Tekedia Capital says lofty AI private valuations clash with more cautious IPO market

October 7 - ** Caribou Biosciences (CRBU.O) shares fell 35.9% in pre-market trading to $0.72 ** Caribou Biosciences announced late Tuesday that it is exploring strategic options, including a potential sale, merger, or other transactions, to maximize shareholder value ** Caribou said it plans to halt development of its allogeneic CAR-T cell therapy programs, including vispa-cel for non-Hodgkin lymphoma and CB-011 for multiple myeloma ** Caribou also stated it will lay off employees and cut costs, with most layoffs expected to be completed by Q4 2026 ** As of June 30, the company held $113.8 millions in cash, cash equivalents, and marketable securities ** As of the previous trading day's close, the company's share price had dropped about 28% year-to-date (Note: For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translations may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them only for reader convenience. Reuters assumes no responsibility for any damages or losses resulting from the use of automated translation features.)