Caribou Biosciences said it is exploring strategic alternatives and will discontinue its two donor-derived allogeneic CAR-T programs, including vispa-cel for relapsed or refractory B-cell non-Hodgkin lymphoma and CB-011 for relapsed or refractory multiple myeloma. The company cited difficulty securing capital for allogeneic CAR-T advancement despite FDA alignment on vispa-cel’s Phase 3 design. Caribou reported cash, cash equivalents and marketable securities of $113.8 million as of June 30, 2026, and said workforce and cost reductions will follow the development halt. The board-authorized review includes potential mergers, acquisitions and other strategic transactions, though no timeline was provided. The move underscores tighter risk appetite for late-stage allogeneic cell therapy financing, even where regulators have already aligned on trial design, and it spotlights how platform players are reprioritizing capital in response to funding constraints.