Caribou Biosciences Reports $54.1 Million Net Loss in Q2 2025

Caribou Biosciences, Inc. reported a net loss of $54.1 million for the second quarter of 2025, compared to a loss of $37.7 million in the same period of 2024. For the first half of 2025, the company recorded a net loss of $94.1 million, up from $78.9 million in the prior year. The increase in losses is attributed to higher impairment charges and a decline in licensing and collaboration revenue, which fell to $2.7 million in Q2 2025 from $3.5 million in Q2 2024. The total revenue for the first half of 2025 was $5.0 million, down from $5.9 million in the same period last year.

The company's operating expenses for the second quarter of 2025 totaled $50.2 million, an increase from $47.0 million in Q2 2024. This rise was primarily driven by a $12.2 million impairment charge related to the strategic prioritization of its pipeline, which included the discontinuation of certain clinical programs and a workforce reduction of approximately 32%. Research and development expenses decreased to $27.7 million in Q2 2025 from $35.5 million in Q2 2024, reflecting cost-cutting measures and a reduction in external clinical trial activities.

In terms of operational metrics, Caribou's cash and cash equivalents increased to $25.2 million as of June 30, 2025, compared to $16.3 million at the end of 2024. The company also reported total assets of $220.9 million, down from $313.3 million at the end of the previous fiscal year, largely due to the impairment of equity investments and a decrease in marketable securities. The company’s accumulated deficit reached $542.5 million as of June 30, 2025.

Strategically, Caribou has focused on its allogeneic CAR-T cell therapy candidates, CB-010 and CB-011, which are currently in clinical trials. The company has received regulatory designations for these therapies, including fast track designation from the FDA. However, the recent termination of its agreement with Memorial Sloan Kettering Cancer Center (MSKCC) and the discontinuation of certain clinical trials indicate a shift in focus and resource allocation. The company anticipates that its existing cash and marketable securities will be sufficient to fund operations for at least the next 12 months, but it may need to raise additional capital to support ongoing development efforts.

Looking ahead, Caribou expects to continue incurring significant losses as it advances its clinical programs and seeks regulatory approvals. The company remains committed to its strategic initiatives while navigating the challenges of the biopharmaceutical landscape, including potential market volatility and the need for ongoing funding.