Caribou plunges as it explores sale, scraps cancer programs
07/10/2026 10:28
BUZZ-Caribou plunges as it explores sale, scraps cancer programs ** Shares of Caribou Biosciences CRBU.O fall 35.9% to 72 cents premarket
** Caribou Biosciences said late on Tuesday it was exploring strategic alternatives, including a potential sale, merger or other transaction to maximize shareholder value
** Caribou said it planned to discontinue development of its allogeneic CAR-T cell therapy programs, vispa-cel for non-Hodgkin lymphoma and CB-011 for multiple myeloma
** Caribou said it would cut jobs and reduce costs, with most workforce reductions expected to be completed in Q4 2026
** It had $113.8 million in cash, cash equivalents and marketable securities as of June 30
** As of last close, stock fell ~28% YTD
(Reporting by Kamal Choudhury in Bengaluru)