Caribou Biosciences said it will discontinue two allogeneic CAR-T programs and pursue strategic alternatives after failing to secure financing for planned late-stage development. The board-approved process includes options ranging from mergers and acquisitions to other asset transactions. The company highlighted FDA alignment on the phase 3 trial design for vispa-cel, but said the current financing environment for allogeneic CAR-T therapies made capital access “increasingly challenging.” It also cited cost and workforce reductions alongside the development halt. For the sector, the move underscores a tightening funding backdrop for off-the-shelf cell therapies and may force competitors to re-evaluate timelines, capital structure, and manufacturing risk as they prepare for pivotal studies.