Brookline Capital Markets has increased its price target for Caribou Biosciences (CRBU) from $26 to $34, while keeping a Buy rating on the stock. This decision comes as Caribou Biosciences prepares to initiate a CB-010 phase III trial in the second half of 2025, contingent on data that confirms improved outcomes for patients receiving a partially human leukocyte antigen (HLA) matched dose of CB-010. The trial's initiation also depends on reaching an agreement with the FDA on the pivotal trial design.
Caribou Biosciences is set to report initial data from the ANTLER study in the first half of the year. This data will cover both the 2L large B cell lymphoma and CD19 relapsed cohorts, focusing on the confirmation of improved outcomes in additional patients receiving a partially HLA matched dose of CB-010. Following this, the company plans to start a pivotal phase III trial in the second half of the year for 2L LBCL patients, including those regardless of HLA type.
