H.C. Wainwright analyst Robert Burns reiterated a Buy rating on Caribou Biosciences (CRBU – Research Report) today and set a price target of $23.00.
Robert Burns has given his Buy rating to Caribou Biosciences’s stock due to a combination of factors. Firstly, the company’s Investigational New Drug, CB-012, has been cleared by the FDA to enter clinical trials. CB-012, a CAR-T cell therapy, will be tested in the AMpLify Phase 1 clinical trial, targeting patients with relapsed or refractory acute myeloid leukemia (AML). The therapy is attractive as it targets CLL-1, a molecule highly expressed on AML cells and leukemic stem cells, but not on healthy stem cells. This could offer a crucial treatment option for AML patients.
In addition, Caribou’s patented CRISPR Cas12a chRDNA genome-editing technology, which is used in CB-012, maintains high genomic integrity and enhances the specificity of genome editing. This technology has been used to engineer CB-012 with five genome edits, making it the first of its kind. Furthermore, the upcoming AMpLify clinical trial aims to achieve several objectives, including evaluating the safety and tolerability of CB-012 and determining its antitumor response. Finally, Burns highlighted several upcoming catalysts for the company, including potential dose-escalation readout for another therapy, CB-011, and initiation of patient enrollment in the AMpLify trial by mid-2024.
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Caribou Biosciences (CRBU) Company Description:
Caribou Biosciences Inc is a clinical-stage biopharmaceutical company dedicated to transforming the lives of patients with devastating diseases by applying its novel CRISPR platform, CRISPR hybrid RNA-DNA (chRDNA), toward the development of next-generation, genome-edited cell therapies.
Read More on CRBU:
- Caribou Biosciences Announces FDA Clearance of IND Application for CB-012, an Allogeneic Anti-CLL-1 CAR-T Cell Therapy for the Treatment of Relapsed or Refractory Acute Myeloid Leukemia
- Caribou Biosciences appoints Zawadzki as Chief People Officer
- Caribou Biosciences Appoints Reigin Zawadzki as Chief People Officer
- Caribou Biosciences price target lowered to $30 from $37 at Citi
- Caribou Biosciences to Participate in Upcoming Investor Conferences
