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目录
美国
证券交易委员会
华盛顿特区20549
______________________________________
表格 10-Q
______________________________________
（标记一）
x根据1934年证券交易法第13或15(d)节的季度报告
截至季度结束日期的财务报告2024年9月30日
或者
o根据1934年证券交易法第13或15(d)节的转型报告书
在过渡期从到
委托文件编号：001-39866001-40631
______________________________________
全球领先的CRISPR基因编辑生物制药公司Caribou Biosciences，Inc。
（依据其宪章指定的注册名称）
______________________________________
特拉华州45-3728228
（注册或组织的）州或其他司法辖区
公司成立或组织）		（IRS雇主
唯一识别号码）
第2929街, Suite 105
伯克利, 加利福尼亚州
94710
，（主要行政办公地址）(邮政编码)
公司电话号码，包括区号：（510) 982-6030
______________________________________
根据法案第12（b）条注册的证券：
每一类的名称交易标志在其上注册的交易所的名称
普通股，每股面值为$0.0001CRBU
The 纳斯达克资本市场全球货币选择市场
请勾选以下选项以指示注册人是否在过去12个月内(或在注册人需要提交此类报告的较短时间内)已提交证券交易法1934年第13或15(d)条所要求提交的所有报告，并且在过去90天内已受到此类报告提交要求的影响。Yes x 否o
请在以下勾选方框表示注册人是否已在Regulation S-T Rule 405规定的前12个月(或在注册人需要提交此类文件的较短期间内)提交了每个互动数据文件。Yes x 否o
请勾选标记以说明注册人是大型快速申报人、加速申报人、非加速申报人、较小的报告公司还是新兴成长型公司。请查看《交易所法》第120亿.2条中“大型快速申报人”、“加速申报人”、“较小的报告公司”和“新兴成长型公司”的定义。
大型加速报告人o加速文件提交人o
非加速文件提交人x较小的报告公司x
新兴成长公司x
如果是新兴成长型企业，请勾选复选标记，表明注册者已选择不使用延长过渡期来符合根据证券交易法第13(a)条规定提供的任何新财务会计准则。 o
请勾选是否注册公司是外壳公司（根据《证券交易法》第12b-2规则定义）。是o 否x
截至2024年11月1日，注册人持有 90,552,687全称为普通股，每股面值为 0.0001 美元。

目录
目录
页面
i
目录
第一部分——财务信息
项目1.基本报表。
鹿岛生物科学公司及其子公司
汇编的综合资产负债表
（未经审计）
(以千为单位，除每股数据外)
9月30日,
2024		12月31日,
2023
资产
流动资产
现金及现金等价物$31,970 $51,162 
短期可交易证券196,208 277,665 
应收账款184 148 
合同资产798 1,425 
其他应收款1,683 2,286 
预付费用和其他流动资产6,583 6,155 
总流动资产237,426 338,841 
非流动资产
股票投资9,272 7,753 
可交易证券, 长期52,837 43,577 
资产和设备，净值19,565 18,270 
经营租赁权益资产20,493 22,182 
其他4,741 1,586 
资产总计$344,334 $432,209 
负债和股东权益
流动负债
应付账款$2,704 $3,120 
应计费用及其他流动负债25,448 21,135 
经营租赁负债，流动负债
1,178 1,200 
递延营业收入（$2,487 截至2024年9月30日和2023年12月，从关联方处的
2,829 2,847 
流动负债合计32,159 28,302 
开多期债务
递延营业收入，减去流动部分（$1,865 和 $3,730 分别于2024年9月30日和2023年12月从关联方处的
3,947 6,102 
MSKCC成功支付责任负债1,005 2,939 
非流动经营租赁负债
25,463 25,908 
递延税款负债557 557 
负债合计63,131 63,808 
业务承诺和或有事项（注9）
股东权益
普通股，每股面值 $，授权股数：百万股；发行股数：分别为2024年6月30日和2023年12月31日：百万股；流通股数：分别为2024年6月30日和2023年12月31日：百万股0.0001每股股票价格为300,000,000 2024年9月30日和2023年12月31日授权发行的股份数量; 90,552,687 和 88,448,948 截至2024年9月30日和2023年12月31日分别发行并流通的股份
9 8 
股本溢价693,305 667,648 
累计其他综合收益
789 30 
累积赤字(412,900)(299,285)
股东权益总额281,203 368,401 
负债和股东权益总计$344,334 $432,209 
附带说明是这些未经审计的简化合并财务报表的组成部分。
1
目录
鹿岛生物科学公司及其子公司
联合综合收益及损失简明合并报表
（未经审计）
(以千为单位，除每股数据外)
截至9月30日的三个月截至9月30日的九个月
2024202320242023
许可和合作营业收入（包括2024年9月30日结束的三个月和九个月分别为$，以及2023年9月30日结束的三个月和九个月分别为$，来自关联方）622 和 $3,488 许可和合作营业收入（包括2024年9月30日结束的三个月和九个月分别为$，以及2023年9月30日结束的三个月和九个月分别为$，来自关联方）622 和 $1,772 许可和合作营业收入（包括2024年9月30日结束的三个月和九个月分别为$，以及2023年9月30日结束的三个月和九个月分别为$，来自关联方）
$2,024 $23,662 $7,917 $30,919 
营业费用：
研发30,421 28,584 99,689 80,796 
一般行政9,841 9,711 35,969 28,740 
营业费用总计40,262 38,295 135,658 109,536 
经营亏损(38,238)(14,633)(127,741)(78,617)
其他收入：
股权证券公允价值变动(14)(4)(116)3 
MSKCC成功支付责任的公允价值变动(164)(139)1,934 395 
其他收入，净额3,732 4,774 12,308 10,654 
其他总收入
3,554 4,631 14,126 11,052 
净损失(34,684)(10,002)(113,615)(67,565)
其他综合收益:
Net unrealized gain on available-for-sale marketable securities, net of tax
1,108 155 759 537 
综合收益净亏损$(33,576)$(9,847)$(112,856)$(67,028)
基本和稀释每股净亏损$(0.38)$(0.12)$(1.26)$(0.98)
基本和稀释加权普通股份90,455,900 83,783,992 90,034,799 68,878,921 
附带说明是这些未经审计的简化合并财务报表的组成部分。
2
目录
鹿岛生物科学公司及其子公司
股东权益的简化合并报表
（未经审计）
（以千为单位，除股份数量外）
普通股股本所对应的账面超额支付
资本
累计其他综合损益
累计
赤字		股东权益合计
股份金额
截至2023年12月31日余额88,448,948$8 $667,648 $30 $(299,285)$368,401 
按照员工股票购买计划（ESPP）发行普通股
122,035— 667 — — 667 
按照期权行权发行普通股
134,347— 489 — — 489 
按照我们的ATM方案发行普通股，减去发行费用
1,594,1711 11,329 — — 11,330 
按照RSU解禁发行普通股
15,000— — — — — 
股票补偿费用—— 3,988 — — 3,988 
净损失—— — — (41,234)(41,234)
其他综合损失—— — (352)— (352)
截至2024年3月31日的余额90,314,501$9 $684,121 $(322)$(340,519)$343,289 
在员工股票购买计划下发行普通股
400— 2 — — 2 
通过期权行使发行普通股
47,870— 129 — — 129 
股票补偿费用—— 4,738 — — 4,738 
净损失—— — — (37,697)(37,697)
其他综合收益—— — 3 — 3 
截至2024年6月30日的余额90,362,771$9 688,990 $(319)$(378,216)$310,464 
按ESPP发行普通股
138,743— 246 — — 246 
根据RSUs解锁发行普通股
51,173— — — — — 
股票补偿费用—— 4,069 — — 4,069 
净损失—— — — (34,684)(34,684)
其他综合收益—— — 1,108 — 1,108 
2024年9月30日余额90,552,687$9 $693,305 $789 $(412,900)$281,203 
2022年12月31日的余额61,029,184$6 $499,598 $(1,518)$(197,215)$300,871 
按ESPP发行普通股
70,271— 404 — — 404 
通过期权行使发行普通股
55,433— 115 — — 115 
在我们的ATm招股中发行普通股，扣除发行费用后
168,635— 1,007 — — 1,007 
股票补偿费用—— 3,131 — — 3,131 
净损失—— — — (28,044)(28,044)
其他综合收益—— — 788 — 788 
截至2023年3月31日的余额61,323,523$6 $504,255 $(730)$(225,259)$278,272 
通过期权行使发行普通股
86,085— 236 — — 236 
辉瑞定向增发发行普通股
4,690,431— 17,290 — — 17,290 
股票补偿费用—— 3,585 — — 3,585 
净损失—— — — (29,519)(29,519)
其他综合损失—— — (406)— (406)
資產負債表- 2023年6月30日66,100,039$6 $525,366 $(1,136)$(254,778)$269,458 
根据ESPP发行普通股
68,183— 382 — — 382 
行使期权发行普通股
83,407— 372 — — 372 
RSUs获得后发行普通股
63,596— — — — — 
随即公开发行发行普通股，扣除发行费用
22,115,3842 134,423 — — 134,425 
股票补偿费用—— 3,478 — — 3,478 
净损失—— — — (10,002)(10,002)
其他综合收益
—— — 155 — 155 
余额-2023年9月30日88,430,609$8 $664,021 $(981)$(264,780)$398,268 
附带说明是这些未经审计的简化合并财务报表的组成部分。
3
目录
鹿岛生物科学公司及其子公司
简明的综合现金流量表
（未经审计）
(以千为单位)
截至9月30日的九个月
20242023
经营活动产生的现金流量：
净损失$(113,615)$(67,565)
调整为净损失到经营活动现金流量净使用：
折旧和摊销2,743 2,785 
固定资产处置损益
4 (34)
许可和合作营业收入的非现金代价(1,634)(61)
股权证券公允价值变动116 (3)
股票补偿费用12,795 10,194 
MSKCC成功付款责任公平价值变动(1,934)(395)
收购的未完成研发项目1,625 — 
可交易证券投资折价累计，净额
(3,708)(6,042)
非现金租赁费用1,690 1,551 
经营性资产和负债变动:
应收账款(36)(931)
合同资产628 588 
其他应收款603 (130)
预付费用和其他流动资产(428)852 
其他(3,155)(30)
应付账款(125)1,089 
应计费用及其他流动负债4,341 2,848 
待摊收入，流动和长期(2,173)(16,337)
经营租赁负债(467)(291)
经营活动使用的净现金流量(102,730)(71,912)
投资活动产生的现金流量：
出售和到期的有市场流通的证券收益
325,553 283,193 
购买有市场流通的证券(248,889)(310,566)
购买固定资产(4,362)(9,336)
用于获取未完成研究和开发的付款(1,625)— 
投资活动产生的净现金流量70,677 (36,709)
筹资活动产生的现金流量：
公开跟进发行的净收益，减去发行费用
— 134,536 
与辉瑞签署的定向增发普通股所得款项
— 17,290 
行使期权所得款项
619 1,508 
公司股票期权计划下发行的普通股所得款项
913 — 
与我们的ATM有关的普通股发行所得款项，减去发行费用
11,329 1,007 
筹资活动产生的现金净额12,861 154,341 
现金、现金等价物和受限制现金的净（增加）减少(19,192)45,720 
期初现金、现金等价物和受限制现金51,208 58,384 
期末现金、现金等价物和受限制现金$32,016 $104,104 
现金、现金等价物和受限制现金的调节
现金及现金等价物$31,970 $104,058 
受限现金46 46 
资产负债表上的现金、现金等价物和受限制现金
$32,016 $104,104 
补充现金流量信息：
支付的所得税费用$— $170 
非现金投资和筹资活动的补充安排：
购买固定资产和设备，包括应付账款和应计费用$373 $556 
计入应计费用的发行费用$— $113 
附带说明是这些未经审计的简化合并财务报表的组成部分。
4
目录
鹿岛生物科学公司及其子公司
简明合并财务报表注释
（未经审计）
1. 业务、组织和流动性的描述
业务和组织
Caribou Biosciences, Inc.（“公司” 或 “我们”）处于临床阶段 C聚集的 R定期地 I间隔 Short Palindromic Repeats（“CRISPR”）基因组编辑生物制药公司致力于为患有毁灭性疾病的患者开发变革性疗法。我们的基因组编辑平台，包括我们的新型 chrDNA (CRISPR h混合动力 RNA-DNA，或 “chrDNA”（发音为 “chardonnay”）技术，可以进行更精确的基因组编辑，从而开发出能够提高抗病活性的细胞疗法。我们正在推进来自嵌合抗原受体（“CAR”）t（“CAR-T”）细胞平台的异基因或现成细胞疗法产品线，将其作为患者随时可用的治疗方法。
我们于2011年10月成立为特拉华州公司，并总部设在加利福尼亚州伯克利。我们持有 四个 全资子公司：Antler Holdco，LLC，于2019年4月在特拉华州成立；Microbe Holdco，LLC，于2020年6月在特拉华州成立；Arboreal Holdco，LLC，于2020年11月在特拉华州成立；以及Biloba Holdco，LLC，在2021年4月在特拉华州成立。我们的全资子公司持有我们的股权投资，并没有经营活动。
流动性
自成立以来，我们一直出现运营亏损和负现金流，并且截至$；412.9 2024年9月30日，我们在截至2024年9月30日的九个月内出现了$；113.6 截止2024年6月30日的六个月中，公司录得净亏损$两百万并使用了$三百万现金进行运营。102.7 百万美元的经营活动现金流出。我们预计将继续出现巨额亏损，我们实现和维持盈利能力的能力将取决于产品候选品的成功开发、监管批准和商业化，以及我们产生足够营业收入以支持我们的成本结构。我们可能永远无法实现盈利，除非我们达到这一目标，否则我们需要继续筹集额外资本。我们的管理层预计，截至2024年9月30日的现金、现金等价物和可交易证券$；281.0 百万美元将足以支持我们当前的营运计划，至少从本季度报告表格10-Q（“10-Q表格”）的日期起的未来12个月。
2. 重要会计政策之摘要
基本报表中披露的年度合并财务报表附注2中的重要会计政策未发生变化，该报表已列入我们在10-K表格中的年度报告中（“10-K表格”）。
呈报依据及合并原则
我们未经审计的简明综合财务报表已按照美国通用会计准则（“U.S. GAAP”）编制，包括我们的账户和完全拥有的子公司的账户。所有公司间账户和交易在合并中被消除。
使用估计
按照美国通用会计准则编制的未经审计的简明合并基本报表要求我们的管理层进行估计和假设，这些估计和假设会影响资产和负债的报告金额；未经审计的简明合并基本报表日期披露的附带资产和负债；以及适用报告期间的营业收入、收入和费用的报告金额。我们会定期评估我们的估计和假设，包括与营业收入确认、股票补偿支出、研发活动相关的应计费用、评估Memorial Sloan Kettering Cancer Center（“MSKCC”）成功支付责任的价值、经营租赁权益资产和负债以及所得税有关的估计。我们的管理层会基于历史经验和其他各种假设进行估计，他们认为在此情况下是合理的，其结果构成了对于资产和负债的账面价值的判断，这些价值并非来自于其他来源的明显信息。实际结果可能与这些估计差异很大。
5
目录
板块
我们将我们的业务作为报告的经营部门进行运营和管理，这是开发同种异体CAR-t细胞治疗业务。我们的总裁兼首席执行官，即首席营运决策者，通过汇总的财务信息来分配资源和评估财务绩效。所有资产都保存在美国。 之一 我们将我们的业务作为报告的经营部门进行运营和管理, 这是开发同种异体CAR-t细胞治疗业务。我们的总裁兼首席执行官, 即首席营运决策者, 通过汇总的财务信息来分配资源和评估财务绩效。所有长期资产都保存在美国。
信贷风险集中度和其他不确定性
潜在使我们面临信用风险集中的金融工具包括现金及现金等价物、应收账款、合同资产、其他应收款、以及可交易证券和股权证券。几乎所有的现金及现金等价物存款均存放在四家金融机构的账户中，我们的账户余额超过联邦保险限额。我们通过投资高级别工具、限制与某一发行人的风险敞口，监控这些金融机构和发行人的持续信用状况来降低风险。
代表我们营业收入、应收账款和合同资产10%或更多的执照持有人如下：
 
