-000043.txt | 0001619856-26-000043 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 11, 2026 16w ago | 8-K | $1.66 $1.94 | ▲ +16.87% | ▲ +14.98% | $1.23 (−26.20%) |
Jun 11, 2026 16w ago | Press Release | $1.66 $1.94 | ▲ +16.87% | ▲ +14.98% | $1.23 (−26.20%) |
Jun 5, 2026 16w ago | DEFA14A | $1.84 $1.83 | ▼ −0.54% | ▼ −2.17% | $1.23 (−33.42%) |
Apr 24, 2026 22w ago | DEFA14A | $2.13 $2.16 | ▲ +1.41% | ▼ −3.55% | $1.23 (−42.49%) |
Mar 5, 2026 30w ago | 8-K | $1.82 $1.95 | ▲ +7.14% | ▲ +9.19% | $1.23 (−32.69%) |
Mar 5, 2026 30w ago | Press Release | $1.82 $1.95 | ▲ +7.14% | ▲ +9.19% | $1.23 (−32.69%) |
Feb 28, 2026 30w ago | Institutional Cluster | $1.84 $1.72 | ▼ −6.52% | ▲ +1.42% | $1.23 (−33.42%) |
Feb 24, 2026 31w ago | Insider Cluster | $2.14 $1.82 | ▼ −14.95% | ▼ −9.97% | $1.23 (−42.76%) |
Feb 24, 2026 31w ago | Insider Cluster | $2.14 $1.82 | ▼ −14.95% | ▼ −9.97% | $1.23 (−42.76%) |
Feb 24, 2026 31w ago | Insider Cluster | $2.14 $1.82 | ▼ −14.95% | ▼ −9.97% | $1.23 (−42.76%) |
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