Caribou Biosciences Investors Drop Suit Over Cell Therapy, Cash

Caribou Biosciences, Inc. investors dropped their lawsuit alleging the biopharmaceutical company overhyped its lead cancer therapy candidate’s efficacy and competitiveness while it risked running out of cash to operate.

Judge Vince Chhabria approved the lead plaintiffs’ voluntary dismissal, with the ability to refile, on Tuesday. The proposed class action would’ve covered those who got Caribou stock from July 14, 2023, through July 16, 2024—the day Caribou said it stopped research activities of a different platform and cut 12% of its workforce to extend its cash runway in a federal filing, which caused a 3% stock drop, per the complaint ...