营业收入
营业收入
应收账款和
合同资产
 
三个月结束
九个月结束截至
截至2023年9月30日年 度报告
2024		截至
截至12月31日公允价值
2023
 2024年9月30日2023年9月30日2024年9月30日2023年9月30日
甲方
34.9 %*24.2 %*68.5 %47.5 %
乙方
*90.8 %*79.1 %**
许可证持有者C
30.7 %*23.6 %***
许可证持有者D
**20.5 %***
许可证持有者E
14.0 %*****
许可证持有者F
11.2 %*****
许可证持有者G
****15.9 %*
总计90.8 %90.8 %68.3 %79.1 %84.4 %47.5 %
* 少于10%
我们监控经济情况，以识别可能表明我们的应收账款中有哪些是无法收回的，或者合同资产是否应减值的事实或情况。 No 截至2024年9月30日或2023年12月31日，按照账面计提的信用损失准备金或合同资产减值。
最近未采纳的会计声明

2023年10月，财务会计准则委员会（“FASB”）发布了《会计准则更新》（“ASU”）2023-06，披露改进：对SEC披露更新和简化计划的规范修订。该ASU将会计准则法典（“ASC”）中的要求与美国证券交易委员会（“SEC”）宣布的撤销《S-X和S-k法规中的某些披露要求》进行了调整。 ASC中每个修订主题的有效日期要么是SEC从S-X或S-k法规中撤销相关披露要求的日期，要么是2027年6月30日，如果SEC在那个日期前没有撤销要求。不允许提前采用。我们目前正在评估新指南的影响，并不认为采纳ASU 2023-06会对我们的综合财务报表产生实质影响。
2023年11月，FASB发布了ASU 2023-07号文件，即《片段披露（主题280）：改进可披露片段披露的内容》。该ASU要求公共实体按季度和年度披露其可披露片段的重要费用和其他片段项目信息。只有一个可披露片段的公共实体必须按照ASU 2023-07中的披露要求，并在跨季度和年度基础上适用ASC 280中的所有现有片段披露和调节要求。ASU 2023-07自2023年12月15日后开始的财政年度起生效，并且自2024年12月15日后开始的财政年度内的中期时段起生效，允许提前采纳。我们目前正在评估采纳ASU 2023-07的影响。
2023年12月，FASB发布了ASU 2023-09，关于所得税（主题740）的增值：改进所得税披露。根据这项ASU要求，上市实体每年都要披露特定类别的税率。
6
目录
和解，以及按司法管辖区分类披露缴纳的所得税。 ASU 2023-09 适用于2024年12月15日后开始的财政年度，允许提前采纳。我们目前正在评估新指南的影响，并且预计 ASU 2023-09 的采纳不会对我们的合并财务报表产生实质影响。
2024年3月，FASB发布了ASU No. 2024-02《编码改进-修订稿，去除对概念声明的引用》。ASU 2024-02的修订澄清并简化了美国通用会计准则内对于某些概念声明的引用。ASU 2024-02将于2024年12月15日后开始的财政年度生效，允许提前适用。我们目前正在评估采纳ASU 2024-02的影响。
3. 金融工具的公允价值计量和公允价值
层次1-相同资产或负债的活跃市场上的报价。
一级在活跃市场上报价的相同资产或负债。
二级除了一级价格之外的可观察输入，例如类似资产或负债的报价价格，不活跃市场中的报价价格，或者其他可以通过资产或负债的全部期限实质性得到验证的可观察市场数据。
三级——由于市场活动较少或根本没有支持的不可观察输入，对资产或负债的公允价值具有重要影响。
以公允价值计量的资产和负债根据对公允价值测量具有重要影响的最低输入级别进行分类。我们对特定输入对于整体公允价值测量的重要性的评估，需要我们的管理层做出判断并考虑与资产或负债相关的因素。
我们的金融工具包括一级、二级和三级金融工具。我们通常将我们可交易证券分类为一级或二级。当可观察市场价格用于交易较不活跃的市场中的相同证券时，证券被分类为二级。当相同证券的可观察市场价格不可用时，这些证券会使用基准曲线、类似证券基准定价、板块分组、矩阵定价和估值模型进行定价。这些估值模型属于定价提供商或经纪商拥有，其中包括多个输入，按优先顺序大致为：基准收益率、报告的交易、经纪/经销商报价、发行人点差、双向市场、基准证券、竞价、报价以及包括市场研究出版物在内的参考数据。对于某些证券类型，可能会使用额外的输入，或者一些标准输入可能不适用。评估者可能会根据市场情况在任何给定日期为任何证券基于市场条件对输入排序，且并非所有列出的输入都可以用于任何给定日期进行证券估值的评估过程。观察估值输入能力的变化可能导致在公允价值层次内重新分类某些证券的级别。我们在引起转移的实际事件或导致转移发生的情况所在期间确认受影响公允价值层次内的转移。在2024年9月30日和2023年结束的九个月内并未发生此类转移。一级金融工具由货币市场基金投资和美国国债组成。二级金融工具由短期债券、公司债券和美国政府机构债券组成。当金融资产和负债的公允价值是通过定价模型、贴现现金流方法或类似技术确定，并且至少有一个重要的模型假设或输入是不可观察时，金融资产和负债被视为三级。三级金融工具包括MSKCC成功支付责任。
7
目录
以下表格列出了我们的金融工具，这些工具按照公平价值层次结构内的级别进行了定期估值（单位：千元）：
2024年9月30日的公允价值衡量
总计一级二级三级
资产：    
美国国债（$5,596 包括在现金及现金等价物中）
$193,812 $193,812 $— $— 
美国政府机构债券（$3,973 现金及现金等价物中包含）
31,515 — 31,515 — 
商业票据（$5,990 现金及现金等价物中包含）
30,203 — 30,203 — 
货币型基金投资（包含在现金及现金等价物中）16,411 16,411 — — 
企业债券9,074 — 9,074 — 
资产的总公允价值$281,015 $210,223 $70,792 $— 
负债：    
MSKCC成功支付责任负债$1,005 $— $— $1,005 
负债的总公平价值$1,005 $— $— $1,005 
 2023年12月31日的公允价值衡量
 总计一级二级三级
资产：    
美国国债（$23,527 包括在现金及现金等价物中）
$262,439 $262,439 $— $— 
商业票据 ($9,759 包括在现金及现金等价物中)
40,373 — 40,373 — 
美国政府机构债券
40,185 — 40,185 — 
货币市场基金投资 (包括在现金及现金等价物中)
17,876 17,876 — — 
企业债券
11,531 — 11,531 — 
资产的总公允价值$372,404 $280,315 $92,089 $— 
负债：    
MSKCC成功支付责任负债$2,939 $— $— $2,939 
负债的总公平价值$2,939 $— $— $2,939 
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目录
2024年9月30日和2023年12月31日的现金等价物、可供出售的证券的公允价值和摊销成本，按主要安防类型分类，在以下表格中呈现（以千为单位）：
 截至2024年9月30日
 
分期偿还的
成本基础
未实现的
收益
未实现的
亏损
预计
公正价值
美国国债（$5,596 现金及现金等价物中的一部分)
$193,198 $617 $(3)$193,812 
美国政府机构债券（$3,973 现金及现金等价物中的一部分)
31,380 136 (1)31,515 
商业本票（$5,990 现金及现金等价物中的一部分)
30,173 32 (2)30,203 
货币型基金投资（包含在现金等价物中）
16,411 — — 16,411 
企业债券9,064 10 — 9,074 
所有基金类型和可交易证券$280,226 $795 $(6)$281,015 
分类为:   
现金及现金等价物  $31,970 
短期可交易证券  196,208 
可交易证券, 长期  52,837 
所有基金类型和可交易证券  $281,015 
 截至2023年12月31日
 
分期偿还的
成本基础
未实现的
收益
未实现的
亏损
预计
公正价值
美国国债（$23,527 包括在现金及现金等价物中）
$262,328 $331 $(220)$262,439 
商业短期债券（$9,759 包括在现金及现金等价物中）
40,386 — (13)40,373 
美国政府机构债券
40,295 1 (111)40,185 
货币型基金投资（包括在现金等价物中）
17,876 — — 17,876 
企业债券
11,489 50 (8)11,531 
所有基金类型和可交易证券$372,374 $382 $(352)$372,404 
    
