Caribou plunges as it explores sale, scraps cancer programs
CRBU•Caribou Biosciences said it is exploring strategic alternatives, including a potential sale or merger, and plans to discontinue its vispa-cel and CB-011 cancer programs. Shares fell 35.9% to 72 cents premarket.
1. Strategic review and cuts
Caribou said it is exploring strategic alternatives, including a potential sale, merger or other transaction, and plans to discontinue development of its allogeneic CAR-T programs vispa-cel for non-Hodgkin lymphoma and CB-011 for multiple myeloma. The company also plans job cuts, with most workforce reductions expected to be completed in the fourth quarter of 2026; it had $113.8 million in cash, cash equivalents and marketable securities as of June 30.
