Caribou falls after scrapping cell therapy programs, launches strategic review
BUZZ-Caribou falls after scrapping cell therapy programs, launches strategic review ** Shares of biotech firm Caribou Biosciences CRBU.O fall 36.1% to $0.73 in extended trading
** Co says it is exploring a potential sale, merger or other options to unlock value for shareholders
** Co plans to discontinue development of experimental cell therapies vispa-cel for a type of blood cancer and CB-011 for multiple myeloma, a bone marrow cancer
** Vispa-cel was trial-ready, with FDA alignment already reached for a late-stage trial design, co says
** Says challenging funding conditions for allogeneic CAR-T therapies made it difficult to secure capital needed to advance the programs
** Caribou plans workforce and cost cuts; had $113.8 mln in cash, cash equivalents and marketable securities as of June 30, 2026, the company reports
** As of last close, stock down ~29% YTD
(Reporting by Sahil Pandey in Bengaluru)