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. (formerly traded on Nasdaq under the symbol CRGX) generated news primarily as a clinical-stage biotechnology company working on next-generation cell therapies for cancer patients and, later, through its strategic review and acquisition. Company press releases and filings describe CARGO as focused on CAR T‑cell therapies and related platform technologies designed to address limitations of approved cell therapies, including durability of effect, safety concerns and unreliable supply.
Historically, CRGX news items covered clinical and scientific developments such as the potentially pivotal Phase 2 FIRCE‑1 study of firicabtagene autoleucel (firi‑cel), a CD22‑targeting autologous CAR T‑cell therapy candidate for large B‑cell lymphoma after CD19 CAR T‑cell therapy, and preclinical and program updates on CRG‑023, a tri‑specific CAR T targeting CD19, CD20 and CD22. Additional coverage highlighted CARGO’s novel allogeneic platform, which the company described as a universal vector solution intended to limit immune‑based rejection and enable durable responses for CAR T‑cell therapy.
News flow also included corporate and strategic milestones. These ranged from financial updates and conference presentations to major decisions such as the discontinuation of the FIRCE‑1 Phase 2 study, suspension of development operations, workforce reductions, and the evaluation of strategic options. Subsequent announcements detailed CARGO’s entry into a merger agreement with Concentra Biosciences, LLC, the tender offer for CARGO’s common stock, and the completion of the merger that resulted in CARGO becoming a wholly owned subsidiary of Concentra.
For readers researching CRGX news, this page serves as an archive of those historical developments, spanning clinical trial updates, preclinical data disclosures, corporate strategy shifts, and the sequence of events that culminated in the acquisition, delisting from Nasdaq, and deregistration of CARGO’s common stock.
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.
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.
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.
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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