Carisma Therapeutics (CARM) said late Monday that its board approved a revised operating plan to evaluate alternatives while reducing operational cash burn.
The company said it has reduced its workforce, retaining only those deemed essential to "pursue strategic alternatives." It has cut operations to core functions necessary to support the strategic review.
With these actions, the company estimates it has enough cash and cash equivalents to fund operations into H2.
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.