Just caught Caribou's Q4 numbers and they actually beat expectations pretty solidly. Loss per share came in at $0.28 versus the consensus estimate of $0.33, so that's a 14% surprise to the upside. Revenue hit $3.94M, crushing the estimate by over 56%. Pretty impressive considering they were doing $2.08M a year ago.

What caught my eye is that Caribou has now beaten earnings estimates 3 times in the last four quarters. Stock's up about 13% since the start of the year, which is way better than the S&P's 0.4% gain. That's the kind of outperformance you notice.

That said, the biotech sector is currently ranked in the bottom 46% of industries according to Zacks, so there's headwinds there. The next quarter's looking at an expected loss of $0.36 per share on $2.5M revenue, so we'll see if they can keep this momentum going. Management's guidance on the earnings call will probably matter more than anything else at this point.

Another biotech name worth watching is CytomX Therapeutics, which is expected to report next month. They're projecting a $0.08 loss per share, but revenues are expected to drop 80% year-over-year, so that one's a different story entirely.