BUZZ-Cargo Therapeutics hits record low on cancer drug trial halt

Reuters

01-30

BUZZ-Cargo <a href="https://laohu8.com/S/LENZ">Therapeutics</a> hits record low on cancer drug trial halt

** Shares of drug developer Cargo Therapeutics CRGX.O fall 77.4% to record low of $2.99

** On Wednesday, CRGX said it is stopping a mid-stage trial for cancer treatment

** Trial was stopped due to serious side effects in some patients, including a severe inflammatory condition - CRGX

** CRGX has $368.1 million in cash and expects it to last until mid-2028

** CRGX also said it is reducing its workforce by about 50%

** As of Sept. 30, 2024, co had 170 full-time employees - SEC filing

** CRGX fell 36.5% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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