Caribou Biosciences to halt CAR-T programs, explore sale

Caribou Biosciences, Inc. (Nasdaq: CRBU) announced it is exploring strategic alternatives, including a potential merger, acquisition, or business combination, and plans to discontinue its two allogeneic CAR-T cell therapy programs.

The Berkeley, California-based company said its board of directors approved initiating the review process and has engaged Wedbush Securities Inc. as its exclusive financial advisor. Caribou said it has not set a timeline for completing the review and does not intend to provide updates unless a course of action is approved or other disclosure is required.

The company plans to halt clinical development of vispa-cel, an allogeneic anti-CD19 CAR-T cell therapy for relapsed or refractory B cell non-Hodgkin lymphoma, and CB-011, an allogeneic anti-BCMA CAR-T cell therapy for relapsed or refractory multiple myeloma. Caribou said vispa-cel had reached FDA alignment on a phase 3 clinical trial design prior to the decision.

Rachel Haurwitz, president and CEO, cited financing conditions as a primary factor. "The current financing environment for allogeneic CAR-T cell therapies has made it increasingly challenging to secure the capital necessary to responsibly advance these programs," she said in the statement.

Caribou said it will implement a substantial workforce reduction expected to be mostly complete in the fourth quarter of 2026. As of June 30, 2026, the company held $113.8 million in cash, cash equivalents, and marketable securities.

The FDA had granted both vispa-cel and CB-011 Regenerative Medicine Advanced Therapy, Fast Track, and Orphan Drug designations. The information in this article is based on a press release issued by Caribou Biosciences.

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