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id: 581, Created by Stan Vick, Scout
Caribou Biosciences, Inc. (CRBU) Misleading Case
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- Caribou Biosciences (CRBU) reported Clinical Data according to which CB-010 treatment lacked significant durability.
- CRBU's stock continues to trade 50%+ below the $16.00 per share IPO price, damaging investors.
- Investors suspect the Company, its Leaders, and the Service provided of multiple misleading statements on and after the IPO.
On December 12, 2022, Caribou (NASDAQ: CRBU) issued a press release “reporting new 12-month clinical data from cohort 1 in the ongoing ANTLER Phase 1 trial, which purportedly showed long-term durability following a single infusion of CB-010 at the initial dose level 1 (40x106 CAR-T cells).” Specifically, that press release stated, in the relevant part: Cohort 1 results show:
- 6 of 6 patients achieved a CR as the best response,
- 3 of 6 patients maintained a durable CR at 6 months, and
- 2 of 6 patients maintain a long-term CR at the 12-month scan and remain on the trial.
- 18 months is the longest CR maintained to date in ANTLER, achieved by the first patient dosed with CB-010 (Emphases added.)
Accordingly, concerns that the CB-010 treatment lacked significant durability were confirmed, despite repeated previous assurances by the Company and its Leaders to the contrary.
On this news, Caribou’s (CRBU) stock price fell over 9%. Caribou stock continues to trade 50%+ below the $16.00 per share Offering price, damaging investors.
Taking all representations and consequent facts into account, Investors have reasons to suspect the Company, its Leaders, and the Service provided of multiple misleading statements on and after the IPO.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
12 December 2022
10 February 2023
Lead Plaintiff Deadline
11 April 2023