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Why Caribou Biosciences Stock Is Crashing Today
CRBUCaribou Biosciences(CRBU) The Motley Fool·2024-03-12 16:37

Shares of Caribou Biosciences (CRBU -24.03%) were crashing 19.7% lower as of 11:13 a.m. ET on Tuesday. The big sell-off came after the biotech provided its fourth-quarter update on Monday.Caribou reported fourth-quarter licensing revenue of $3.6 million and a net loss of $34.5 million. However, the big story with the clinical-stage biotech's quarterly update was the pause in developing allogeneic cell therapy CB-020. How worrisome is Caribou Biosciences' development pause?It's not surprising that Caribou's ...