分类为:
现金及现金等价物$51,162 
短期可交易证券277,665 
可交易证券, 长期43,577 
所有基金类型和可交易证券$372,404 
以下表格显示了按合同到期日分类的可供出售的有价证券的公允价值（以千为单位）：
2024年9月30日
一年内到期$196,208 
1至5年内到期52,837 
总计$249,045 

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下表总结了我们三级财务责任的公允价值变化情况（以千为单位）：
 MSKCC 成功支付
负债
2023年12月31日结余为$2,939 
公允价值变动(1,934)
2024年9月30日的余额$1,005 
我们为MSKCC成功支付的责任按公允价值计量，变动被确认为其他收入的一部分，直至成功支付的责任支付或到期。我们记录了$0.21百万美元和0.1百万 作为其他收入的MSKCC成功支付责任公允价值变动的损失 分别为2024年和2023年截至9月30日的三个月内，我们在未经审计的综合损益简表中记录了MSKCC成功支付责任公允价值变动的损失$1.9万美元和0.4百万 作为其他收入的MSKCC成功支付责任公允价值变动的收益 在2024年和2023年9月30日结束的未经审计的简明综合损益表中，其他收益。
下表总结了用于估值MSKCC成功支付责任的关键假设。
 截至
12月31日,
2023
普通股的公允价值$5.73 
无风险利率
 3.88%
预期波动率
 79%
达到初始股票价格倍数的概率(1)
5.2可以降低至0.75%每年18.1%
预期剩余合同期限(年)
3.7至5.2
(1)斯隆·凯特琳癌症中心有权在特定时间段内，根据我们普通股的公允价值是否按照特定价值倍数增长而获得一定的成功支付，成功支付基于我们普通股的公允价值与$每股进行比较。（“初始股价”）。有关我们与斯隆·凯特琳癌症中心协议的更多信息，请参阅附在我们10-K表格中的合并财务报表附注4。5.1914 每股调整后的未来拆股并股比较（“初始股价”），如我们普通股的市场公允价值与后者相等，蒙特福证券交换公司有权获得一定的成功支付。有关我们与MSKCC的协议的更多信息，请参阅包括在我们的10-K表格中的合并财务报表的附注4。
预期波动率的计算是通过结合有关类似上市公司股票的历史波动率信息，与我们股票的历史波动率和隐含波动率相匹配的期间所估算得出的。无风险利率、预期波动率和预期期限假设取决于自我们Cb-012产品候选物的AMpLify阶段1临床试验启动（利用根据2020年11月13日与MSKCC（“MSKCC协议”）签订的独家许可协议下许可的专有技术和知识产权）直到该产品候选物获得美国食品和药物管理局（“FDA”）的上市许可的估计时机。此外，我们还考虑了在MSKCC成功支付责任的计算中估计的估值计算日期数量和时机。
截至2024年9月30日，我们未注意到任何重大变化影响了MSKCC成功支付责任公允价值计算中所使用的输入，除了我们的普通股公允价值变更为$1.96每股.
4. 重要协议。
自2023年12月31日起，我们重大协议的关键条款没有发生重大变化。有关我们重大协议的更多信息，请参阅包含在我们第10-K表格中的合并财务报表附注4。
在2023年9月30日结束的三个月内，我们确认了$21.5 百万美元营业收入，涉及截至2021年2月9日（经修改，“AbbVie协议”）与AbbVie制造业管理无限公司（“AbbVie”）的合作与许可协议，截至2023年9月30日的九个月内，我们确认了$24.5 百万美元的营业收入在AbbVie协议下确认。 No 截至2024年9月30日和12月31日，由于AbbVie协议于2023年10月25日生效终止，AbbVie协议在截至2024年9月30日的三个月和九个月内确认了营业收入。截至2024年9月30日和2023年12月31日，我们没有任何金额记录在
10
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我们合并资产负债表中与艾伯维公司协议相关的应收账款、合同资产或递延营业收入。
我们重要的协议可能包括不可退还的预付款； 年度许可证维护费； 转让费； 偿还专利申请和维护费的义务； 成功支付； 监管临床和商业里程碑； 以及版税支付。 我们作出此类支付的义务取决于里程碑的实现，许可产品的商业化，以及协议的继续有效。
截至2024年9月30日的三个月和2023年，我们在未经审计的综合损益表中将研发费用记录为$0.21百万美元和0.4百万美元，分别与我们的许可协议有关。截至2024年9月30日的九个月和2023年，我们在未经审计的综合损益表中将研发费用记录为$1.8万美元和1.2 百万美元，分别与我们的重要协议有关。截至2024年9月30日的三个月和2023年，我们在未经审计的综合损益表中将研发费用记录为$0.11百万美元和0.4百万美元，分别作为专利申请和维护成本的一般和行政费用，在未经审计的综合损益表中，其中包括专利申请和维护成本的退费$0.41百万美元和0.1截至2024年9月30日和2023年，我们分别记录了$0.5万美元和2.2 百万，作为专利申请和维护成本的一般和管理费用，在我们的未经审计的简明综合损益表中，其中包括专利申请和维护成本的报销$0.91百万美元和1.3百万。
截至2024年9月30日，某些许可和转让协议中包含了我们为了开发、监管和销售里程碑可能未来支付的金额，总计约为$159.9股票回购活动以及因员工基于股票的补偿目的而重新发行国库股的情况如下：
5. 营业收入
订阅和支持收入包括以下内容（以百万美元为单位）：
我们根据我们的许可证持有人和合作者的研发活动地点，将营业收入按地理市场进行了细分。 以下表格总结了截至2024年9月30日和2023年9月30日止三个和九个月的地理位置的营业收入（以千为单位）：
 截至9月30日的三个月截至9月30日的九个月
 2024202320242023
美国$1,657 $23,285 $7,370 $30,416 
世界其他地区367 377 547 503 
总计$2,024 $23,662 $7,917 $30,919 
截至2024年9月30日止三个月，我们确认了营业收入$1.4 百万与在某一时点履约的服务相关的营业收入，以及我们确认了百万与逐步履约的服务相关的营业收入$0.6 百万与逐步履约的服务相关的营业收入。
在2023年9月30日结束的三个月内，我们认定了$1.6 营业收入$百万与一时点交付的履约义务有关，我们认定了$22.1 百万的营业收入与随时间交付的履约义务有关，其中包括与现已终止的艾伯维公司协议关联的$百万许可和合作收入。21.5 百万的营业收入与随时间履行的履约义务相关，其中包括现在已终止的艾伯维公司协议关联的$百万许可和合作收入。
2024年9月30日结束的九个月内，我们确认了$营业收入6.0 百万美元的营业收入与一次性履约责任有关，并确认了$1.9 百万美元的营业收入与逐步履约责任有关。
截至2023年9月30日，我们认定了营业收入$5.8 百万，与一时性履约义务有关的营业收入，和我们确认了$25.1 百万，与逐步履行履约义务有关的营业收入，其中包括$24.5 百万来自于现已终止的艾伯维公司协议的许可和合作营业收入。
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合同余额
应收账款涉及我们对已完成（或部分完成）绩效义务的未来获得报酬的权利。我们的应收账款余额代表了我们向许可证持有人开具发票并且在报告期末尚未结算的金额。
合同资产是我们授予被许可人的许可证而产生的对价权利，当该权利存在除时间流逝以外的条件时。我们的合同资产余额代表报告期末未计费的其他许可协议中的版税和里程碑付款。
合同负债包括递延营业收入，与之相关的是发票给付的金额，或从受许可方所收取的预付款金，这些金额先于我们对相关履约义务的满足。截至2024年9月30日和2023年12月31日，我们的递延营收主要来源于与辉瑞公司（“Pfizer”）履约义务相关的预付款。其余的递延营收与受许可协议下收到的预付款相关，这些协议还包括不可退还的年度许可费，这些费用被视为许可续约的重要权益，并在受许可方付款并开始续约期时确认。
The following table presents changes in our contract assets and liabilities during the nine months ended September 30, 2024 (in thousands):
Balance as of
December 31,
2023		Additions
Deductions
Balance as of
September 30,
2024
Accounts receivable$148 $4,757 $(4,721)$184 
Contract assets:
Unbilled accounts receivable$1,425 $2,663 $(3,290)$798 
Contract liabilities:
Deferred revenue, current and long-term$8,949 $1,250 $(3,423)$6,776 
During the nine months ended September 30, 2024, and 2023, we recognized $2.2 million and $23.2 million of revenue, respectively, which was included in the opening contract liabilities balances at the beginning of the respective periods.
Transaction Prices Allocated to Remaining Performance Obligations
Remaining performance obligations represent in aggregate the amount of a transaction price that has been allocated to performance obligations not delivered as of the end of a reporting period. The value of transaction prices allocated to remaining unsatisfied performance obligations as of September 30, 2024, was approximately $6.8 million. We expect to recognize approximately $2.8 million of remaining performance obligations as revenue in the next 12 months and to recognize the remainder thereafter.
Capitalized Contract Acquisition Costs and Fulfillment Costs
We did not incur any expenses to obtain our existing contracts, and costs to fulfill those contracts do not generate or enhance our resources. As such, no costs to obtain or fulfill a contract have been capitalized in any period.
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6. Balance Sheet Items
Other receivables consisted of the following (in thousands):
 September 30,
2024		December 31,
2023
Patent cost reimbursements$936 $1,403 
Accrued interest on marketable securities747 702 
Other— 181 
Total$1,683 $2,286 
Prepaid expenses and other current assets consisted of the following (in thousands):
 September 30,
2024		December 31,
2023
Prepaid contract manufacturing and clinical costs$3,279 $3,942 
Prepaid insurance1,100 993 
Other2,204 1,220 
Total$6,583 $6,155 
Property and equipment, net, consisted of the following (in thousands):
 September 30,
2024		December 31,
2023
Lab equipment$18,276 $15,581 
Leasehold improvements11,493 2,235 
Computer equipment906 895 
Furniture and equipment697 499 
Construction in progress— 8,204 
Total property and equipment, gross31,372 27,414 
Less: accumulated depreciation and amortization(11,807)(9,144)
Property and equipment, net$19,565 $18,270 
Depreciation and amortization expenses related to property and equipment were $1.1 million and $1.6 million for the three months ended September 30, 2024, and 2023, respectively. Depreciation and amortization expenses related to property and equipment were $2.7 million and $2.8 million, for the nine months ended September 30, 2024, and 2023, respectively.
Accrued expenses and other current liabilities consisted of the following (in thousands):
 September 30,
2024		December 31,
2023
Accrued research and development expenses$12,150 $8,720 
Accrued employee compensation and related expenses7,087 9,517 
Accrued securities litigation settlement
3,900 — 
Accrued patent expenses839 613 
Accrued expenses related to sublicensing revenues483 802 
Credit card liability
16 377 
Other973 1,106 
Total$25,448 $21,135 
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7. Related Party Transactions
Since December 31, 2023, there have been no new related party transactions, except as set forth below. For further information regarding our related parties, see Note 7 to the consolidated financial statements included in our Form 10-K.
Pfizer Investment
During the three months ended September 30, 2024, we recognized $0.6 million of revenue from our Information Rights Agreement with Pfizer, dated June 29, 2023, pursuant to which we had originally allocated $7.5 million as a contract with a customer under ASC Topic 606. During the nine months ended September 30, 2024, we recognized $1.9 million of revenue from Pfizer. During each of the three- and nine-month periods ended September 30, 2023, we recognized $0.6 million of revenue from Pfizer. As of September 30, 2024, there was approximately $4.4 million of related party deferred revenue ($2.5 million included in current liabilities and $1.9 million included in long-term liabilities) related to our performance obligation to Pfizer. As of December 31, 2023, there was approximately $6.2 million of related party deferred revenue ($2.5 million included in current liabilities and $3.7 million included in long-term liabilities) related to our performance obligation to Pfizer.
Edge Animal Health
In June 2024, we received additional shares of convertible preferred stock pursuant to anti-dilution rights associated with the Exclusive License Agreement for Veterinary Therapeutics (as amended, “Edge chRDNA License Agreement”) with Edge Animal Health (“Edge”), a private company and related party. Edge issued 1,623,275 shares of convertible preferred stock to us with an estimated fair value of $1.6 million, based on management’s best estimate and judgment. The Edge chRDNA License Agreement is a contract with a customer under ASC 606. We did not recognize any revenue in connection with the Edge chRDNA License Agreement during the three months ended September 30, 2024. We recognized $1.6 million as revenue during the nine months ended September 30, 2024. We did not recognize any revenue in connection with the Edge chRDNA License Agreement in 2023.
On May 16, 2023, we entered into an Exclusive License Agreement for Veterinary Therapeutics (CRISPR-Cas9) (“Edge Cas9 License Agreement”), under which we granted Edge an exclusive worldwide license to certain CRISPR-Cas9 intellectual property rights in the field of veterinary therapeutics. Previously, on May 15, 2020, we entered into an Option for an Exclusive License under which Edge could exercise its option within three years upon payment of a total of $1.2 million, which option Edge exercised and paid $1.2 million, and we entered into the Edge Cas9 License Agreement. We did not recognize any revenue in connection with the Edge Cas9 License Agreement in 2024. We did not recognize any revenue in connection with the Edge Cas9 License Agreement during the three months ended September 30, 2023. We recognized $1.2 million of revenue in connection with the Edge Cas9 License Agreement during the nine months ended September 30, 2023.
8. Leases
Operating Lease Obligations
As of September 30, 2024, we had operating leases for our laboratory and office spaces in Berkeley, California, consisting of approximately 75,000 square feet, with remaining lease terms up to 7.8 years. Certain of our laboratory and office space lease agreements include options to extend the terms for a period of five years and also contain provisions for future rent increases. In addition to base rent, we pay our share of operating expenses and taxes.
The components of lease costs, which are included in our unaudited condensed consolidated statements of operations and comprehensive loss, were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Operating lease cost(1)
$1,950 $1,937 $5,822 $5,749 
Short-term lease cost63 63 188 188 
Total lease cost$2,013 $2,000 $6,010 $5,937 
(1)Includes $0.7 million of variable lease cost related to operating expenses and taxes for each of the three- month periods ended September 30, 2024, and September 30, 2023. Includes $2.0 million and $1.9 million of variable lease cost related to operating expenses and taxes for the nine months ended September 30, 2024, and 2023, respectively.
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Supplemental information related to our leases was as follows (in thousands):
Nine Months Ended September 30,
 20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$2,624 $2,597 
The following table summarizes the weighted-average remaining lease term and weighted-average discount rate for our corporate laboratory and office leases:
September 30,
2024		December 31,
2023
Weighted-average remaining lease term (years)6.77.4
Weighted-average discount rate11.3 %11.3 %
The following table summarizes a maturity analysis of our operating lease liabilities showing the aggregate lease payments as of September 30, 2024 (in thousands):
Remainder of 2024(1)
$797 
20254,411 
20265,720 
20275,922 
20286,122 
Thereafter15,993 
Total future undiscounted lease payments
38,965 
Less imputed interest(12,324)
Total discounted lease payments26,641 
Less current portion of lease liability(1,178)
Noncurrent portion of lease liability$25,463 
(1)Reflects an offset of $0.3 million related to incentives expected to be received in 2024.
9. Commitments and Contingencies
Research, Manufacturing, and License Agreements
We enter into various agreements in the ordinary course of business, such as those with contract manufacturing organizations (“CMOs”), suppliers, clinical research organizations (“CROs”), clinical trial sites, licensors, assignors, and the like. These agreements provide for termination by either party in certain circumstances, generally with less than one-year notice and are, therefore, cancellable contracts and, if cancelled, are not anticipated to have a material effect on our unaudited condensed consolidated financial condition, results of operations, or cash flows.
Some of these agreements also include contingent payments that will become payable if and when certain development, regulatory, clinical, and/or commercial milestones are achieved by us. As of September 30, 2024, satisfaction and timing of such contingent payments are uncertain and thus cannot be reasonably estimated.
Guarantees and Indemnifications
In the ordinary course of business, we enter into agreements that contain a variety of representations and warranties and provide for certain indemnifications by us. Our exposure under these agreements is unknown because claims may be made against us in the future. As of September 30, 2024, and December 31, 2023, we did not have any material indemnification claims that were probable or reasonably possible, and consequently, we have not recorded related liabilities.
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Litigation
From time to time, we may become involved in litigation arising in the ordinary course of business. We record a liability for such litigation when it is probable that future losses will be incurred and if such losses can be reasonably estimated. Significant judgment by us is required to determine both probability and the estimated amount.

