Faruqi & Faruqi, LLP is investigating the claims on behalf of investors in Caribou Biosciences By Investing.com

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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses greater than $75,000 in Caribou to contact him directly to discuss their options

If you have suffered losses greater than $75,000 Caribou between July 14, 2023 and July 16, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).

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New York, New York–(Newsfile Corp. – January 3, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Caribou Biosciences, Inc. (“Caribou” or the “Company” ) (NASDAQ: CRBU) and reminds investors of The deadline is February 24, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.

As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that they: (i) overstated the safety, efficacy, and durability of CB-010 in relation to approved autologous CAR-T cell therapies in the treatment of patients with sr/r B-NHL and/or LBCL, as well as the overall clinical results and commercial prospects of CB-010; (ii) Caribou was exposed to a significant risk of not having sufficient cash, liquidity and/or other capital to fund its ongoing business operations, including preclinical research activities related to the allogeneic CAR-NK platform; and (iii) that all of the foregoing could have a material adverse effect on Caribou’s business and operations.

On June 2, 2024, Caribou issued a press release announcing that it “presented updated clinical data from the ongoing Phase 1 ANTLER trial that [purportedly] indicates a single dose of CB-010. . . has the potential to rival the safety, efficacy and durability of approved autologous CAR-T cell therapies.”

The next day, analysts at Evercore ISI (“Evercore”) downgraded Caribou’s stock to “okay” and dropped their price target to $3.00 from $13.00, saying they were “not yet convinced” that Caribou’s therapy “will be competitive and wait on the sidelines until data in the first half of 2025.” Specifically, Evercore analysts stated, among other things, that “[o]overall, the effectiveness of CB-010 in 2L [second-line] LBCL is not competitive with autologous CAR-T with a lower response rate and much shorter PFS [progression-free survival]”, with a note on additional risks related to the safety and competition of CB-010.

Following this news, Caribou’s stock price fell $0.735 per share, or 25.52%, to $2.145 per share on June 3, 2024.

Then on July 16, 2024, Caribou disclosed in a filing with the United States Securities and Exchange Commission that it had “discontinued preclinical research activities related to the allogeneic CAR-NK platform and reduced its workforce by 21 positions, or approximately 12%.” explaining that “[t]The company is undertaking this reduction to extend its cash flow.”

Following the news, Caribou’s stock price fell $0.09 per share, or 3.3%, to close at $2.64 per share on July 17, 2024.

A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about Caribou’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.

To view the original version of this press release, visit https://www.newsfilecorp.com/release/235883

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