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CARGO Therapeutics, Inc. - CRGX STOCK NEWS

Welcome to our dedicated page for CARGO Therapeutics news (Ticker: CRGX), a resource for investors and traders seeking the latest updates and insights on CARGO Therapeutics stock.

CARGO Therapeutics, Inc. (NASDAQ: CRGX) is a clinical-stage biotechnology company dedicated to advancing next-generation, potentially curative cell therapies for cancer patients. The company focuses on the development of innovative CAR T-cell therapies designed to address the key limitations of currently approved treatments, such as limited durability of effect, suboptimal safety, and unreliable supply chains.

Core Business: CARGO Therapeutics' lead program, CRG-022, is a novel CAR T-cell product candidate targeting CD22, a tumor antigen expressed in the majority of B-cell malignancies. This program aims to overcome resistance mechanisms, especially in patients whose disease has relapsed or is refractory to CD19 CAR T-cell therapies.

Recent Achievements: In a transformative year, CARGO expanded its leadership team, commenced a Phase 2 clinical trial of CRG-022, and became a publicly traded company. The Phase 2 trial, known as FIRCE-1, investigates CRG-022 in patients with relapsed or refractory large B-cell lymphoma (LBCL) who have progressed after CD19-directed therapy.

Current Projects: The company is currently running a potentially pivotal Phase 2 clinical study for CRG-022, with interim results expected in the first half of 2025. Additionally, a Phase 1 trial conducted by Stanford University has shown promising results, with a complete response rate of 52% at the current dose level.

Financial Condition and Partnerships: CARGO has fortified its financial position through successful private financing and an IPO. The company collaborates with leading institutions like Stanford University to further its research and development efforts.

Products and Pipeline: Beyond CRG-022, CARGO is leveraging its cell engineering platform to develop a pipeline of therapies incorporating multiple transgene therapeutic 'cargo' aimed at enhancing CAR T-cell persistence and trafficking to tumor lesions, as well as combating tumor resistance and T-cell exhaustion.

For more information, please visit the CARGO Therapeutics website and follow them on LinkedIn and Twitter (@CARGOTx).

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CARGO Therapeutics announced that data from their Phase 1 clinical study of Firi-cel CAR T-cell therapy has been published in The Lancet. The study focused on patients with relapsed or refractory large B-cell lymphoma (LBCL) who did not respond to CD19 CAR T-cell therapy. Results showed a 68% overall response rate (ORR) and a 53% complete response (CR) rate, with a median follow-up of 23.3 months.

Notably, 36% of patients previously refractory to all therapies achieved CR. The selected dose for the Phase 2 study, DL1, had a 66% ORR and a 52% CR rate, showing an estimated one- and two-year survival rate of 57% and 52%, respectively. The therapy showed no severe cytokine release syndrome or immune effector cell-associated neurotoxicity syndrome.

These results underscore the promising efficacy and safety profile of firi-cel, which has received Breakthrough Therapy Designation from the FDA. The ongoing Phase 2 study, FIRCE-1, is on track for interim analysis in the first half of 2025.

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CARGO Therapeutics has appointed Jane Pritchett Henderson as an Independent Director to its Board. Henderson brings extensive experience in healthcare investment banking and executive leadership in biotech companies.

She will also serve on the audit and compensation committees. This appointment comes as CARGO advances its Phase 2 clinical study for the CAR T-cell therapy candidate, firicabtagene autoleucel (firi-cel), and progresses the CRG-023 program incorporating tri-specific CAR T-cells with CD2 co-stimulation.

Henderson has a strong background in finance and operations, having held key roles at Apogee Therapeutics, Adagio Therapeutics, Turnstone Biologics, and Voyager Therapeutics. Her current board positions include Akero Therapeutics and Ventus Therapeutics.

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CARGO Therapeutics (NASDAQ: CRGX) announced its participation in two major investor conferences: the TD Cowen 5th Annual Oncology Innovation Summit and the Jefferies Global Healthcare Conference. Gina Chapman, President and CEO, will take part in virtual fireside chats on May 28 and June 5, respectively. These events will provide insights into the company's advancements in next-generation cell therapies for cancer. Webcasts of the presentations will be available on CARGO's website under the News & Events section, with replays accessible for 30 days post-event.

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CARGO Therapeutics announced a $110 million private placement equity financing, involving new and existing investors like EcoR1 Capital, Woodline Partners, and Novo Holdings. This funding supports the BLA preparation for the Phase 2 FIRCE-1 study of firicabtagene autoleucel (CRG-022) and IND-enabling studies for CRG-023. The financing is expected to extend CARGO's cash runway through 2026. The private placement, set to close on May 30, 2024, involves the sale of 6,471,000 shares at $17.00 per share, in accordance with Nasdaq rules. Jefferies, TD Cowen, and Piper Sandler acted as joint placement agents for this transaction.