On April 11, 2023, a putative class action lawsuit was filed in the U.S. District Court for the Northern District of California against our company and certain of our officers and current and former members of our board of directors, Bergman v. Caribou Biosciences, Inc., et al., Case Number 23-cv-01742 (“Bergman Case”). The Bergman complaint challenged disclosures regarding our company’s business, operations, and prospects, specifically with respect to the alleged durability of CB-010’s therapeutic effect and the product candidate’s clinical and commercial prospects, in alleged violation of Sections 11 and 15 of the Securities Act of 1933, as amended (“Securities Act”), and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”). On September 18, 2023, plaintiffs filed an amended complaint adding the initial public offering (“IPO”) underwriters as defendants and making substantially the same allegations as the original complaint. On November 14, 2023, we filed a motion to dismiss the amended complaint for failure to state a claim. Motion to dismiss briefing was completed on February 21, 2024. On April 22, 2024, we reached an agreement in principle with plaintiffs to settle the Bergman Case for $3.9 million, which was included in general and administrative expense for the three months ended March 31, 2024, in exchange for a full release of the putative class’s claims against us and all our current and former officers, current and former members of our board of directors, the IPO underwriters, and the other named defendant. The parties filed a settlement agreement with the court on June 26, 2024, and, on October 15, 2024, the court issued an order preliminarily approving the settlement and setting a final settlement approval hearing for February 18, 2025.
10. Common Stock
Common stock reserved for future issuances consisted of the following:
As of
September 30, 2024		As of
December 31, 2023
Stock options, issued and outstanding11,611,364 9,410,404 
Stock options, authorized for future issuances6,827,620 5,952,012 
Stock available under ESPP2,139,666 1,516,355 
Unvested RSUs and PSUs1,302,846 205,357 
Total common stock reserved for future issuances21,881,496 17,084,128 
Shelf Registration Statement
On August 9, 2022, we filed a shelf registration statement on Form S-3 (“Shelf Registration Statement”) with the SEC. The Shelf Registration Statement allows us to sell from time to time up to $400.0 million of common stock, preferred stock, debt securities, warrants, rights, or units comprised of any combination of these securities, for our own account in one or more offerings (including the $100.0 million of common stock reserved for our at-the-market equity offering program). The SEC declared the Shelf Registration Statement effective on August 16, 2022. The terms of any offering under the Shelf Registration Statement will be established at the time of such offering, as described in a prospectus supplement to the Shelf Registration Statement to be filed with the SEC prior to the completion of any such offering.
In July and August 2023, we issued and sold a total of 22,115,384 shares of our common stock in an underwritten follow-on public offering at a price to the public of $6.50 per share, which included the full exercise of the underwriters’ right to purchase 2,884,615 additional shares of our common stock. The total gross proceeds from the offering were approximately $143.7 million ($134.4 million net of underwriting discounts and commissions and offering expenses). The shares were issued pursuant to the Shelf Registration Statement.
At-the-market Equity Offering Program
On August 9, 2022, we entered into an at-the-market Open Market Sale AgreementSM (“ATM Sales Agreement”) with Jefferies LLC (“Jefferies”), pursuant to which, through Jefferies as sales agent, we may from time to time, sell shares of our common stock having an aggregate offering price of up to $100.0 million in gross proceeds under the Shelf Registration Statement. As of September 30, 2024, we have sold 1,762,806 shares of our common stock under the ATM Sales Agreement, at an average price per share of $7.32 for aggregate gross proceeds of $12.9 million ($12.3 million net of offering expenses).
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11. Stock-Based Compensation
Equity Incentive Plans
In July 2021, our board of directors adopted, and our stockholders approved, the 2021 Equity Incentive Plan (“2021 Plan”) that became effective on July 22, 2021. As of September 30, 2024, we had 6,827,620 shares available for issuance under the 2021 Plan.
The following table summarizes stock option activity under our equity incentive plans during the nine months ended September 30, 2024:
Stock Options Weighted-
Average
Exercise Price		Weighted-
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic Value (in thousands)(1)
Outstanding at December 31, 20239,410,404$8.03 8.0$6,432 
Options granted3,528,7025.97  
Options exercised(182,217)3.39  
Options cancelled or forfeited(1,145,525)8.35  
Outstanding at September 30, 202411,611,364$7.44 7.4$41 
Exercisable at September 30, 20245,810,961$8.03 6.1$41 
Vested and expected to vest at September 30, 202411,611,364$7.44 7.4$41 
(1)The aggregate intrinsic value is calculated as the difference between the stock option exercise price and the estimated fair value of the underlying common stock at the end of each reporting period referenced above.
Grant Date Fair Value
During the three months ended September 30, 2024, and 2023, we granted 391,525 and 384,095 stock options to employees with a weighted average grant date fair value of $1.49 and $3.64, respectively. During the nine months ended September 30, 2024, and 2023, we granted 3,528,702 and 3,406,801 stock options to employees with a weighted average grant date fair value of $4.09 and $3.91, respectively.
We estimated the fair value of each employee stock option award on the grant date using the Black-Scholes option-pricing model based on the following assumptions:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Volatility75.8%
74.2% to 74.6%
75.7% to 75.9%
74.2% to 75.0%
Expected term (in years)6.06.0
5.0 to 6.0
5.0 to 6.0
Risk-free interest rate
3.7% to 3.8%
4.1% to 4.6%
3.7% to 4.5%
3.5% to 4.6%
Expected dividend yield0.0%0.0%0.0%0.0%
As of September 30, 2024, there was $24.5 million of unrecognized stock-based compensation expense related to employee stock options that is expected to be recognized over a weighted-average period of 2.6 years.
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Restricted Stock Units
During the nine months ended September 30, 2024, we granted 1,342,842 restricted stock units (“RSUs”) to employees, and we did not grant any performance-based RSUs (“PSUs”) to employees under the 2021 Plan. A summary of the status of and change in unvested RSUs and PSUs as of September 30, 2024, was as follows:
Number of Shares Underlying Outstanding RSUs and PSUsWeighted-Average Grant Date Fair Value per RSU and PSU
Unvested, January 1, 2024205,357$8.49 
Granted1,342,8425.71
Vested(66,173)10.07
Forfeited(179,180)7.17
Unvested, September 30, 20241,302,846$5.73 
On August 22, 2022, we granted PSUs to our executive officers, which will vest contingent upon the achievement of a clinical milestone for CB-010 during a performance period ending December 31, 2024, and the executive officer’s continued employment during the performance period. As of September 30, 2024, the achievement of this milestone was not considered probable and, therefore, no stock-based compensation was recorded.
As of September 30, 2024, the total unrecognized stock-based compensation expense related to unvested RSUs was $5.7 million, which is expected to be recognized over the remaining weighted-average vesting period of 2.9 years. As of September 30, 2024, there was approximately $0.4 million of unrecognized stock-based compensation expense related to unvested PSUs.
Employee Stock Purchase Plan (“ESPP”)
In July 2021, our board of directors adopted, and our stockholders approved, the ESPP, which became effective on July 22, 2021. We issued 468,745 shares of common stock under the ESPP as of September 30, 2024. We recorded $0.1 million in accrued liabilities related to contributions withheld as of September 30, 2024.
Stock-Based Compensation Expense
We recorded stock-based compensation expense related to employee equity-based awards grants in our unaudited condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Research and development$1,638 $1,464 $5,248 $4,324 
General and administrative2,431 2,014 7,547 5,870 
Total$4,069 $3,478 $12,795 $10,194 
The above stock-based compensation expense related to the following equity-based awards (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Stock options$3,530 $3,188 $10,909 $9,188 
ESPP80 96 309 427 
RSUs459 194 1,577 579 
Total$4,069 $3,478 $12,795 $10,194 
12. 401(k) Savings Plan
In 2017, we established a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code of 1986, as amended (“Tax Code”). Our 401(k) plan is available to all employees and allows participants to defer a portion of
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their annual compensation on a pretax basis subject to applicable laws. We also provide a 4% match for employee contributions up to a certain limit. During the nine months ended September 30, 2024, and 2023, we contributed $0.9 million and $0.8 million, respectively, to our 401(k) plan.
13. Income Taxes
No income tax expense was recorded during each of the three- and nine-month periods ended September 30, 2024, and 2023 due to our operating losses.
14. Net Loss Per Share
The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Numerator:
Net loss$(34,684)$(10,002)$(113,615)$(67,565)
Denominator:
Weighted-average common shares outstanding used to compute net loss per share, basic and diluted90,455,900 83,783,992 90,034,799 68,878,921 
Net loss per share, basic and diluted$(0.38)$(0.12)$(1.26)$(0.98)
Because we were in a net loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods, as the inclusion of all common stock equivalents outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:
As of
September 30,
2024		As of
September 30,
2023
Stock options outstanding11,611,3649,523,394
RSUs issued and outstanding
1,259,377168,438
Shares committed under ESPP304,434134,276
13,175,1759,826,108
15. Restructuring Charge
On July 16, 2024, we announced that we had discontinued preclinical research activities associated with our allogeneic CAR-NK platform and reduced our workforce by 21 positions, or approximately 12%. The workforce reduction was completed during the third quarter of 2024. As a result, we recorded a total of $0.6 million in non-recurring restructuring charges during the three months ended September 30, 2024, consisting primarily of cash severance costs, continuation of benefits, and transition support services for impacted employees.
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
You should read the following discussion and analysis of our financial condition and results of operations together with our unaudited condensed consolidated financial statements and the related notes included in Part I, Item 1, of this Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 (“Form 10-Q”) and with the audited consolidated financial statements and the related notes for the fiscal year ended December 31, 2023 included in our Annual Report on Form 10-K (“Form 10-K”) filed with the U.S. Securities and Exchange Commission (“SEC”) on March 11, 2024.
Special Note Regarding Forward-Looking Statements
This Form 10-Q contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”). All statements, other than statements of historical facts, contained in this Form 10-Q are forward-looking statements, including statements regarding our business strategy, plans, and objectives; expectations regarding our clinical and preclinical development programs, including our expectations about the timing of such programs; the expected timing of disclosure of clinical data from such programs; the safety, efficacy, and potential advantages of our product candidates; future regulatory filings and interactions with regulatory authorities; our results of operations and financial position; and plans and objectives of management for future operations. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words.
As a result of many factors, including but not limited to risks related to our limited operating history, history of net operating losses, financial position and our ability to raise additional capital as needed to fund our operations and product candidate development; risks inherent in the development of cell therapy products; risks associated with the initiation, cost, timing, progress, and results of current and future research and development programs, preclinical studies, and clinical trials; the risk that initial, preliminary, or interim clinical trial data will not ultimately be predictive of the safety and efficacy of our product candidates or that clinical outcomes may differ as patient enrollment continues and as more clinical data becomes available or different conclusions or considerations are reached once additional data have been received and fully evaluated; the risk that preclinical study results will not be borne out in human patients; risks related to our ability to obtain and maintain regulatory approval for our product candidates; risks that our product candidates, if approved, may not gain market acceptance due to negative public opinion and increased regulatory scrutiny of cell therapies involving genome editing; risks related to our ability to meet future regulatory standards with respect to our products; risks related to our ability to establish and/or maintain intellectual property rights covering our product candidates and genome-editing technology; risks of third parties asserting that our product candidates infringe their patents; risks related to developments of our competitors and our industry; risks related to our reliance on third parties to conduct our clinical trials and manufacture our product candidates; risks caused by public health crises or geopolitical events on our business and operations; and other risks described in greater detail in the section of our Form 10-K titled “Risk Factors,” and in other filings we make with the SEC, the events and circumstances reflected in our forward-looking statements may not be achieved or may not occur, and actual results could differ materially from those described in or implied by the forward-looking statements. As a result of these risks, you should not place undue reliance on these forward-looking statements. We assume no obligation to revise or update any forward-looking statements for any reason, except as required by law.
Overview
We are a clinical-stage Clustered Regularly Interspaced Short Palindromic Repeats (“CRISPR”) genome-editing biopharmaceutical company dedicated to developing transformative therapies for patients with devastating diseases. Our genome-editing platform, including our novel chRDNA (CRISPR hybrid RNA-DNA, or “chRDNA,” pronounced “chardonnay”) technology, enables more precise genome editing to develop cell therapies that are armored to improve activity against diseases. We are advancing a pipeline of allogeneic, or off-the-shelf, cell therapies from our chimeric antigen receptor (“CAR”) T (“CAR-T”) cell platform as readily available therapeutic treatments for patients.
We are currently focused on advancing our allogeneic cell therapies for the treatment of hematologic malignancies and autoimmune diseases. Our therapies are directed at established cell surface targets for which autologous CAR-T cell therapeutics have already demonstrated clinical proof of concept, including CD19 and B cell maturation antigen (“BCMA”), as well as other targets such as C-type lectin-like molecule-1 (“CLL-1,” also known as CD371). We use our
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chRDNA technologies to armor our cell therapies through multiple genome-editing strategies, such as checkpoint disruption, immune cloaking, or a combination of these two strategies, to enhance activity against devastating diseases.

