Caribou Biosciences, Inc. (CRBU) stock surged 8.08% in the after-market trading session at the price of $23.00 despite no fundamental reason. CRBU is a clinical-stage CRISPR biopharmaceutical firm. It develops genome-edited cell therapeutics using its proprietary chRDNA technology to treat patients with devastating diseases.
CRBU to Present at Investor Conferences
On 17th November 2021, CRBU published that Rachel Haurwitz, chief executive officer and president, will join two upcoming investor conferences. Webcasts of both events can be accessible via the Events page on the company’s website.
Piper Sandler 33rd Annual Virtual Healthcare Conference will take place from 30th November 2021 to 2nd December 2021. The fireside chat will be available on Wednesday, 24th November 2021. Evercore ISI 4th Annual HealthCONx Conference will also take place from 30th November 2021 to 2nd December 2021. The fireside chat of this conference will be available on Thursday, 2nd December 2021.
CRBU Third Quarter 2021 Financial Results
On 9th November 2021, CRBU published its financial results for the third quarter of 2021 and presented business highlights.
Financial Highlights
CRBU reported cash and cash equivalents of $435.3 million for the three months ended on 30th September 2021. It includes net proceeds of $321.0 million from the company’s IPO completed in August 2021. The company reported a net loss of $21.0 million for the three months ended on 30th September 2021. Net loss totaled $7.9 million for the quarter ended on 30th September 2020.
For the third quarter of 2021, the company generated $4.0 million in revenue from its licensing and collaboration agreements. Revenue from licensing and collaboration agreements totaled $1.2 million for the three months ended on 30th September 2020. For the quarter ended 30th September 2021, CRBU recorded $2.4 million in its non-cash expenses.
For the third quarter of 2021, research and development costs totaled $15.8 million. Research and development expenses were $6.2 million in the third quarter ended on 30th September 2020. For the third quarter of 2021, CRBU calculated general and administrative expenses of $6.8 million. General and administrative costs were $3.2 million for the third quarter ended 30th September 2020.
