** Shares of drug developer Cargo Therapeutics CRGX.O rise 21% to $4.60 premarket
** On Tuesday, co said it is reducing its workforce by about 90%
** CRGX appointed Anup Radhakrishnan as interim CEO to lead the co through a potential merger or acquisition
** As of December 31, 2024, co had about 167 full-time employees - SEC filing
** Co also said it is stopping its experimental cancer therapy, CRG-023, and allogeneic platform
** Earlier this year, co halted a mid-stage trial for cancer treatment
** CRGX has $368.1 million in cash, as of December 31, 2024
** CRGX fell 36.5% last year
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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