Our lead product candidate, CB-010, is an allogeneic anti-CD19 CAR-T cell therapy that is being evaluated in patients with relapsed or refractory large B cell non-Hodgkin lymphoma (“r/r B-NHL”) in our ongoing ANTLER phase 1 clinical trial. To our knowledge, CB-010 is the first clinical-stage allogeneic anti-CD19 CAR-T cell therapy with programmed cell death protein 1 (“PD-1”) removed from the CAR-T cell surface by a genome-edited knockout of the PDCD1 gene.
In our ANTLER phase 1 clinical trial, 16 patients with multiple subtypes of aggressive r/r B-NHL were enrolled in the dose escalation portion of the clinical trial, and three dose levels of CB-010 were evaluated: dose level 1 (40x106 viable CAR-T cells, n=8), dose level 2 (80x106 viable CAR-T cells, n=5), and dose level 3 (120x106 viable CAR-T cells, n=3). Following the conclusion of the dose escalation portion of our ANTLER clinical trial, we began enrolling second-line (“2L”) large B cell lymphoma (“LBCL”) patients in the dose expansion phase of our ANTLER clinical trial, which is still ongoing. Dose level 2 (80x106 viable CAR-T cells) was selected as the recommended phase 2 dose (“RP2D”). In early June 2024, we presented safety, efficacy, and translational data for the first 46 patients evaluated in our ANTLER phase 1 clinical trial during a poster presentation at the 2024 American Society of Clinical Oncology (“ASCO”) Annual Meeting. CB-010 was generally well-tolerated with adverse events as expected for anti-CD19 CAR-T cell therapies. A retrospective analysis of the ANTLER clinical trial data showed that patients who received a dose of CB-010 manufactured from a healthy donor who shared four or more matching human leukocyte antigen (“HLA”) alleles with the patient (referred to as “partial HLA matching”) demonstrated the potential for improved efficacy. Based on these data, we have begun dosing a cohort of approximately 20 2L LBCL patients to prospectively evaluate whether partial HLA matching improves patient outcomes. In addition, we are enrolling approximately 10 patients who have relapsed following any prior CD19-targeted therapy in a proof-of-concept cohort, which will also incorporate partial HLA matching. We plan to report initial data from both cohorts in the first half of 2025. Upon confirmation of improved outcomes in 2L LBCL patients receiving a partially HLA matched dose of CB-010, we expect to initiate a pivotal phase 3 clinical trial in the second half of 2025, following agreement with the U.S. Food and Drug Administration (“FDA”) on a pivotal trial design. CB-010 received regenerative medicine advanced therapy (“RMAT”) designation for relapsed or refractory LBCL, fast track designation for r/r B-NHL, and orphan drug designation for follicular lymphoma (“FL”) from the FDA.

We are expanding our clinical development of CB-010 to include autoimmune diseases, and we plan to evaluate CB-010 in our multicenter, open label, GALLOP phase 1 clinical trial in adult patients with lupus nephritis (“LN”) and extrarenal lupus (“ERL”), which will incorporate partial HLA matching. We expect to initiate our GALLOP clinical trial by year-end 2024. CB-010 received fast track designation for refractory systemic lupus erythematosus (“SLE”) from the FDA.

Our second product candidate, CB-011, is an allogeneic CAR-T cell therapy that is, to our knowledge, the first anti-BCMA CAR-T cell therapy incorporating an immune cloaking approach that includes both the removal of the endogenous beta-2 microglobulin (“B2M”) protein and insertion of a beta-2-microglobulin–human-leukocyte-antigen-E–peptide transgene (“B2M–HLA-E”). This strategy is designed to reduce CAR-T cell rejection by both patient T cells and natural killer (“NK”) cells to potentially enable more durable antitumor activity. CB-011 is being evaluated in our CaMMouflage phase 1 clinical trial in adult patients with relapsed or refractory multiple myeloma (“r/r MM”), and we are currently enrolling patients in the dose escalation portion of the CaMMouflage trial. Recently, we implemented a lymphodepletion regimen that includes a higher dose of cyclophosphamide than was part of the original protocol, and we plan to present initial dose escalation data from our CaMMouflage phase 1 clinical trial in the first half of 2025. CB-011 received fast track and orphan drug designations for r/r MM from the FDA.

The third product candidate from our CAR-T cell platform is CB-012, an allogeneic CAR-T cell therapy targeting CLL-1. CB-012 is, to our knowledge, the first allogeneic CAR-T cell therapy with both checkpoint disruption and immune cloaking strategies. We believe that CLL-1 is an attractive target for acute myeloid leukemia (“AML”) due to its expression on myeloid cancer cells, its enrichment on leukemic stem cells, and its absence on hematopoietic stem cells (“HSCs”). CB-012 is being evaluated in our AMpLify phase 1 clinical trial in adult patients with relapsed or refractory AML (“r/r AML”), and we are currently enrolling patients in the dose escalation portion of the AMpLify phase 1 trial. We plan to provide updates on dose escalation as our AMpLify phase 1 clinical trial advances. CB-012 received fast track and orphan drug designations for r/r AML from the FDA.
Since our founding in 2011, we have devoted substantially all our resources to organizing and staffing, business planning, raising capital, expanding our genome-editing platform technologies, developing our product candidates and building our pipeline, creating and maintaining our intellectual property portfolio, and establishing arrangements with third parties for the manufacture, testing, and clinical trial evaluations of our product candidates. We do not have any products
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approved for commercial sale and have not generated any revenue from product sales. We have incurred operating losses since commencement of our operations.
To date, we have primarily funded our operations through proceeds from the sales of our capital stock, revenue from our license and collaboration agreements, and proceeds from the sale of shares of Intellia Therapeutics, Inc. (“Intellia”) common stock.
Our net losses for the three months ended September 30, 2024, and 2023, were $34.7 million and $10.0 million, respectively. Our net losses for the nine months ended September 30, 2024, and 2023, were $113.6 million and $67.6 million, respectively. We had an accumulated deficit of $412.9 million as of September 30, 2024. Our net losses and operating losses may fluctuate from quarter to quarter and year to year depending primarily on the timing of expenses associated with our clinical trials and nonclinical studies and our other research and development expenses. We anticipate that our expenses will increase substantially as we:
•advance clinical trials for our CAR-T cell therapy product candidates;
•continue our current research programs and our preclinical and clinical development of our current product candidates and any other product candidates we identify and choose to develop;
•further develop our genome-editing technologies;
•acquire or in-license new technologies;
•expand, maintain, enforce, and defend our intellectual property portfolio;
•seek regulatory and marketing approvals for any of our product candidates that successfully complete clinical trials, if any;
•establish and expand manufacturing capabilities and supply chain capacity for our product candidates;
•add operational, legal, financial, and management information systems to support growth initiatives;
•hire additional personnel as we advance our product candidates;
•experience any delays, challenges, or other issues associated with any of the above, including the failure of clinical trials meeting endpoints, the generation of unanticipated preclinical study results or clinical trial data subject to differing interpretations, or the occurrence of potential safety issues or other development or regulatory challenges;
•make royalty, milestone, or other payments under current, and any future, in-license or assignment agreements;
•establish a sales, marketing, and distribution infrastructure to commercialize any product candidates for which we obtain regulatory approval; and
•continue to operate as a public company.

