Caribou Biosciences Inc. (NASDAQ:CRBU) shares fell 35.07% to $0.74 in after-hours trading Tuesday after the company announced it is exploring strategic alternatives and plans to discontinue its two cell therapy programs.
Caribou Biosciences is a clinical-stage CRISPR genome-editing biopharmaceutical company.
Strategic Alternatives, Program Discontinuation
Caribou’s Board of Directors approved initiating a process to evaluate strategic alternatives, including a potential merger, acquisition or other strategic transaction involving the company and/or its assets, according to a press release. Wedbush Securities Inc. has been engaged as the company’s exclusive financial advisor for the process. Caribou said it has not set a timeline for completing the review and does not plan to provide further updates until the board approves a course of action or the process concludes.
In conjunction with the announcement, Caribou plans to discontinue further development of vispa-cel and CB-011, its two allogeneic CAR-T cell therapy programs, and implement a substantial workforce reduction expected to be mostly complete in the fourth quarter of 2026.
“This is an extraordinarily difficult decision, particularly because it is in no way a reflection of our belief that vispa-cel and CB-011 have the potential to benefit patients,” said Rachel Haurwitz, president and CEO of Caribou. She said the current financing environment for allogeneic CAR-T cell therapies had made it “increasingly challenging to secure the capital necessary to responsibly advance these programs.”
As of June 30, 2026, Caribou had $113.8 million in cash, cash equivalents and marketable securities.
Trading Metrics, Technical Analysis
Caribou Biosciences has a market capitalization of approximately $124.75 million.
Over the past year, Caribou Biosciences shares have fallen 53.29%.
The stock has traded between a 52-week high of $3.53 and a 52-week low of $1.13.
Benzinga’s Edge Stock Rankings show a negative price trend across short-, medium- and long-term time frames.
Price Action: In the regular session, Caribou Biosciences shares fell 4.62% to close at $1.14 on Tuesday.
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