Latest news with #CRG-023
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
URGENT: The M&A Class Action Firm Launches Legal Inquiry for the Merger
NEW YORK, July 25, 2025 /PRNewswire/ — Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the 'M&A Class Action Firm'), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating CARGO Therapeutics, Inc. (NASDAQ: CRGX) related to its sale to Concentra Biosciences, LLC for $4.379 in cash per CARGO share, plus one non-transferable contingent value right, representing the right to receive: (i) 100% of the closing net cash of CARGO in excess of $217.5 million; and (ii) 80% of the net proceeds from the sale, license, or other disposition of either (a) CRG-022, a CDRR CAR T-cell therapy, or (b) CRG-023, a CD19/CD20/CD22 tri-specific CAR T therapy, or (c) the Allogeneic Platform, that occurs within 2 years following the closing. Click here for more information It is free and there is no cost or obligation to you. Hudson Global, Inc. (HSON) related to its merger with Star Equity Holdings, Inc. Upon completion of the proposed transaction, Hudson shareholders will own approximately 79% of the combined company. ACT NOW. The Shareholder Vote is scheduled for August 21, 2025. Click here for more information It is free and there is no cost or obligation to you. Breeze Holdings Acquisition Corp. (OTC: BRZH), relating to its proposed merger with YD Biopharma Limited. Under the terms of the agreement, all Breeze Holdings ordinary shares will be converted into the right to receive one ordinary share of the surviving company. ACT NOW. The Shareholder Vote is scheduled for August 14, 2025. Click here for more information It is free and there is no cost or obligation to you. Enzo Biochem, Inc. (OTCMKTS: ENZB) related to its sale to Battery Ventures for $0.70 per share in cash without interest to Enzo shareholders. ACT NOW. The Shareholder Vote is scheduled for August 19, 2025. Click here for more information It is free and there is no cost or obligation to you. NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask: Do you file class actions and go to Court? When was the last time you recovered money for shareholders? What cases did you recover money in and how much? About Monteverde & Associates PC Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. No company, director or officer is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@ or by telephone at (212) 971-1341. Contact:Juan Monteverde, & ASSOCIATES PCThe Empire State Building350 Fifth Ave. Suite 4740New York, NY 10118United States of Americajmonteverde@ (212) 971-1341 Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC ( Prior results do not guarantee a similar outcome with respect to any future matter.
Yahoo
19-03-2025
- Business
- Yahoo
CARGO Stock Surges 19% Pre-Market After Suspending Development, Cutting 90% of Workforce
CARGO Therapeutics (CRGX, Financials) saw its stock jump 18.9% pre-market to $4.52 on Wednesday after announcing it would suspend development of its CRG-023 product and allogeneic platform, along with cutting approximately 90% of its workforce to preserve cash and seek a strategic business combination. Warning! GuruFocus has detected 2 Warning Signs with CRGX. The decision follows the company's discontinuation of the Phase 2 FIRCE-1 study for firicabtagene autoleucel, according to a statement. Anup Radhakrishnan has been appointed interim chief executive officer to lead the company's efforts in pursuing a reverse merger or other transaction. CARGO has engaged investment bank TD Cowen as its exclusive strategic financial advisor, the company said in a statement. As of December 31, 2024, CARGO held $368.1 million in cash, cash equivalents, and marketable securities. The company said the job cuts and development suspension aim to maximize value for shareholders while aiming to find a permanent home for remaining assets. Based in San Carlos, California, CARGO has been researching next-generation cell treatments aimed at B-cell malignancies. The business has a universal allogeneic CAR T platform in addition to CRG-023, a tri-specific CAR T-cell treatment aiming at CD19, CD20, and CD22. Neither a chronology for a prospective deal nor specifics on probable purchasers for the company's assets were given. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
29-01-2025
- Business
- Yahoo
CARGO Therapeutics to Discontinue FIRCE-1 Phase 2 Study of Firi-cel; Advances Remaining Programs While Evaluating Strategic Options
CARGO elects to discontinue FIRCE-1, a Phase 2 clinical study of firicabtagene autoleucel (firi-cel)1; Company believes results do not support a competitive benefit-risk profile for patients. CARGO to implement a workforce reduction of approximately 50%. Phase 1 dose escalation study enrollment for CRG-023 on track to initiate in Q2 2025. SAN CARLOS, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) -- CARGO Therapeutics, Inc. (Nasdaq: CRGX), a clinical-stage biotechnology company advancing next generation, potentially curative cell therapies for cancer patients, today announced that it has elected to discontinue FIRCE-1, a Phase 2 clinical study of firi-cel for patients with large B-cell lymphoma (LBCL) whose disease relapsed or was refractory (R/R) to CD19 CAR T-cell therapy. In-line with this decision, the Company will reduce its workforce to extend cash runway and prioritize the advancement of CRG-023 to Phase 1 proof-of-concept data as well as its novel allogeneic platform. Based on an ad hoc analysis of FIRCE-1 prompted by recent safety events, the Company believes the results do not support a competitive benefit-risk profile of firi-cel for the intended patient population. While data from 51 patients with at least one post baseline scan demonstrated an overall response rate of 77% and complete response rate (CR) of 43%, the durability of CR at three months was 18%. Safety data indicated 18% of patients developed immune effector cell-associated hemophagocytic lymphohistiocytosis-like syndrome (IEC-HS) that were grade 3 or higher, including grade 4 and grade 5 serious adverse events. IEC-HS is a toxicity that is associated with CAR T-cell therapy and firi-cel in other clinical studies. The Company is implementing a workforce reduction of approximately 50% to preserve cash. Further, CARGO will continue to advance CRG-023, its tri-specific CAR T, into a Phase 1 dose escalation study and its allogeneic platform to lead vector candidate selection while evaluating its strategic options. With preliminary cash, cash equivalents and marketable securities of $368.1 million(2) as of December 31, 2024, the Company expects its cash runway to be extended into mid-2028. 