We do not own or operate any manufacturing facilities. We use multiple contract manufacturing organizations (“CMOs”) to individually manufacture, under current good manufacturing processes, our chRDNA guides, Cas9 and Cas12a proteins, plasmids, and adeno-associated virus serotype 6 (“AAV6”) vectors used in the manufacture of our cell therapy product candidates as well as the CAR-T cell therapy product candidates themselves. We expect to continue to rely on CMOs for the manufacturing of our preclinical study and clinical trial materials, and most of our current CMOs have capabilities for commercial manufacturing. Additionally, we may decide to bring certain manufacturing functions in house and/or build our own manufacturing facility in the future to provide greater flexibility and control over our clinical and commercial manufacturing needs.
Because of the numerous risks and uncertainties associated with therapeutic product development, we may never achieve profitability and, unless and until we are able to develop and commercialize our product candidates, we will need to continue to raise additional capital. Until we can generate significant revenue from product sales, if ever, we expect to finance our operations through equity offerings (including our at-the-market equity offering program), debt financings, collaborations and strategic alliances, licensing arrangements, or other sources. There are no assurances that we will be successful in obtaining an adequate level of financing to support our business plans as needed on acceptable terms, or at all. If we raise additional funds through collaborations, strategic alliances, or licensing arrangements with third parties, we may have to relinquish valuable rights to our intellectual property, future revenue streams, research programs, or product candidates or grant licenses on terms that may not be favorable to us. If we are unable to raise capital as and when needed
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or on attractive terms, we may have to significantly delay, reduce, or discontinue the development and commercialization of our product candidates or scale back or terminate our pursuit of new in-licenses and acquisitions.
On July 16, 2024, we announced that we had discontinued preclinical research activities associated with our allogeneic CAR-NK platform and had reduced our workforce by 21 positions, or approximately 12%. This workforce reduction, together with other cost containment measures, is expected to extend our cash runway by at least six months into the second half of 2026, which will enable us to focus resources on our allogeneic CAR-T cell therapy platform and on rapidly advancing our four oncology and autoimmune disease clinical programs through certain milestones expected in 2025. In connection with the workforce reduction, we recorded a total of $0.6 million in non-recurring restructuring charges during the three months ended September 30, 2024, consisting primarily of cash severance costs, continuation of benefits, and transition support services for impacted employees.
Components of Results of Operations
Licensing and Collaboration Revenue
We have not generated any revenue from product sales to date and do not expect to generate any revenue from the sale of products in the foreseeable future. If our development efforts for our product candidates are successful and result in regulatory approval and commercialization, we may generate revenue in the future from product sales. We cannot predict if, when, or to what extent we will generate revenue from the commercialization and sale of our product candidates if we succeed in obtaining regulatory approval for these product candidates.
To date, all our revenue consists of licensing and collaboration revenue earned from collaboration and/or licensing agreements entered into with third parties, including related parties. Under these agreements, we license rights to certain intellectual property controlled by us. The terms of these arrangements typically include payments to us of one or more of the following: nonrefundable, upfront license fees or exclusivity fees; annual maintenance fees; regulatory and/or commercial milestone payments; research and development payments; and royalties on the net sales of products and/or services. Each of these payments results in licensing and collaboration revenue. Revenue under such licensing and collaboration agreements was $2.0 million and $23.7 million for the three months ended September 30, 2024, and 2023, respectively, and $7.9 million and $30.9 million for the nine months ended September 30, 2024, and 2023, respectively. See Notes 4, 5, and 7 to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q for additional information.
For additional information about our revenue recognition policy related to our licensing and collaboration agreements, see Note 2 to the consolidated financial statements included in our Form 10-K.
For the foreseeable future, we expect substantially all our revenue will be generated from licensing and collaboration agreements.
Operating Expenses
Research and Development Expenses
Our research and development expenses consist of internal and external expenses incurred in connection with the development of our product candidates and our platform technologies, and our in-licensing, assignment, and other third-party agreements.
External costs include:
•costs associated with acquiring technology and intellectual property licenses that have no alternative future uses, sublicensing revenues, and milestones;
•costs incurred in connection with the preclinical and clinical development and manufacturing of our product candidates, including under agreements with CMOs, suppliers, clinical research organizations (“CROs”), and clinical sites; and
•other research and development costs, including laboratory materials and supplies, and consulting services.
Internal costs include:
•personnel-related costs, including salaries, benefits, and share-based compensation expense, for our research and development personnel; and
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•allocated facilities and other overhead expenses, including expenses for rent, facilities maintenance, and depreciation.
We expense research and development costs as incurred. Costs of certain activities are recognized based on an evaluation of the progress to completion of specific tasks. However, payments made prior to the receipt of goods or services that will be used or rendered for future research and development activities are deferred and capitalized as prepaid expenses and other current assets on our unaudited condensed consolidated balance sheets. The capitalized amounts are recognized as expenses as the goods are delivered or as related services are performed. We separately track certain external costs on a program-by-program basis; however, we do not track costs that are deployed across multiple programs.
Research and development activities are central to our business strategy. Product candidates in later stages of clinical development generally have higher development costs than those in earlier stages of clinical development, primarily due to the increased size and duration of later-stage clinical trials. We expect that our research and development expenses will increase substantially for the foreseeable future as we continue to implement our business strategy; advance our product candidates through clinical trials and later stages of development; conduct preclinical studies and clinical trials for our other product candidates; seek regulatory approvals for any product candidates that successfully complete clinical trials; and seek to identify, in-license, acquire, and/or develop additional product candidates.
The successful development of our CAR-T cell therapy product candidates, as well as other potential future product candidates, is highly uncertain. Accordingly, we cannot reasonably estimate or know the nature, timing, and costs of the efforts that will be necessary to complete the development of our product candidates. We are also unable to predict when, if ever, we will generate revenue and material net cash inflows from the commercialization and sale of any of our product candidates for which we may obtain regulatory approval. We may never succeed in achieving regulatory approval for any of our product candidates. The duration, costs, and timing of preclinical studies, clinical trials, and development of our product candidates will depend on a variety of factors, including:
•sufficiency of our financial and other resources;
•acceptance of our CRISPR chRDNA genome-editing technology and other new technologies we may develop or in-license;
•the ability to develop differentiating features so that our products have a competitive edge;
•establishment, maintenance, enforcement, and defense of our patents and other intellectual property rights;
•the ability to not infringe, misappropriate, or otherwise violate third-party intellectual property rights;
•clearance of IND applications to initiate clinical trials on new product candidates;
•successful enrollment in, and completion of, our clinical trials on our product candidates;
•generation of data from our clinical trials that support an acceptable risk-benefit profile of our product candidates for the intended patient populations and that demonstrate safety and efficacy;
•entry into collaborations to further the development of our product candidates or for the development of new product candidates;
•successful development of our internal process development and transfer to CMOs;
•maintenance of, and compliance with, our agreements with CMOs and suppliers for clinical and commercial supplies and scaling up manufacturing processes and capabilities to support our clinical trials;
•receipt of marketing approvals from applicable regulatory authorities;
•grant of regulatory exclusivity for our product candidates;
•establishment of sales, marketing, and distribution capabilities necessary for commercialization of our product candidates if and when approved by the applicable regulatory authorities, whether by us or in collaboration with third parties;
•maintenance of a continued acceptable safety profile of our products post-approval;
•acceptance of our product candidates, if and when approved by the applicable regulatory authorities, by patients, the medical community, and third-party payors;
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•ability of our products to compete with other therapies and treatment options;
•establishment and maintenance of healthcare coverage and adequate reimbursement; and
•expanded indications and patient populations for our products.
The following table summarizes our research and development expenses for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(in thousands)(in thousands)
External costs:
Expenses related to licenses, sublicensing revenue, and milestones
$375 $968 $4,429 $2,141 
Services provided by CROs, CMOs, and third parties that conduct preclinical studies and clinical trials on our behalf
13,060 11,928 37,215 32,345 
Other research and development expenses3,655 3,352 18,065 12,181 
Total external costs17,090 16,248 59,709 46,667 
Internal costs:
Personnel-related expenses9,869 8,836 30,344 25,702 
Facilities and other allocated expenses3,462 3,500 9,636 8,427 
Total internal costs13,331 12,336 39,980 34,129 
Total research and development expenses$30,421 $28,584 $99,689 $80,796 
General and Administrative Expenses
Our general and administrative expenses consist primarily of personnel-related costs, intellectual property costs, consulting costs, and allocated overhead, including rent, equipment depreciation, and utilities. Personnel-related costs consist of salaries, benefits, and stock-based compensation for our general and administrative personnel. Intellectual property costs include expenses for filing, prosecuting, and maintaining patents and patent applications, including certain patents and patent applications that we license from third parties. We are entitled to receive reimbursement from third parties of a portion of the costs for filing, prosecuting, and maintaining certain patents and patent applications. We accrue for these reimbursements as the respective expenses are incurred and classify such reimbursements as a reduction of general and administrative expenses. During the three months ended September 30, 2024, and 2023, we recorded $0.4 million and $0.2 million, respectively, of patent cost reimbursements as a reduction to general and administrative expense. During the nine months ended September 30, 2024, and 2023, we recorded $0.9 million and $1.3 million, respectively, of patent cost reimbursements as a reduction to general and administrative expense.
We expect that our general and administrative expenses will increase in the future as a result of expanding our operations, including preparing for potential commercialization of our product candidates, and additional facility occupancy costs, as well as other expenses necessary to support the growth and operations of a clinical-stage public company.
Other Income
Other income consists primarily of interest income earned on cash and marketable securities and the change in fair value of the Memorial Sloan Kettering Cancer Center (“MSKCC”) success payments liability under our Exclusive License Agreement, dated November 13, 2020, with MSKCC (“MSKCC Agreement”).
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Results of Operations
Comparison of the Three Months Ended September 30, 2024, and 2023
The following table summarizes our results of operations for the periods indicated:
Three Months Ended September 30,
20242023Change
(in thousands)
Licensing and collaboration revenue$2,024 $23,662 $(21,638)
Operating expenses:
Research and development30,421 28,584 1,837 
General and administrative9,841 9,711 130 
Total operating expenses40,262 38,295 1,967 
Loss from operations(38,238)(14,633)(23,605)
Other income:
Change in fair value of equity securities(14)(4)(10)
Change in fair value of the MSKCC success payments liability(164)(139)(25)
Other income, net3,732 4,774 (1,042)
Total other income3,554 4,631 (1,077)
Net loss$(34,684)$(10,002)$(24,682)
Licensing and Collaboration Revenue

Licensing and collaboration revenue decreased by $21.6 million to $2.0 million for the three months ended September 30, 2024, from $23.7 million for the three months ended September 30, 2023. This decrease was primarily related to a decrease of $21.5 million of revenue recognized under the now-terminated Collaboration and License Agreement, dated February 9, 2021 (as amended, “AbbVie Agreement”) with AbbVie Manufacturing Management Unlimited Company (“AbbVie”).
The following table summarizes our revenue by licensee for the periods indicated:
Three Months Ended September 30,
20242023Change
(in thousands)
AbbVie$— $21,476 $(21,476)
Pfizer, related party
622 622 — 
Other licensees1,402 1,564 (162)
Total licensing and collaboration revenue
$2,024 $23,662 $(21,638)
Research and Development Expenses
Research and development expenses increased by $1.8 million to $30.4 million for the three months ended September 30, 2024, from $28.6 million for the three months ended September 30, 2023. This increase was primarily related to (i) a net increase of $1.1 million in external CMO and CRO activities for our clinical CAR-T cell therapy product candidates, driven by (a) an increase of $1.4 million in CRO activities for clinical trials; partially offset by (b) a decrease of $0.3 million due to timing of CMO activities; (ii) an increase of $1.0 million in personnel-related expenses, including stock-based compensation, primarily due to severance and other related expenses recorded as a result of the July 2024 workforce reduction; and (iii) an increase of $0.3 million in other research and development expenses to advance preclinical and clinical research for our programs, as well as other consulting services related to research and development; partially offset by a decrease of $0.6 million in expenses related to licenses, sublicensing revenue, and milestones.
General and Administrative Expenses

