Caribou Biosciences, Inc. (CRBU) Stock Analysis and Metrics

Sector: Healthcare Industry: Biotechnology CIK: 0001619856

P/B 1.17

P/E -1.05

P/S 17.80

Market Cap 165.45 Mn

ROIC (Qtr) -88.38

Div Yield % 0.00

Rev 1y % (Qtr) 8.60

Total Debt (Qtr) 25.46 Mn

Debt/Equity (Qtr) 0.18

About

Caribou Biosciences, Inc., a clinical-stage biopharmaceutical company, is dedicated to developing transformative therapies for patients with devastating diseases using its innovative CRISPR hybrid RNA-DNA (chRDNA) genome editing technology. The company's mission is to build an integrated company that discovers, develops, manufactures, and commercializes genome-edited therapies that have the potential to treat patients with significant unmet needs. Caribou's primary focus is on developing allogeneic cell therapies for hematologic malignancies, and...

Caribou Biosciences, Inc., a clinical-stage biopharmaceutical company, is dedicated to developing transformative therapies for patients with devastating diseases using its innovative CRISPR hybrid RNA-DNA (chRDNA) genome editing technology. The company's mission is to build an integrated company that discovers, develops, manufactures, and commercializes genome-edited therapies that have the potential to treat patients with significant unmet needs.

Caribou's primary focus is on developing allogeneic cell therapies for hematologic malignancies, and its chRDNA technologies offer broad potential applications in the future. The company's chRDNA platform enables the design of allogeneic cell therapies with the potential to achieve enhanced cell killing activity through the use of tailored armoring strategies, including checkpoint disruption, immune cloaking, cytokine support, and a combination of these strategies. The company's pipeline includes three clinical-stage allogeneic CAR-T cell therapies: CB-010, CB-011, and CB-012.

Caribou's chRDNA technology has several advantages over traditional genome editing technologies, including specificity, high efficiency, and versatility. The company's chRDNA guides are designed to mediate high specificity and efficiency genome editing, and have been shown to achieve equivalent or higher gene knockout efficiencies compared to conventional all-RNA guides. Additionally, the company's chRDNA technology allows for the insertion of new genes into a genome, which is critical for the development of allogeneic CAR-T cell therapies. The company's strategy is focused on applying its chRDNA genome editing technology to engineer allogeneic cell therapies from its CAR-T and CAR-NK platforms that have the potential for durable activity against disease.

Caribou's position within the industry is strong, with a robust pipeline of clinical-stage allogeneic CAR-T cell therapies. The company's chRDNA technology has been shown to have several advantages over traditional genome editing technologies, including specificity, high efficiency, and versatility. The company's pipeline includes three clinical-stage allogeneic CAR-T cell therapies, and its chRDNA platform enables the design of allogeneic cell therapies with the potential to achieve enhanced cell killing activity through the use of tailored armoring strategies. The company's customers are primarily patients with hematologic malignancies, including those with r/r LBCL, r/r MM, and r/r AML.

Caribou's chRDNA technology has several advantages over traditional genome editing technologies, including specificity, high efficiency, and versatility. The company's chRDNA guides are designed to mediate high specificity and efficiency genome editing, and have been shown to achieve equivalent or higher gene knockout efficiencies compared to conventional all-RNA guides. Additionally, the company's chRDNA technology allows for the insertion of new genes into a genome, which is critical for the development of allogeneic CAR-T cell therapies. The company's competitive advantages include its robust pipeline of clinical-stage allogeneic CAR-T cell therapies, its chRDNA technology, and its experienced team of scientists who continue to drive innovation.

Caribou has entered into several strategic agreements, including a Securities Purchase Agreement with Pfizer Inc. for the sale of shares of its common stock, a Sale and Assignment Agreement with ProMab Biotechnologies, Inc. for the purchase of a humanized scFv targeting BCMA, and an Amended and Restated Collaboration and License Agreement with Pioneer Hi-Bred International, Inc. for the cross-licensing of background CRISPR intellectual property portfolios. The company has also entered into a License Agreement with Intellia Therapeutics, Inc. for the exclusive worldwide license to certain CRISPR-Cas9 technology for a defined field of human therapeutics.

Caribou's pipeline includes three clinical-stage allogeneic CAR-T cell therapies: CB-010, CB-011, and CB-012. CB-010 is being evaluated in the ANTLER phase 1 clinical trial for the treatment of adult patients with relapsed or refractory large B cell lymphoma (r/r LBCL), while CB-011 is being evaluated in the CaMMouflage phase 1 clinical trial for the treatment of adult patients with r/r multiple myeloma (r/r MM). CB-012 is being evaluated in the AMpLify phase 1 clinical trial for the treatment of adult patients with relapsed or refractory acute myeloid leukemia (r/r AML).

