Caribou Biosciences said it is shutting down after failing to secure sufficient capital to fund a late-stage clinical trial of its off-the-shelf CAR-T therapy for lymphoma. The company announced it is shelving its two allogeneic CAR-T programs—vispa-cel and CB-011—and reducing workforce costs as it evaluates strategic alternatives. Caribou previously worked with the FDA to finalize Phase 3 trial design for vispa-cel, but it said the financing environment for allogeneic CAR-T therapies made it difficult to raise the capital needed to responsibly advance the programs. The move highlights how manufacturing- and trial-cost intensity can still dominate clinical momentum, even when regulators are aligned on protocol design.