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General and administrative expenses increased by $0.1 million to $9.8 million for the three months ended September 30, 2024, from $9.7 million for the three months ended September 30, 2023. This increase was primarily related to increases of $0.4 million in patent prosecution and maintenance costs; partially offset by a decrease of $0.3 million in legal and other service-related expenses.
Total Other Income
Total other income decreased by $1.1 million for three months ended September 30, 2024, as compared to the three months ended September 30, 2023.
We recognized a loss related to the change in the fair value of the MSKCC success payments liability in the amount of $0.2 million and $0.1 million, for the three months ended September 30, 2024, and 2023, respectively.
Other income, net decreased by $1.0 million during the three months ended September 30, 2024, compared to September 30, 2023. This decrease was primarily related to a $1.0 million decrease in interest income earned from marketable securities.
Comparison of the Nine Months Ended September 30, 2024, and 2023
The following table summarizes our results of operations for the periods indicated:
Nine Months Ended September 30,
20242023Change
(in thousands)
Licensing and collaboration revenue$7,917 $30,919 $(23,002)
Operating expenses:
Research and development99,689 80,796 18,893 
General and administrative35,969 28,740 7,229 
Total operating expenses135,658 109,536 26,122 
Loss from operations(127,741)(78,617)(49,124)
Other income:
Change in fair value of equity securities(116)3 (119)
Change in fair value of the MSKCC success payments liability1,934 395 1,539 
Other income, net12,308 10,654 1,654 
Total other income14,126 11,052 3,074 
Net loss$(113,615)$(67,565)$(46,050)
Licensing and Collaboration Revenue

Licensing and collaboration revenue decreased by $23.0 million to $7.9 million for the nine months ended September 30, 2024, from $30.9 million for the nine months ended September 30, 2023. This decrease was primarily related to a decrease of $24.5 million in revenue recognized under the now-terminated AbbVie Agreement; partially offset by (i) an increase of $1.2 million in revenue recognized under our Information Rights Agreement with Pfizer, dated June 29, 2023; and (ii) a net increase of $0.5 million in revenue recognized under our agreements with Edge, driven by (a) an increase of $1.6 million related to the Edge chRDNA License Agreement; partially offset by (b) a decrease of $1.2 million related to the Edge Cas9 License Agreement.
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The following table summarizes our revenue by licensee for the periods indicated:
Nine Months Ended September 30,
20242023Change
(in thousands)
AbbVie$— $24,458 $(24,458)
Edge Animal Health, related party
1,623 1,150 473 
Pfizer, related party
1,865 622 1,243 
Other licensees4,429 4,689 (260)
Total licensing and collaboration revenue
$7,917 $30,919 $(23,002)
Research and Development Expenses
Research and development expenses increased by $18.9 million to $99.7 million for the nine months ended September 30, 2024, from $80.8 million for the nine months ended September 30, 2023. This increase was primarily related to (i) an increase of $5.9 million in other research and development expenses to advance preclinical and clinical research for our programs, as well as other consulting services related to research and development; (ii) a net increase of $4.9 million in external CMO and CRO activities for our clinical CAR-T cell therapy product candidates, driven by (a) an increase of $10.5 million in CRO activities for clinical trials; partially offset by (b) a decrease of $5.6 million due to timing of CMO activities; (iii) an increase of $4.6 million in personnel-related expenses, including stock-based compensation, due to headcount increases; (iv) an increase of $2.3 million in expenses related to licenses, sublicensing revenue, and milestones; and (v) an increase of $1.2 million in other facilities and allocated expenses.
General and Administrative Expenses
General and administrative expenses increased by $7.2 million to $36.0 million for the nine months ended September 30, 2024, from $28.7 million for the nine months ended September 30, 2023. This increase was primarily related to increases of $5.4 million in legal, and other service-related expenses, including $3.9 million of accrued costs for the securities litigation settlement and $2.7 million in personnel-related expenses, including stock-based compensation, due to headcount increases; partially offset by a decrease of $0.7 million in patent prosecution and maintenance costs.
Total Other Income
Total other income increased by $3.1 million for the nine months ended September 30, 2024, as compared to the nine months ended September 30, 2023.
We recognized a gain related to the change in the fair value of the MSKCC success payments liability in the amount of $1.9 million and $0.4 million, for the nine months ended September 30, 2024, and 2023, respectively.
Other income, net increased by $1.7 million during the nine months ended September 30, 2024, compared to September 30, 2023. This increase was primarily related to a $1.7 million increase in interest income earned from marketable securities.
Liquidity, Capital Resources, and Capital Requirements
Sources of Liquidity
Since our inception, we have not generated any revenue from product sales and have incurred significant operating losses and negative cash flows from our operations. We have funded our operations through sales of our capital stock, including sales of our convertible preferred stock, which generated approximately $150.1 million in aggregate net proceeds through 2021; from our initial public offering (“IPO”) in 2021, which generated approximately $321.0 million in net proceeds; and from our underwritten follow-on public offering in 2023, which generated approximately $134.4 million in net proceeds. We have also received approximately $88.4 million in net proceeds from the sale of Intellia common stock through 2020. Additionally, we received a $25.0 million equity investment from Pfizer through a private placement transaction in June 2023. Through September 30, 2024, we received approximately $99.8 million from licensing agreements, licensing and collaboration agreements, a service agreement, patent assignments, and government grants, including $36.7 million that we received from AbbVie under the now-terminated AbbVie Agreement.
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On August 9, 2022, we filed a universal shelf registration statement on Form S-3 (“Shelf Registration Statement”) with the SEC, which allows us to, from time to time, sell up to $400.0 million of common stock, preferred stock, debt securities, warrants, rights, or units comprised of any combination thereof (including the $100.0 million of common stock reserved for our at-the-market equity offering program). The Shelf Registration Statement was declared effective by the SEC on August 16, 2022.
On August 9, 2022, we entered into an at-the-market Open Market Sale AgreementSM (“ATM Sales Agreement”) with Jefferies LLC (“Jefferies”), pursuant to which, upon the terms and subject to the conditions and limitations set forth in the ATM Sales Agreement, we may, from time to time, in our sole discretion, issue and sell, through Jefferies, acting as sales agent, up to $100.0 million of our shares of common stock under the Shelf Registration Statement, by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) of the Securities Act. Jefferies uses commercially reasonable efforts consistent with its normal sales and trading practices to sell shares from time to time, based upon our instructions (including any price or size limits or other customary parameters or conditions we may impose). We pay Jefferies a commission equal to 3.0% of the aggregate gross proceeds of any shares sold through Jefferies pursuant to the ATM Sales Agreement. As of September 30, 2024, we have sold 1,762,806 shares of our common stock under the ATM Sales Agreement, at an average price per share of $7.32 for aggregate gross proceeds of $12.9 million ($12.3 million net of offering expenses).
In July and August 2023, we issued and sold a total of 22,115,384 shares of our common stock in an underwritten follow-on public offering at a price to the public of $6.50 per share, which included the full exercise of the underwriters’ right to purchase 2,884,615 additional shares of our common stock. The total gross proceeds from the offering were approximately $143.7 million ($134.4 million net of underwriting discounts and commissions and offering expenses). The shares were sold under the Shelf Registration Statement.

As of September 30, 2024, we had cash, cash equivalents, and marketable securities of $281.0 million. We will continue to be dependent upon equity financing, debt financing, collaboration and licensing arrangements, and/or other forms of capital raises at least until we are able to generate significant positive cash flows from our operations. We have no current ongoing material contractual commitments that are expected to affect our liquidity over the next five years, except for our lease commitments and payments under certain of our agreements with CMOs, suppliers, CROs, clinical trial sites, licensors, assignors, and the like. On April 22, 2024, we reached an agreement in principle with plaintiffs in the securities litigation to settle the case for $3.9 million and, on October 15, 2024, the court issued an order preliminarily approving the settlement pending a final settlement approval hearing. For information regarding our material contractual obligations and commitments and other contingencies, refer to Notes 4, 8, and 9 to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q.

Based on our current operating plan, we expect that our existing cash, cash equivalents, and marketable securities will be sufficient to fund our operations for at least the next 12 months from the date of this Form 10-Q. We have based these estimates on our current assumptions, which may require future adjustments based on our ongoing business decisions.
Strategic Investment

