Caribou Biosciences Abandons Two CAR-T Programs, Cuts Staff; Shares Plummet

Caribou Biosciences, Inc. (CRBU), a clinical-stage CRISPR genome-editing biopharmaceutical company, said it will discontinue development of two allogeneic CAR-T cell therapy programs: vispa-cel for relapsed or refractory B-cell non-Hodgkin lymphoma and CB-011 for relapsed or refractory multiple myeloma.

Vispa-cel had reached pivotal-trial readiness, and the company had already agreed with the FDA on a Phase 3 trial design.

The company will also discontinue clinical development and significantly reduce its workforce, with most layoffs expected by the fourth quarter of 2026.

Caribou cited a challenging financing environment for allogeneic CAR-T therapies that has made it increasingly difficult to raise the capital needed to advance these programs. Consequently, it plans to evaluate strategic alternatives.

Its Board of Directors approved a strategic review process that may include a merger, acquisition, business combination, or other transactions involving the company or its assets.

Wedbush Securities has been retained as the company’s exclusive financial adviser for the review.

Caribou has not established a timeline for completing the strategic review.

As of June 30, 2026, the company had $113.8 million in cash, cash equivalents, and marketable securities.

CRBU shares have traded between $1.13 and $3.53 over the past year. The stock closed Tuesday at $1.13, down 4.62%, and fell 39.49% to $0.68 in overnight trading.

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