July 6 Quick Takes: Caribou shares get boost as Pfizer invests

Caribou Biosciences Inc. (NASDAQ:CRBU) disclosed a $25 million equity investment from Pfizer Inc. (NYSE:PFE) that it intends to use to continue clinical studies of two gene-edited CAR T therapies, and advance a third toward IND. The company’s CB-010 and CB-011 target CD19 and BCMA, respectively, and are in Phase I trials to treat hematological malignancies. Behind them in the pipeline is preclinical therapy CB-012, which targets CLL1. Pfizer bought 4.7 million shares at $5.33 in a deal that closed June 30; on Thursday, Caribou gained 46% to $5.94.

Zolbetuximab from Astellas Pharma Inc. (Tokyo:4503) has become the first CLDN18.2 inhibitor under FDA review, and with a PDUFA date of Jan. 12, 2024, could be the first to reach the market. FDA granted priority review to the antibody to treat HER2-negative, CLDN18.2-positive gastric or gastroesophageal junction cancer. The therapy met the primary endpoints of two Phase III studies. Astellas sees zolbetuximab as a key part of its strategic portfolio, upon which it is relying to diversify beyond Xtandi enzalutamide ahead of its patent expirations later this decade...