'We are disappointed with these unexpected results from our Phase 2 study. Durability of complete response is an important clinical goal for LBCL patients who are R/R to CD19 CAR T-cell therapy. Combined with a higher-than-expected occurrence and severity of IEC-HS, the data generated so far does not meet our expectations of a competitive benefit-risk profile for patients in the context of available treatment options. Therefore, we believe it is in the best interest of both patients and shareholders to discontinue the study,' said Gina Chapman, President and Chief Executive Officer of CARGO Therapeutics. 'While we continue to advance CRG-023 into the clinic this year and progress our novel allogeneic platform, we will also evaluate our strategic options. We are grateful for the patients, caregivers and families who were involved in the FIRCE-1 study, as well as the investigators who partnered closely with us and with whom we look forward to continuing to collaborate. I'd also like to recognize and thank all of our employees at CARGO, including those being impacted by today's decision, who have worked tirelessly on behalf of patients and made meaningful contributions to our Company's mission.' CARGO intends to present an analysis of the FIRCE-1 Phase 2 study at a future medical conference. About CARGO Therapeutics CARGO Therapeutics, Inc. is a clinical-stage biotechnology company advancing next-generation, best-in-class, and potentially curative cell therapies for cancer patients. CARGO's programs, platform technologies, and manufacturing strategy are designed to directly address the limitations of approved cell therapies, including limited durability of effect, safety concerns and availability. CARGO has a focused pipeline that includes its CRG-023 product candidate, a CD19/CD20/CD22 tri-specific CAR T developed using a tri-cistronic construct and designed to address several known causes of relapse, resulting in a potential best-in-class CAR T-cell therapy across a broad range of B-cell malignancies with the goal of providing more patients with a durable complete response. CARGO's latest program advancement, a novel allogeneic platform, is a universal vector solution designed to limit immune-based rejection and enable durable response of CAR T-cell therapy. The universal allogeneic-enabling vector is intended to be paired with any CAR vector to create an allogeneic CAR T-cell therapy, with the potential to maintain the efficacy, durability, and safety of autologous cell therapy while broadening availability to more people with cancer. CARGO's leadership and team have significant experience in designing, developing and delivering oncology and cell therapy products. For more information, please visit the CARGO Therapeutics website at Follow us on LinkedIn: CARGO TherapeuticsFollow us on X (Twitter): @CARGOTx (1) Firicabtagene autoleucel (firi-cel) is CARGO Therapeutics' autologous CD22 CAR T-cell product candidate. The underlying CAR of which CARGO exclusively in-licensed from the National Cancer Institute was the construct evaluated by Stanford Medicine in a Phase 1 clinical trial in patients with large B-cell lymphoma whose disease relapsed or was refractory to CD19 CAR T-cell therapy. CARGO's firi-cel Investigational New Drug application included a comprehensive package in which CARGO performed and demonstrated analytical comparability of CRG-022 produced using the intended commercial process to the CRG-022 produced using the process used for the Stanford Phase 1 clinical trials. CARGO cannot assure that the FDA will agree with its claim of comparability and the sufficiency of the data to support it when it files its Biologics License Application. (2) The Company's actual consolidated cash, cash equivalents, marketable securities as of December 31, 2024 may differ from this preliminary estimate due to the completion of the Company's year-end closing and auditing procedures. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as 'aim,' 'anticipate,' 'assume,' 'believe,' 'contemplate,' 'continue,' 'could,' 'design,' 'due,' 'estimate,' 'expect,' 'goal,' 'intend,' 'may,' 'objective,' 'plan,' 'positioned,' 'potential,' 'predict,' 'seek,' 'should,' 'target,' 'will,' 'would' and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. All statements other than statements of historical facts contained in this press release are forward-looking statements. These forward-looking statements include, but are not limited to, statements about: the indication, timing, progress, advancement and results of CARGO's clinical and preclinical programs; CARGO's strategic plans for its business and product candidates, including its ongoing evaluation of strategic options; the Company's expectations and estimates regarding the planned reduction in force and discontinuation of the clinical development of firi-cel; and CARGO's estimated cash, cash equivalents and marketable securities as of December 31, 2024 and CARGO's expectations that its current cash, cash equivalents and marketable securities will be sufficient to fund its expected operations into mid-2028. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to: the Company's ability to obtain necessary capital to fund its clinical programs; the early stages of clinical development of the Company's product candidates and the product candidates involving novel technologies; clinical and preclinical development being a lengthy and expensive process with uncertain outcomes; data from the Company's clinical trials and preclinical studies, including the performance and characteristics of the Company's product candidates, including any undesirable side effects or other properties discovered or detected in the Company's clinical trials and preclinical studies; the Company's ability to obtain regulatory approval of and successfully commercialize its product candidates, if approved; the Company's reliance on third-party suppliers and manufacturers, including CROs; the outcomes of future collaboration agreements; and the Company's ability to adequately maintain intellectual property rights for its product candidates. For a detailed discussion of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to CARGO's business in general, please refer to the risk factors identified in the Company's filings with the Securities and Exchange Commission, including but not limited to its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 filed on November 12, 2024. Any forward-looking statements that the Company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Media Contact:Denise Powelldenise@ Investor Contact:Jessica Serra jserra@ Laurence Wattslaurence@
