Cargo Therapeutics to Cut Workforce by 50%, Discontinue Lymphoma Treatment Study -- Shares Down Pre-Bell

MT Newswires Live

Jan 30, 2025

Cargo Therapeutics (CRGX) said Wednesday that it will discontinue the phase 2 study of firicabtagene autoleucel, or firi-cel, for patients with large B-cell lymphoma, and reduce its workforce by about 50% to preserve cash for the development of other product candidates.

The company said results from an ad-hoc analysis of the phase 2 study data "do not support a competitive benefit-risk profile" of firi-cel for the target patient population. The company will focus instead on advancing CRG-023 and its allogeneic platform, while evaluating its strategic options.

Cargo Therapeutics said it targets to start enrollment for a phase 1 dose escalation study on CRG-023 in Q2.

Cargo Therapeutics shares were down more than 74% in recent premarket activity Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2507649162"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2507649162\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2507649162?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-01-30 19:14","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2507649162","market":"fut","top_or_hot":-1,"title":"Cargo Therapeutics to Cut Workforce by 50%, Discontinue Lymphoma Treatment Study -- Shares Down Pre-Bell","media":"MT Newswires Live","content":"<html><body><p> Cargo <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> (CRGX) said Wednesday that it will discontinue the phase 2 study of firicabtagene autoleucel, or firi-cel, for patients with large B-cell lymphoma, and reduce its workforce by about 50% to preserve cash for the development of other product candidates.</p><p>The company said results from an ad-hoc analysis of the phase 2 study data \"do not support a competitive benefit-risk profile\" of firi-cel for the target patient population. The company will focus instead on advancing CRG-023 and its allogeneic platform, while evaluating its strategic options.</p><p>Cargo Therapeutics said it targets to start enrollment for a phase 1 dose escalation study on CRG-023 in Q2.</p><p>Cargo Therapeutics shares were down more than 74% in recent premarket activity Thursday.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cargo Therapeutics to Cut Workforce by 50%, Discontinue Lymphoma Treatment Study -- Shares Down Pre-Bell</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCargo Therapeutics to Cut Workforce by 50%, Discontinue Lymphoma Treatment Study -- Shares Down Pre-Bell\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-01-30 19:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Cargo <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> (CRGX) said Wednesday that it will discontinue the phase 2 study of firicabtagene autoleucel, or firi-cel, for patients with large B-cell lymphoma, and reduce its workforce by about 50% to preserve cash for the development of other product candidates.</p><p>The company said results from an ad-hoc analysis of the phase 2 study data \"do not support a competitive benefit-risk profile\" of firi-cel for the target patient population. The company will focus instead on advancing CRG-023 and its allogeneic platform, while evaluating its strategic options.</p><p>Cargo Therapeutics said it targets to start enrollment for a phase 1 dose escalation study on CRG-023 in Q2.</p><p>Cargo Therapeutics shares were down more than 74% in recent premarket activity Thursday.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2507649162","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2507649162","pubTimestamp":1738235676,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Cargo Therapeutics  said Wednesday that it will discontinue the phase 2 study of firicabtagene autoleucel, or firi-cel, for patients with large B-cell lymphoma, and reduce its workforce by about 50% to preserve cash for the development of other product candidates.The company said results from an ad-hoc analysis of the phase 2 study data \"do not support a competitive benefit-risk profile\" of firi-cel for the target patient population. The company will focus instead on advancing CRG-023 and its allogeneic platform, while evaluating its strategic options.Cargo Therapeutics said it targets to start enrollment for a phase 1 dose escalation study on CRG-023 in Q2.Cargo Therapeutics shares were down more than 74% in recent premarket activity Thursday.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","LENZ":"Therapeutics","CRGX":"CARGO Therapeutics"},"translate_title":"Cargo Therapeutics将裁员50%，停止淋巴瘤治疗研究——盘前股价下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CRGX":0.9,"LENZ":1},"content_text":"Cargo Therapeutics (CRGX) said Wednesday that it will discontinue the phase 2 study of firicabtagene autoleucel, or firi-cel, for patients with large B-cell lymphoma, and reduce its workforce by about 50% to preserve cash for the development of other product candidates.The company said results from an ad-hoc analysis of the phase 2 study data \"do not support a competitive benefit-risk profile\" of firi-cel for the target patient population. The company will focus instead on advancing CRG-023 and its allogeneic platform, while evaluating its strategic options.Cargo Therapeutics said it targets to start enrollment for a phase 1 dose escalation study on CRG-023 in Q2.Cargo Therapeutics shares were down more than 74% in recent premarket activity Thursday.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}