Caribou Biosciences moved to discontinue its donor-derived CAR-T programs, saying it cannot raise enough capital to fund a late-stage path. The decision covers vispa-cel for relapsed or refractory B-cell non-Hodgkin lymphoma and CB-011 for relapsed or refractory multiple myeloma, after the company had aligned with the FDA on a Phase 3 trial design for vispa-cel. In a separate update, Caribou said its board is exploring strategic alternatives and will implement workforce and cost reductions. The company reported $113.8 million in cash and equivalents as of June 30, 2026. The development underscores how even FDA-aligned late-stage planning can be derailed by financing conditions in allogeneic CAR-T, a segment that has seen investor caution as development costs rise.