BUZZ - Caribou shares fall after discontinuing cell therapy program and launching strategic review
路透社2026/10/06 21:03On October 6th, shares of biotech company Caribou Biosciences (CRBU.O) fell by 36.1% in after-hours trading to $0.73. The company announced it is exploring potential sale, merger, or other options to unlock shareholder value. Caribou plans to discontinue the development of its experimental cell therapy vispa-cel for a certain blood cancer, as well as CB-011 for treating the bone marrow cancer—multiple myeloma. The company stated that vispa-cel is ready for clinical trials, and it has reached an agreement with the FDA on the design for late-stage clinical trials. However, the difficult financing environment for allogeneic CAR-T therapies has made it challenging to raise the necessary funds to advance these projects. Caribou also intends to lay off employees and cut costs; according to its report, as of June 30, 2026, the company held $113.8 million in cash, cash equivalents, and marketable securities. As of the previous trading day’s close, the stock had fallen about 29% year-to-date. (For the convenience of non-English speakers, Reuters provides automated translation of its reports into several languages. As automated translations may contain errors or lack context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for reader convenience. Reuters assumes no liability for any harm or loss from use of the automated translation feature.)
October 6 - ** Biotechnology company Caribou Biosciences CRBU.O shares fell 36.1% in after-hours trading, to $0.73
** The company announced it is exploring potential sale, merger, or other options to unlock shareholder value
** The company plans to cease development of the experimental cell therapy vispa-cel for a type of blood cancer, as well as CB-011 for treating multiple myeloma, a bone marrow cancer
** The company stated that vispa-cel is ready for clinical trials and that it has reached agreement with the US Food and Drug Administration (FDA) on the design for advanced clinical trials
** The company noted that the harsh funding environment for allogeneic CAR-T therapies makes it difficult to raise the funds needed to advance these projects
** Caribou plans to cut staff and reduce costs; according to the company report, as of June 30, 2026, it held $113.8 million in cash, cash equivalents, and marketable securities
** As of the close of the last trading session, the stock had fallen about 29% year to date
(To assist non-native English speakers, Reuters has automatically translated this report into several other languages. As automated translation may be inaccurate or may not fully capture the intended context, Reuters does not guarantee the accuracy of this automated translation, which is provided solely for the convenience of readers. Reuters accepts no liability for any damages or losses arising from the use of the automated translation feature.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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