CAR-T biotech Caribou Biosciences is slashing staff and halting its pipeline, the article reports.

The company, co-founded by CRISPR pioneer Jennifer Doudna, cited severe capital constraints.

It will discontinue ongoing cell therapy trials and wind down related laboratory work.

Leadership called the downsizing a heartbreaking step needed to extend the corporate runway.

CRBU stock crashed about 35 percent in premarket trading after the announcement.

Major banks slashed valuation targets by as much as 90 percent, according to market coverage.

Active research programs were shelved to conserve cash as venture and equity funding froze.

Analysts warn other clinical-stage cell therapy firms may face similar defensive cuts.

Read the full article for more details on Caribou's CAR-T retreat.