Caribou Biosciences Inc. plans to fund ongoing drug studies with proceeds from an initial public offering filed with the Securities and Exchange Commission on Thursday, July 1st.
Caribou has stated four planned uses for proceeds from the IPO. One of the uses will be to advance the clinical development of the company’s clinical phase candidate targeting CD19 and has PD-1 deleted by CRISPR genome editing with initial data from the study expected in 2022. Furthermore, they will fund IND-enabling activities and the potential launch of clinical studies for CB-011 and CB-012.
The company did not set a price or a date for the offering yet. However, they are expecting their new shares to trade on Nasdaq Global Select Market under the symbol CRBU. Moreover, the join…