Caribou halts allogeneic CAR-T programs, cuts workforce; explores strategic alternatives

Caribou's Board approved discontinuation of its two lead allogeneic CAR-T programs (vispa-cel and CB-011), a substantial workforce reduction, and initiated a formal process to explore strategic alternatives including merger, acquisition, or asset sale due to constrained financing conditions for CAR-T therapies. The company expects $15–19 million in restructuring charges and a CFO departure contingent on deal execution, signaling material business contraction and likely equity dilution or loss of value in any transaction.

Caribou is shutting down its main drug programs and cutting most of its staff because it can't raise enough money, and is now shopping itself for a sale or merger, which typically hurts existing shareholders.