Faruqi & Faruqi, LLP Examines Claims on behalf of Caribou Biosciences Investors By Investing.com

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Farooqui & Farooqui, LLP Securities Litigation Partners James (Josh) Wilson Caribou encourages investors who have lost more than $75,000 to contact him directly to discuss their options.

If you have a loss of more than $75,000 Caribou Between July 14, 2023 and July 16, 2024 And you want to discuss your legal rights, call Farooqui & Farooqui Partner Josh Wilson live as if 877-247-4292 Or 212-983-9330 (Ex. 1310).

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NEW YORK, NY–( News File – Jan 19, 2025 ) – Farooqui & Farooqui, LLP, a leading national securities law firm, has announced that Caribou Biosciences Inc. (NASDAQ: CRBU) and reminds investors February 24, 2025 deadline To seek the role of lead plaintiff in a federal securities class action against the company.

Farooki & Farooki is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The organization Since its inception in 1995, it has returned hundreds of millions of dollars to investors. Check out www.faruqilaw.com.

As detailed 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: (i) overstated the safety, effectiveness, and durability of CB-010 compared to: overall clinical results and commercial prospects of CAR-T cell therapies approved to treat patients with R/r B-NHL and/or LBCL as well as CB-010’s; (ii) Caribu was at significant risk of not having sufficient cash, liquidity and/or other capital to support its current business operations, including preclinical research activities related to the allogeneic CAR-NK platform; and (iii) all of the foregoing may have a material adverse effect on Caribou’s business and operations.

On June 2, 2024, Caribou issued a press release stating that it “presented updated clinical data from the ongoing ANTLER Phase 1 trial, which (apparently) shows a single dose of CB-010 … has the potential to compete with the safety, efficacy and durability of approved CAR-T cell therapies.” .

The next day, analysts at Evercore ISI (“Evercore”) downgraded Caribo’s stock to “in-line” and lowered their price target to $3.00 from $13.00, saying they were not yet confident that Caribo Therapy would be “competitive and look forward to the process” in 1H 2025 as far as data is concerned. Evercore analysts noted that “(o)veral effectiveness of CB-010 in 2L (second line) LBCL is not competitive with autologous CAR-T low response rate and very short PFS (progression-), citing additional concerns related to safety and competition with CB-010.

On this news, Caribou’s stock price fell $0.735 per share, or 25.52%, to close at $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 “ceased preclinical research activities related to its allogeneic CAR-NK platform and reduced its workforce by 21 positions, or approximately 12%.” ”

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

The court-appointed lead plaintiff is the investor with the greatest financial interest in obtaining the relief sought by the class, who is sufficient and the class members who lead and control the litigation on behalf of the class members. Any member of the mandatory class may ask the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain as a residual class member. Your ability to participate in any recovery is not affected by the decision to serve as lead plaintiff or not.

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

Notice of attorney. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict similar results for any future case. We welcome the opportunity to discuss your case. All communications will be treated confidentially.

To view the source of this press release, please visit https://www.newsfilecorp.com/release/237452.