Citi Reiterates Buy Rating on Caribou Biosciences Inc. (CRBU)

Citi analyst Yigal Nochomovitz reiterated a Buy rating and $30.00 price target on Caribou Biosciences Inc. (NASDAQ: CRBU)

The analyst comments "CRBU’s retrospective introduction of a partial HLA-matching strategy for CB-010 (allogeneic CD19 CAR-T) seems be bearing fruit with the reported 14.4-month PFS in patients with 4+ HLA-matches appearing competitive with the auto-CAR-Ts in ZUMA-7/TRANSFORM in 2L LBCL (see Figure 1). We acknowledge CB-010’s Ns when cut for each HLA-match cutoff bucket (<2, 2-3, 4+) are very small relative to ZUMA-7/TRANSFORM but we believe this is offset by the enrollment of a more severe population in ANTLER (i.e., patients with rapidly progressing disease ineligible for an auto-CAR-T). Translational PK/PD data shared were also supportive of the proposed HLA-match strategy, with CB-010 showing greater persistence/expansion with 4+ HLA-matches. Overall, we believe the introduction of an HLA-matching strategy should accrue to a higher PoS in future CB-010 studies vs. the original all-comers plan and should inspire investor confidence as the broader picture on path to approval/market positioning is emerging."

For an analyst ratings summary and ratings history on Caribou Biosciences Inc. click here. For more ratings news on Caribou Biosciences Inc. click here.

Shares of Caribou Biosciences Inc. closed at $2.88 yesterday.

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