Get Premium to unlock powerful stock data

Caribou Charges Ahead on Study Results

Details of lymphoma drug trial slated for European Hematology meeting

Author's Avatar
May 17, 2022
Summary
  • Gracell and Autolus stocks also pop on news of presentations.
  • Any good news is welcome for biotech investors.
  • Mustang Bio and ADC Therapeutics will also share data at the meeting.
Article's Main Image

Shares of Caribou Biosciences Inc. (

CRBU, Financial) are up more than 46% since last Thursday, leading the way for several beaten-down biotechs that also rose after investors got a look at the presentations the companies will be making at next month’s European Hematology Association meeting.

Berkeley, California-based Caribou currently trades at about $9.70, jumping after the first efficacy data from the trial of its allogeneic anti-CD19 project showed a 100% remission rate among five lymphoma patients, including four complete responses. Relapses have been a big problem for similar treatments from Allogene Therapeutics Inc. (

ALLO, Financial), CRISPR Therapeutics (CRSP, Financial) and Precision BioSciences Inc. (DTIL, Financial).

Chimeric antigen receptor T cell therapies are part of the next generation of "living" drugs designed to treat cancer. Now Caribou Biosciences will start a Phase 1 trial with its off-the-shelf allogeneic anti-CD19, genome-edited CAR-T cell therapy for patients with relapsed/refractory B cell non-Hodgkin lymphoma.

1526302783936995328.png

Caribou went public last July at $16 a share and reached more than $32 a month later before beginning a slow descent. According to Yahoo Finance, the company was rated a buy or strong buy even before the promising study results, with an average 12-month target of nearly $30 and a high of $39.

Wall Street also liked what it heard from foreign micro-caps Gracell Biotechnologies Inc. (GRCL) and Autolus Therapeutics PLC (

AUTL, Financial). Shares of Gracell, a Chinese company, rose about 30% in the past week on the strength of the first blush of data that will be presented at the meeting. The company’s poster shows three remissions in the first three B-cell lymphoma patients receiving the company’s medication.

Meanwhile, investors in U.K.-based Autolus saw the value of their shares climb about 25% to $2.76 on upcoming news about the company’s unique approach to treating T-cell lymphoma.

Other companies scheduled to make oncology presentations at the EHA meeting are Mustang Bio Inc. (

MBIO, Financial) and ADC Therapeutics SA (ADCT, Financial).

Disclosures

I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure
Rating:
0 / 5 (0 votes)
Author's Avatar
WRITTEN BY

GuruFocus Screeners

Related Articles

Q&A with Gurus