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CRBU.US
id: 581

Caribou Biosciences, Inc. (CRBU) Misleading Case

N.D. California
Court
23-CV-00609
Case number
11 Apr 2023
Lead Plaintiff motion deadline
  • 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.
Alleged Offence
Misleading Statements
Failure to Disclose
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
12 December 2022
Filing date
10 February 2023
Lead Plaintiff Deadline
11 April 2023
Collecting participants…

Caribou Biosciences Inc

Caribou Biosciences, Inc., a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies in the Uni...

    Ticker
    CRBU.US
    ISIN
    US1420381089
    CIK
    1619856
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    2929 7th Street, Berkeley, CA, United States, 94710