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CARGO Therapeutics (NASDAQ: CRGX) released its Q1 2024 financial results and business update. The FIRCE-1 Phase 2 clinical study of firicabtagene autoleucel (firi-cel) is advancing with 26 sites activated and over 20 patients dosed, with interim results expected in 1H25. The Independent Data Monitoring Committee (IDMC) recommended the study continue without modifications. Data from the Stanford Phase 1 study, to be presented at the 2024 EHA Congress, shows a median overall survival of 25.7 months and favorable safety at the dose level selected for Phase 2. CARGO’s cash position is $375.9 million, providing runway into 2026. R&D expenses for Q1 2024 were $30.5 million, and G&A expenses were $10.3 million, leading to a net loss of $35.8 million or $0.87 per share.

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CARGO Therapeutics appoints Kapil Dhingra, M.B.B.S., a seasoned oncology leader, to its Board of Directors, bringing extensive clinical development experience in oncology and cell therapy. Dr. Dhingra's appointment strengthens the company's expertise as it advances its lead CAR T-cell therapy candidate, firi-cel (CRG-022).
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CARGO Therapeutics, Inc. provided a business update and reported financial results for the quarter ending December 31, 2023. The potentially pivotal Phase 2 clinical study FIRCE-1 of firicabtagene autoleucel (CRG-022) is rapidly recruiting with 20 sites open, with interim results expected in 1H 2025. The Phase 2 trial aims to evaluate the efficacy and safety of firi-cel in patients with relapse or refractory large B-cell lymphoma after CD19-directed CAR T-cell therapy. CARGO highlighted successful private financing and IPO, raising $291.0 million in net proceeds, and being added to the Russell 2000® Index. Financially, the company had $405.7 million in cash and cash equivalents as of December 31, 2023, expecting to fund operations through 2025. Research and development expenses were $27.1 million for Q4 2023, with a net loss of $32.1 million for the same period.
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CARGO Therapeutics, Inc. (CRGX) will participate in the 44th Annual Cowen Healthcare Conference to discuss cell therapies for cancer patients. Gina Chapman, the CEO, will join a panel on March 6, 2024, at 9:10 a.m. EST. The webcast will be available on CARGO's website.
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CARGO Therapeutics, Inc. (NASDAQ: CRGX) to Present at 42nd Annual J.P. Morgan Healthcare Conference
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CARGO Therapeutics, Inc. (Nasdaq: CRGX) reported business updates and financial results for Q3 2023. The company began a Phase 2 clinical trial of CRG-022, a potentially pivotal CAR T-cell therapy for R/R LBCL patients. CARGO also raised $291 million in an IPO, strengthened its leadership team, and entered into a lease agreement for lab and office space in San Carlos, California.
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FAQ

What does CARGO Therapeutics specialize in?

CARGO Therapeutics specializes in developing next-generation, potentially curative CAR T-cell therapies for cancer patients.

What is CRG-022?

CRG-022 is CARGO's lead CAR T-cell product candidate targeting CD22, designed to treat patients with relapsed or refractory large B-cell lymphoma.

What recent milestones has CARGO Therapeutics achieved?

CARGO has commenced a Phase 2 clinical trial for CRG-022, expanded its leadership team, and successfully completed an IPO.

What are the results from the Phase 1 clinical trial of CRG-022?

The Phase 1 trial showed a complete response rate of 52% for CRG-022, with 73% of patients maintaining a complete response for at least 12 months.

When are interim results for the Phase 2 trial expected?

Interim results for the Phase 2 trial of CRG-022 are anticipated in the first half of 2025.

What types of cancer does CARGO focus on?

CARGO focuses on treating B-cell malignancies, particularly large B-cell lymphoma (LBCL), using its CAR T-cell therapies.

How does CRG-022 work?

CRG-022 targets the CD22 antigen on B-cells, aiming to treat patients whose disease has relapsed or is refractory to CD19 CAR T-cell therapy.

What makes CARGO's CAR T therapies unique?

CARGO's therapies incorporate multiple transgene therapeutic 'cargo' to enhance CAR T-cell persistence, trafficking, and combat tumor resistance and T-cell exhaustion.

Who are CARGO Therapeutics' partners?

CARGO collaborates with leading institutions like Stanford University to advance its research and development efforts.

Where can I find more information about CARGO Therapeutics?

More information is available on the CARGO Therapeutics website and on their LinkedIn and Twitter (@CARGOTx) profiles.

CARGO Therapeutics, Inc.

Nasdaq:CRGX

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Research and Development in Biotechnology
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