BUZZ-Caribou Biosciences rises on job cuts, shifts focus to cancer therapies

Reuters
04-25
BUZZ-<a href="https://laohu8.com/S/CRBU">Caribou Biosciences</a> rises on job cuts, shifts focus to cancer therapies

** Shares of Caribou Biosciences CRBU.O rise 3% to 89 cents in extended trading

** Co says it is reducing workforce by 32% to extend its cash runway into H2 of 2027; as of March 31, co had about $212.5 mln in cash

** CRBU had 147 full-time employees as of March 1 - SEC filing

** Co says it will prioritize two cancer therapy programs, CB-010 and CB-011

** Also says it is stopping work on lupus and leukemia treatment trials

** As of last close, stock down 45% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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