Caribou Biosciences Halts Two CAR-T Programs, Cuts Jobs; CRBU Plunges 39% After Hours

Caribou Biosciences Inc. (CRBU) said it will discontinue development of its two allogeneic CAR-T cell therapy programs — vispa-cel for relapsed or refractory B-cell non-Hodgkin lymphoma and CB-011 for r/r multiple myeloma — and significantly reduce its workforce, most of the cuts expected by the fourth quarter of 2026. The company said the current financing environment for allogeneic CAR-T therapies has made securing capital increasingly difficult. Its board approved a process to evaluate strategic alternatives, including a merger, acquisition or business combination. Wedbush Securities was retained as exclusive financial adviser; no timeline was set. Vispa-cel had been pivotal-trial ready, with Phase 3 design already aligned with the FDA. CRBU fell 39.49% to $0.68 in overnight trading after closing Tuesday at $1.13, down 4.62%. Shares have traded between $1.13 and $3.53 over the past year. Caribou reported $113.8 million in cash, cash equivalents and marketable securities as of June 30, 2026.