HomeTrending StocksWhy Caribou Biosciences Inc. (CRBU) stock surged in the after-hours after a...

Why Caribou Biosciences Inc. (CRBU) stock surged in the after-hours after a poor start on Monday?

Caribou Biosciences Inc. (CRBU) shares surged 2.07% in after-hours on Monday, November 22, 2021, and closed the daily trading at $19.25. However, CRBU’s stock lost 11.37% in the regular trading session. The stock volume remained 0.5 million shares. CRBU shares have moved down by 13.21% in the past week. Over the past three months, the stock has lost 32.33%. The company has a current market of $1.10 billion and its outstanding shares stood at 45.89 million.

Let’s discuss its recent news and developments.


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CRBU upcoming events

Caribou Biosciences Inc will participate in Piper Sandler 33rd Annual Virtual Healthcare Conference which is to be held on November 30 – December 2, 2021.

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CRBU will also take part in Evercore ISI 4th Annual HealthCONx Conference, which is scheduled for November 30 – December 2, 2021.

CRBU latest financial results

On November 09, 2021, Caribou Biosciences, Inc. (CRBU), announced its financial results for the third quarter of 2021.

Q3 2021 financial highlights

  • CRBU reported total collaboration revenue of $4.0 million for the third quarter of 2021, compared to $1.2 million for the third quarter of 2020.
  • Research and development expenses were $15.8 million in Q3 2021 compared to $6.2 million in the third quarter of 2020.
  • General and administrative expenses were $6.8 million in Q3 2021, compared to $3.2 million in Q3 2020.
  • It suffered a net loss of $21.0 million in Q3 2021 compared to $7.9 million in Q3 2020.
  • As of September 30, 2021, the company had cash and cash equivalents of $435.3 million.

CRBU new appointments

On November 08, 2021, Caribou Biosciences, Inc. (CRBU), appointed Dara Richardson-Heron, M.D., to its board of directors and Ruhi Khan as its chief business officer.

Dr. Richardson-Heron has 25 years of leadership experience in the healthcare, corporate, nonprofit, and government sectors. Ms. Khan brings over 20 years of business development and investment management experience focused on the biotechnology and pharmaceutical industries.

Earlier on September 29, 2021, the company appointed Ran Zheng to its board of directors. Ms. Zheng has 25 years of biotechnology industry leadership experience in biologics drug development.

CRBU participation in the recent conference

Caribou Biosciences, Inc. recently participated at the Barclays Gene Editing & Gene Therapy Summit, which was held on November 15, 2021.

Earlier, CRBU also participated at Jefferies Gene Therapy/Editing Summit, which was held on Wednesday, October 27, 2021.

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Conclusion

Well, we have no recent news to justify its poor start on Monday and later minor recovery in the after-hours. We hope that it will continue its positive momentum on Tuesday.

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