Caribou Biosciences moved to wind down its allogeneic CAR-T programs and cut workforce after failing to secure financing to complete late-stage plans. The company said it will discontinue vispa-cel for relapsed or refractory B-cell non-Hodgkin lymphoma and CB-011 for relapsed or refractory multiple myeloma while pursuing strategic alternatives, citing a tougher capital environment for allogeneic cell therapy development. The decision follows prior FDA alignment on the vispa-cel Phase 3 trial design, leaving Caribou without the funding needed to responsibly advance the trial. Caribou also disclosed $113.8 million in cash and marketable securities as of June 30, 2026, and said cost and workforce reductions are expected to be mostly completed in Q4 2026. In parallel, a separate update indicates continued uncertainty around CAR-T financing and operational timelines across the category, reinforcing that clinical readiness alone may not be enough to secure trial funding at scale.