Caribou Biosciences, Inc. specializes in developing genome-edited cell therapies, focusing primarily on its leading product, CB-010.

Currently, CB-010 is undergoing a phase 1 clinical trial aimed at treating large B cell non-Hodgkin's lymphoma.

However, the company recently faced a significant 26% decline in its share price, driven by concerns over the efficacy of its lead therapy and ongoing financial issues.

A proposed class action lawsuit claims that Caribou concealed the risk of running out of cash necessary to sustain its operations.

Filed on December 24, 2024, in the US District Court for the Northern District of California, the lawsuit alleges that Caribou and two former executives misrepresented the company's financial health.