By Kelly Cloonan
Caribou Biosciences plans to trim its workforce and shift its pipeline as it looks to focus on its lead oncology programs.
The Berkeley, Calif.-biopharmaceutical company on Thursday said it plans to reduce its workforce by about 32%. Such cuts would amount to roughly 47 employees, based on the total workforce of 147 full-time employees according to its latest annual filing.
The company is also discontinuing preclinical research as well as Phase 1 trials of treatments for lupus and relapsed or refractory acute myeloid leukemia.
Caribou Biosciences expects cash payments from the workforce reduction and strategic pipeline prioritization to total $2.5 million to $3.5 million.
The changes will extend Caribou's cash runway by one year, funding the current operating plan into the second half of 2027, it said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 24, 2025 17:08 ET (21:08 GMT)
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