Ahmad Bilal Caribou Biosciences ( NASDAQ: CRBU ) has discontinued preclinical work on its allogeneic CA-NK platform and cut roughly 12% of its workforce, which is expected to extend its cash runway into the second half of 2026 and allow it to focus on other drug development programs. The biotech company said it eliminated 21 jobs and estimates it will incur around $500K to $1M in associated costs, which it expects to recognize in Q3, according to an SEC filing . The company added it expects to report that it had $311.
8M in cash and equivalents at the end of June. Caribou is expected to release its Q2 earnings report on Aug. 8.
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43M beats by $0.01M Seeking Alpha’s Quant Rating on Caribou Bioscience.
