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CRBU.US
id: 1453

Caribou Biosciences (CRBU) Clinical Data Misrepresentation Case

N.D. California
Court
4:24-cv-09413
Case number
07/14/2023
Class period Start
07/16/2024
Class period End
02/22/2025
Lead Plaintiff motion deadline
  • $CRBU investors filed a lawsuit against Caribou Biosciences for misleading them about the safety, efficacy, and commercial prospects of their lead product, CB-010.
  • On June 2, 2024, Caribou presented updated Phase 1 clinical trial data for CB-010, which revealed lower-than-expected response rates and progression-free survival. Following this, $CRBU dropped by 25.52%.
  • $CRBU investors can join this case to be notified about potential recovery.
Case Details:

Between July 14, 2023, and July 16, 2024, Caribou Biosciences promoted CB-010, an allogeneic anti-CD19 CAR-T cell therapy, as a safer and more effective alternative to traditional CAR-T treatments. They claimed CB-010 could rival or surpass existing therapies in safety, effectiveness, and durability.

However, at June 2, 2024, ASCO event, Caribou shared Phase 1 trial results showing a 36% complete response rate—significantly lower than the 65-66% rates of competing therapies. The trial also revealed shorter progression-free survival for patients using CB-010.

On July 16, 2024, Caribou announced a 12% workforce reduction and the suspension of its CAR-NK research program to save funds. These developments left investors questioning the company’s future.
Following this $CRBU dropped by 25.52%

Based on these events, $CRBU investors filed a lawsuit against Caribou Biosciences, claiming the company:
  • It misled investors about CB-010’s clinical trial results and ability to compete with approved therapies.
  • It failed to disclose financial challenges and risks tied to its CAR-NK research platform.
Investors believe Caribou overstated the potential of CB-010 and concealed financial instability.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Financial Misrepresentation
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
06/03/2024
Filing date
12/24/2024
Lead Plaintiff Deadline
02/22/2025
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