Stock Price Chart

Analysis

Pros

Healthy cash reserves of 11.14M provide 4.15x coverage of short-term debt 2.69M, demonstrating strong liquidity position and minimal refinancing risk.
Strong tangible asset base of 194.98M provides 7.66x coverage of total debt 25.46M, indicating robust asset backing and low credit risk.
Tangible assets of 194.98M provide exceptional 49.08x coverage of deferred revenue 3.97M, showing strong service capability backing.
Operating cash flow of (125.64M) fully covers other non-current liabilities (1.67M) by 75.28x, showing strong long-term stability.
Short-term investments of 136.12M provide solid 6.31x coverage of other current liabilities 21.57M, indicating strong liquidity.

Cons

Operating cash flow of (125.64M) barely covers its investment activities of 100.20M, with a coverage ratio of -1.25, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
Investment activities of 100.20M provide weak support for R&D spending of 116.09M, which is 0.86x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
Operating cash flow of (125.64M) provides insufficient coverage of deferred revenue obligations of 3.97M, which is -31.62x, raising concerns about future service delivery capabilities.
Short-term investments of 136.12M significantly exceed cash reserves of 11.14M, which is 12.21x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
The company's operating cash flow of (125.64M) shows concerning coverage of stock compensation expenses of 13.85M, with a -9.07 ratio indicating potential earnings quality issues.

Peer Comparison

Companies in the Biotechnology

S.No.	Ticker	Company	Market Cap	P/E	P/S	Total Debt (Qtr)
1	SMMT	Summit Therapeutics Inc.	1,349.40 Bn	-1,464.17	0.00	0.01 Bn
2	ONC	BeOne Medicines Ltd.	437.43 Bn	6,381.20	87.97	1.90 Bn
3	VRTX	Vertex Pharmaceuticals Inc / Ma	116.09 Bn	31.59	9.90	1.83 Bn
4	REGN	Regeneron Pharmaceuticals, Inc.	78.10 Bn	17.06	5.48	2.71 Bn
5	ALNY	Alnylam Pharmaceuticals, Inc.	55.87 Bn	1,282.42	17.40	3.21 Bn
6	ARGX	Argenx Se	52.85 Bn	35.08	27,559.65	-
7	BNTC	Benitec Biopharma Inc.	41.75 Bn	-998.33	0.00	0.00 Bn
8	INSM	INSMED Inc	37.80 Bn	-31.93	84.56	0.74 Bn

Industry Comparisons

Current Valuation

Metric	Value	Industry
EV to Assets	0.85	12.31
EV to Cash from Ops.	-1.32	23.25
EV to Debt	6.52	738.44
EV to EBIT	-1.06	-9.16
EV to EBITDA	-1.09	6.95
EV to Free Cash Flow [EV/FCF]	-1.30	21.90
EV to Market Cap	1.00	65.67
EV to Revenue	17.87	227.32
Price to Book Value [P/B]	1.17	22.34
Price to Earnings [P/E]	-1.05	-11.77

Dividend Metrics

Metric	Value	Industry	Percentile
Dividend Coverage Ratio	0.00	-11.94
Dividend Payout Ratio %	0.00	0.16
Dividend per Basic Share	0.00	0.01
FCF Dividend Payout Ratio %	0.00	-0.14
Interest Coverage	0.00	841.00

Growth Metrics

Metric	Value	Industry
Capex Growth (1y) %	68.67	-27.13
Cash and Equivalents Growth (1y) %	-65.14	734.65
Dividend Growth (1y) %	0.00	0.01
EBIAT Growth (1y) %	-6.08	-46.93
EBITDA Growth (1y) %	4.26	-1.68
EBIT Growth (1y) %	-6.23	-56.45
EBT Growth (1y) %	-6.23	-12.70
EPS Growth (1y) %	-2.41	-28.31
FCF Growth (1y) %	2.32	-31.90
Gross Profit Growth (1y) %	-19.00	226.84

Liquidity Ratios

Metric	Value	Industry
Asset Utilization Ratio	0.05	0.14
Cash Payout Ratio	0.00	0.00
Cash Ratio	0.40	3.85
Current Ratio	5.54	7.27
Debt to Equity Ratio	0.18	0.40
Interest Cover Ratio	0.00	841.00
Times Interest Earned	0.00	841.00

Profitability

Metric	Value	Industry
EBITDA Margin %	-1,625.40	-18,234.31
EBIT Margin %	-1,690.54	-18,580.80
EBT Margin %	-1,690.54	-19,488.74
Gross Margin %	100.00	-7.59
Net Profit Margin %	-1,690.40	-19,439.22

Caribou Biosciences, Inc. (NASDAQ: CRBU)