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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BUZZ-Caribou shares plunge as company explores sale and cancels cancer project
October 7 - ** Caribou Biosciences (CRBU.O) shares fell 35.9% in pre-market trading to $0.72 ** Caribou Biosciences announced late Tuesday that it is exploring strategic options, including a potential sale, merger, or other transactions, to maximize shareholder value ** Caribou said it plans to halt development of its allogeneic CAR-T cell therapy programs, including vispa-cel for non-Hodgkin lymphoma and CB-011 for multiple myeloma ** Caribou also stated it will lay off employees and cut costs, with most layoffs expected to be completed by Q4 2026 ** As of June 30, the company held $113.8 millions in cash, cash equivalents, and marketable securities ** As of the previous trading day's close, the company's share price had dropped about 28% year-to-date (Note: For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translations may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them only for reader convenience. Reuters assumes no responsibility for any damages or losses resulting from the use of automated translation features.)
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Power Root bought back 134,300 ordinary shares on Oct. 7, 2026, paying MYR 147,891.13. Purchases were priced between MYR 1.08 and MYR 1.12; all shares were retained as treasury stock. Treasury shares rose to 16,051,800, representing 3.78% of issued shares. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Power Root Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3712895) on October 07, 2026, and is solely responsible for the information contained therein.
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