CARIBOU BIOSCIENCES Reports Second Quarter Fiscal Year 2023 Earnings on August 8 2023
August 11, 2023
🌥️Earnings Overview
On August 8 2023, CARIBOU BIOSCIENCES ($NASDAQ:CRBU) revealed their financials for Q2 of 2023, which ended June 30 2023. Their total revenue was USD 3.8 million, a 10.3% drop from the same quarter in FY2022. This quarter’s net income was USD -29.5 million, compared to -26.7 million in Q2 of the prior year.
Share Price
On Tuesday, August 8, 2023, CARIBOU BIOSCIENCES reported their fiscal year 2023 second quarter earnings. The stock opened at $6.5 and closed at $6.5, with a 0.6% decline from the prior closing price of 6.6. Despite the minor dip in their stock prices, CARIBOU BIOSCIENCES is on track to finish their fiscal year strong. CARIBOU BIOSCIENCES is a biotechnology company specializing in development of gene therapies to treat diseases. Their innovations have helped to advance the field of gene therapy, and they continue to promise groundbreaking solutions in the biomedical industry.
The company has seen great success in their treatments, which has propelled their stock prices up over the past few quarters. Analysts are optimistic that CARIBOU BIOSCIENCES will continue to see growth in the upcoming quarters. The company’s outlook for the foreseeable future looks bright, and they are well positioned to capitalize on the current market opportunities. Investors should keep a close eye on CARIBOU BIOSCIENCES as they continue to build on their success and deliver innovative treatments to the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Caribou Biosciences. More…
| Total Revenues | Net Income | Net Margin |
| 14.25 | -111.2 | -780.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Caribou Biosciences. More…
| Operations | Investing | Financing |
| -90.54 | 24.6 | 19.99 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Caribou Biosciences. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 349.65 | 80.19 | 4.08 |
Key Ratios Snapshot
Some of the financial key ratios for Caribou Biosciences are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 33.8% | – | -849.7% |
| FCF Margin | ROE | ROA |
| -693.5% | -27.6% | -21.6% |
Analysis
At GoodWhale, we have done a deep dive into the fundamentals of CARIBOU BIOSCIENCES, and our analysis has given us a Risk Rating of medium. This means that while there are some risks associated with investing in this company, the financial and business aspects are generally sound. We have also identified two risk warnings in the cashflow statement and financial journal which registered users can check out in more detail. While these warnings should always be taken into account when making an investment decision, they are not necessarily an indication of a bad investment. Rather, they are meant to give investors a better understanding of the risks associated with an investment in CARIBOU BIOSCIENCES. More…
Peers
The company has a strong pipeline of products in various stages of development and has entered into several strategic partnerships with major pharmaceutical companies. Its main competitors are Mersana Therapeutics Inc, Annexon Inc, and IO Biotech Inc.
– Mersana Therapeutics Inc ($NASDAQ:MRSN)
Mersana Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing a pipeline of antibody-drug conjugates (ADCs) for the treatment of cancer. The company’s lead product candidate is XMT-1522, an ADC targeting HER2-positive cancers. Mersana Therapeutics Inc has a market cap of 662.5M as of 2022 and a Return on Equity of -87.12%. The company’s focus on developing a pipeline of ADCs makes it a compelling investment for those seeking exposure to this growing area of cancer treatment.
– Annexon Inc ($NASDAQ:ANNX)
Annexon Inc is a biopharmaceutical company that focuses on the development of therapies for the treatment of autoimmune and inflammatory diseases. The company has a market capitalization of $242.44 million and a return on equity of -35.03%. The company’s products are in clinical trials and are not yet available for commercial use.
– IO Biotech Inc ($NASDAQ:IOBT)
Sarepta Therapeutics is a biopharmaceutical company focused on the discovery and development of precision genetic medicines to treat rare neuromuscular diseases. The company’s first commercial product, EXONDYS 51, is approved in the United States for the treatment of Duchenne muscular dystrophy in patients who have a confirmed mutation of the DMD gene that is amenable to exon 51 skipping. Sarepta is also advancing its pipeline of product candidates for the treatment of additional rare neuromuscular diseases.
Summary
Caribou Biosciences has released its second quarter earnings results for FY2023, reporting total revenue of USD 3.8 million, a 10.3% decrease from the same quarter the previous year. Net income amounted to -29.5 million, a slightly worse performance than the -26.7 million reported in Q2 of FY2022. Investors appear to be cautious ahead of the results, with share prices remaining relatively flat since the announcement. Long term investors with a large risk appetite may be attracted by the potential upside of Caribou, however caution should be exercised as the company is yet to turn a profit.
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