On June 29, 2023, we entered into a Securities Purchase Agreement with Pfizer Inc. (“Pfizer”) pursuant to which we issued and sold to Pfizer 4,690,431 shares of our common stock, par value $0.0001 per share, at a purchase price of $5.33 per share, for aggregate gross proceeds of approximately $25.0 million in a private placement transaction (“Pfizer Investment”). The issuance and sale of the shares to Pfizer closed on June 30, 2023. We granted certain registration rights to Pfizer under the Securities Purchase Agreement covering the resale of the shares. Unless otherwise agreed by Pfizer, we have agreed to use the proceeds from the Pfizer Investment solely in connection with (i) the development program for our allogeneic anti-BCMA CAR-T cell therapy known as CB-011 product candidate that is being evaluated in our CaMMouflage clinical trial and/or (ii) any other single-targeted anti-BCMA CAR-T cell therapy using an anti-BCMA single-chain variable fragment owned or controlled by us (collectively, cell therapies described in clauses (i) and (ii) are referred to as a “BCMA Product Candidate”), for 36 months beginning on June 29, 2023.
On June 29, 2023, in connection with the Pfizer Investment, we and Pfizer also entered into an Information Rights Agreement, having a 36-month term. Under the Information Rights Agreement, we granted Pfizer a 30 calendar day right of first negotiation if we commence or engage with any third party with respect to a potential grant of rights to develop and/or commercialize a BCMA Product Candidate, including, without limitation, a license agreement, a co-promotion/co-commercialization agreement, a profit share agreement, a joint venture agreement, or an asset sale agreement (a “Grant of Program Rights”). If we and Pfizer do not reach an agreement with respect to a Grant of Program Rights within the 30-day period, then we may pursue negotiations and enter into an agreement with any third party. If we and such third party do not
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reach agreement on the Grant of Program Rights within a specified time period, Pfizer’s right of first negotiation will be reinstated. Under the Information Rights Agreement, we also granted Pfizer the right to designate one representative to serve on our scientific advisory board. Through an information sharing committee, we provide calendar quarter updates to Pfizer regarding the development program for a BCMA Product Candidate. Additionally, we provide Pfizer access to any preclinical or interim or final clinical data (including raw data) and results generated as part of the development program for a BCMA Product Candidate at the same time that we provide such data to a third party (other than to our service providers or the FDA or other regulatory authorities), subject to certain confidentiality exceptions.
Funding Requirements
Our primary use of cash is to fund operating expenses and research and development expenditures. Cash used to fund operating expenses is impacted by the timing of when we pay these expenses, as reflected in the change in our outstanding accounts payable, accrued expenses, and prepaid expenses.
Our future funding requirements will depend on many factors, including the following:
•the initiation, progress, timing, costs, and results of preclinical studies and clinical trials for our product candidates;
•the clinical development plans we establish for our product candidates;
•the number and characteristics of the new product candidates that we develop;
•the outcome, timing, and cost of meeting regulatory requirements established by the FDA and other comparable foreign regulatory authorities;
•whether we enter into any collaboration agreements and the terms of any such agreements;
•the cost of filing and prosecuting our patent applications, and maintaining and enforcing our patents and other intellectual property rights;
•the extent to which we acquire or in-license other product candidates and/or new technologies;
•the cost of defending intellectual property disputes, including patent infringement actions brought by third parties against our products after we receive regulatory approval;
•the effect of competing technological and market developments;
•the cost and timing of completion of commercial-scale outsourced manufacturing activities;
•the cost and timing of completion of clinical-scale and commercial-scale internal manufacturing activities, if we elect to conduct these activities ourselves;
•increases in the number of our employees and expansion of our physical facilities to support growth initiatives;
•the cost of establishing sales, marketing, and distribution capabilities for any product candidates for which we may receive regulatory approval in regions where we choose to commercialize our products without a partner;
•the amount of revenue, if any, received from commercial sales of our product candidates, should any of our product candidates receive regulatory approval;
•the achievement of milestones or occurrence of other developments that trigger payments by or to third parties;
•our implementation of various computerized informational systems and efforts to enhance operational systems;
•the impact of public health crises or geopolitical events on our clinical development or operations;
•the impact of inflationary pressures on the cost of our operations; and
•the costs associated with being a public company.
Furthermore, our operating plans may change, and we expect to need additional funds to meet operational needs and capital requirements for clinical trials and other research and development expenditures.
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Because of the numerous risks and uncertainties associated with the development of human therapeutics, we may never achieve profitability and, unless and until we are able to develop and commercialize our product candidates, we will need to continue to raise additional capital; however, funding may not be available to us on acceptable terms, or at all. If we are unable to obtain adequate financing when needed, we may have to delay, reduce the scope of, or suspend one or more of our preclinical studies, clinical trials, research and development programs, and/or commercialization efforts. We may seek to raise any necessary additional capital through a combination of equity offerings (including our at-the-market equity offering program), debt financings, collaborations and strategic alliances, licensing arrangements, or other sources. If we raise additional capital through debt financing, we may be subject to covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures, or declaring dividends. If we raise additional capital through the sale of equity or convertible debt securities, the issuance of these securities could result in dilution to our stockholders. If we raise additional capital through marketing and distribution arrangements or other collaborations, strategic alliances, or licensing arrangements with third parties or other sources, we may have to relinquish certain valuable rights to our product candidates, technologies, future revenue streams, or research programs or grant licenses on terms that may not be favorable to us.
Cash Flows
Comparison of the Nine Months Ended September 30, 2024, and 2023
The following table summarizes our cash flows for the periods indicated:
Nine Months Ended September 30,
20242023
Change
(in thousands)
Cash used in operating activities$(102,730)$(71,912)$(30,818)
Cash provided by (used in) investing activities70,677 (36,709)107,386 
Cash provided by financing activities12,861 154,341 (141,480)
Net (decrease) increase in cash, and cash equivalents, and restricted cash$(19,192)$45,720 $(64,912)
Cash Used in Operating Activities
Net cash used in operating activities was $102.7 million and $71.9 million for the nine months ended September 30, 2024, and 2023, respectively.
Cash used in operating activities for the nine months ended September 30, 2024, was primarily due to our net loss of $113.6 million, adjusted by non-cash charges of $11.7 million and net changes in our operating assets and liabilities of $0.8 million. Our non-cash charges were primarily comprised of (i) $12.8 million of stock-based compensation, (ii) $2.7 million of depreciation and amortization expense, (iii) $1.7 million of non-cash lease expense, and (iv) $1.6 million of acquired in-process research and development; which were partially offset by (i) accretion of discounts on our marketable securities investments of $3.7 million, (ii) change in the fair value of the MSKCC success payments liability of $1.9 million, and (iii) non-cash consideration for licensing and collaboration revenue of $1.6 million. The changes in our operating assets and liabilities were primarily due to (i) increases of $3.2 million in other assets and $0.4 million in prepaid expenses and other current assets, and (ii) decreases of $2.2 million in deferred revenue, current and long-term and $0.5 million in operating lease liabilities; partially offset by (i) decreases of $0.6 million in other receivables and $0.6 million in contract assets, and (ii) an increase of $4.3 million in accrued expenses and other current liabilities.
Cash used in operating activities for the nine months ended September 30, 2023, was primarily due to our net loss of $67.6 million, adjusted by non-cash charges of $8.0 million and net changes in our operating assets and liabilities of $12.3 million. Our non-cash charges were primarily comprised of (i) $10.2 million of stock-based compensation, (ii) $2.8 million of depreciation and amortization expense, and (iii) non-cash lease expense of $1.6 million; which were partially offset by (i) accretion of discounts on investments of $6.0 million, and (ii) change in the fair value of the MSKCC success payments liability of $0.4 million. The changes in our operating assets and liabilities were primarily due to an increase in accounts receivable of $0.9 million and decreases of $16.3 million in deferred revenue, current and long-term, and $0.3 million in operating lease liabilities; partially offset by (i) decreases in prepaid expenses and other current assets of $0.9 million, contract assets of $0.6 million, and (ii) increases of $2.8 million in accrued expenses and other current liabilities, and $1.1 million in accounts payable.
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Cash Provided by Investing Activities
During the nine months ended September 30, 2024, cash provided by investing activities was $70.7 million, and during the nine months ended September 30, 2023, cash used in investing activities was $36.7 million.
Cash provided by investing activities for the nine months ended September 30, 2024, was primarily due to proceeds from the maturities of marketable securities of $325.6 million; partially offset by purchases of marketable securities of $248.9 million, property and equipment of $4.4 million, and in-process research and development of $1.6 million.
Cash used in investing activities for the nine months ended September 30, 2023, was primarily due to purchases of marketable securities of $310.6 million and property and equipment of $9.3 million; partially offset by proceeds from the sales and maturities of marketable securities of $283.2 million.
Cash Provided by Financing Activities
During the nine months ended September 30, 2024, and 2023, cash provided by financing activities was $12.9 million and $154.3 million, respectively.
Cash provided by financing activities for the nine months ended September 30, 2024, was primarily due to net proceeds from our at-the-market equity offering program of $11.3 million, the issuances of common stock under the 2021 Employee Stock Purchase Plan (“ESPP”) of $0.9 million, and the exercises of stock options of $0.6 million.
Cash provided by financing activities for the nine months ended September 30, 2023, was primarily due to $134.5 million of net proceeds from our underwritten follow-on public offering, $17.3 million of net proceeds allocated to the issuances of common stock in a private placement transaction with Pfizer, net proceeds from our at-the-market equity offering program of $1.0 million, and the exercises of stock options and the issuances of common stock under the ESPP of $1.5 million.
Critical Accounting Policies and Significant Judgments and Estimates
Our critical accounting policies are disclosed in our audited consolidated financial statements for the year ended December 31, 2023, and the related notes included in our Form 10-K. Since the date of such financial statements, there have been no material changes to our significant accounting policies. There have been no material changes to our critical accounting estimates as compared to those disclosed in our Form 10-K.
Recently Issued Accounting Pronouncements
See Note 2 to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q for more information regarding recently issued accounting pronouncements.
Emerging Growth Company and Smaller Reporting Company Status
We are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. We have elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that we (a) are no longer an emerging growth company or (b) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, our unaudited condensed consolidated financial statements may not be comparable to those of companies that comply with the new or revised accounting pronouncements as of public company effective dates.
We expect to use the extended transition period for any other new or revised accounting standards during the period in which we remain an emerging growth company.
We are also a “smaller reporting company.” If we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting company, we may choose to present only the two most recent fiscal years of audited consolidated financial statements in our Form 10-K and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation.
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Item 3. Quantitative and Qualitative Disclosures about Market Risk.
There have been no material changes to our market risk during the nine months ended September 30, 2024. For a discussion of our exposure to market risk, refer to the section titled “Quantitative and Qualitative Disclosures About Market Risk” in our Form 10-K.
Item 4. Controls and Procedures.
Management’s Evaluation of our Disclosure Controls and Procedures
We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and (ii) accumulated and communicated to our management, including our principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure.
As of September 30, 2024, our management, with the participation of our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act). Our management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives, and our management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Our principal executive officer and principal financial officer have concluded that, based upon the evaluation described above, as of September 30, 2024, our disclosure controls and procedures were effective.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting identified in management’s evaluation pursuant to Rules 13a-15(f) or 15d-15(f) under the Exchange Act during the three months ended September 30, 2024, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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PART II—OTHER INFORMATION
Item 1. Legal Proceedings.
From time to time, we may become involved in litigation arising in the ordinary course of business. Regardless of the outcome, litigation can have a material adverse effect on us due to defense and settlement costs, diversion of our management resources, and other factors.
On April 11, 2023, a putative class action lawsuit was filed in the U.S. District Court for the Northern District of California against our company and certain of our officers and current and former members of our board of directors, Bergman v. Caribou Biosciences, Inc., et al., Case Number 23-cv-01742 (“Bergman Case”). The Bergman complaint challenged disclosures regarding our company’s business, operations, and prospects, specifically with respect to the alleged durability of CB-010’s therapeutic effect and the product candidate’s clinical and commercial prospects, in alleged violation of Sections 11 and 15 of the Securities Act and Sections 10(b) and 20(a) of the Exchange Act. On September 18, 2023, plaintiffs filed an amended complaint adding the IPO underwriters as defendants and making substantially the same allegations as the original complaint. On November 14, 2023, we filed a motion to dismiss the amended complaint for failure to state a claim. Motion to dismiss briefing was completed on February 21, 2024. On April 22, 2024, we reached an agreement in principle with plaintiffs to settle the Bergman Case for $3.9 million in exchange for a full release of the putative class’s claims against us and all our current and former officers, current and former members of our board of directors, the IPO underwriters, and the other named defendant. The parties filed a settlement agreement with the court on June 26, 2024, and, on October 15, 2024, the court issued an order preliminarily approving the settlement and setting a final settlement approval hearing for February 18, 2025.
Item 1A. Risk Factors.
There have been no material changes to the Risk Factors previously disclosed in Item 1A. to Part I of our Form 10-K. The risks described in our Form 10-K are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition, and/or operating results.
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities.
Unregistered Sales of Equity Securities for the Three Months Ended September 30, 2024

There were no unregistered sales of equity securities during the three months ended September 30, 2024.
Use of Proceeds from our IPO
The net proceeds from our IPO, after deducting underwriting discounts and commissions and offering expenses of $28.6 million, were $321.0 million. We are holding a significant portion of the remaining balance of the net proceeds from our IPO in money market mutual funds, U.S. Treasury bills, corporate debt securities, and U.S. government agency bonds. There has been no material change in our planned use of the net proceeds from our IPO described in the final prospectus for our IPO filed on July 23, 2021, with the SEC pursuant to Rule 424(b)(4) of the Securities Act.
Item 5. Other Information.
On August 13, 2024, Tina Albertson, M.D., Ph.D., our chief medical officer, entered into a Rule 10b5-1 trading arrangement (as that term is defined in Regulation S-K, Item 408) that is intended to qualify as an “eligible sell-to-cover transaction” (as described in Rule 10b5-1(c)(1)(ii)(D)(3) under the Exchange Act) and is intended to satisfy the affirmative defense in Rule 10b5-1(c) under the Exchange Act. This sell-to-cover arrangement applies to restricted stock units or performance-based stock units (collectively, “RSUs”), whether vesting is based on the passage of time and/or the achievement of performance goals, that were previously granted or that could in the future be granted by us from time to time. This arrangement provides for the automatic sale of shares of common stock that would otherwise be issuable on each settlement date of a covered RSU in an amount necessary to satisfy the applicable tax withholding obligations, with the proceeds of the sale delivered to us in satisfaction of the applicable tax withholding obligations. The number of shares of common stock that will be sold under these arrangements is not currently determinable as the number will vary based on the extent to which vesting conditions are satisfied, the market price of our common stock at the time of settlement, and the
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potential future grant of RSUs subject to this arrangement. The sell-to-cover instructions will remain in place indefinitely unless revoked in writing (including as to any particular sell-to-cover sale) in accordance with their terms.
On September 6, 2024, City Canyon Family Trust, a trust for which Rachel Haurwitz, Ph.D., our president and chief executive officer and a member of our Board of Directors, is a co-trustee along with her husband, adopted a Rule 10b5-1 trading arrangement, providing for the sale from time to time of up to 540,000 shares of common stock in amounts and at prices determined in accordance with plan terms. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c) under the Exchange Act. The duration of the trading arrangement is until December 12, 2025, or earlier if all transactions under the trading arrangement are completed.
Except as described above, no other director or Section 16 officer adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as that term is defined in Regulation S-K, Item 408) during the quarter ended September 30, 2024.
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Item 6. Exhibits.
Exhibit
Number
Description
3.1
3.2
4.1
10.1+*
10.2+*
31.1*
31.2*
32.1**
32.2**
101.INS*Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document.
101.SCH*Inline XBRL Taxonomy Extension Schema Document
101.CAL*Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE*Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*Cover Page Interactive Data File (embedded within the Inline XBRL document)
______________________________________________
*Filed herewith.
**Furnished herewith.
+     Indicates management contract or compensatory plan

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Caribou Biosciences, Inc.
Date: November 6, 2024
By: /s/ Rachel E. Haurwitz
Rachel E. Haurwitz
President and Chief Executive Officer
(Principal Executive Officer)
Date: November 6, 2024
By:
 /s/ Ryan Fischesser
Ryan Fischesser
Vice President of Finance and Controller
(Principal Financial Officer and Principal Accounting Officer)
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