Carisma Therapeutics Q1 net loss widens to $24.6M; cash post-merger $139M

Carisma Therapeutics Inc.

2023-Q1 EPS reported -$1.93 revenue$3,243,000

Net loss of $24.6M in Q1 2023, vs $11.3M in Q1 2022, driven by higher R&D and G&A expenses.
Cash, cash equivalents and marketable securities of $139.0M as of March 31, 2023, vs $52.0M at Dec 31, 2022.
Merger with Sesen Bio closed; net assets acquired $80.3M, concurrent financing raised $30.6M.
Initiated Phase 1 sub-study of CT-0508 + KEYTRUDA; IND for CT-0525 expected H2 2023.
R&D expenses $16.6M (up from $8.8M) and G&A expenses $9.6M (up from $2.2M) vs prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Carisma Therapeutics Inc. reported first quarter ended March 31, 2023 results: net income Net loss was $24.6 million for the first quarter of 2023.

Period: first quarter ended March 31, 2023
Net income: Net loss was $24.6 million for the first quarter of 2023
Result: reported results

Exact text from the filing

Net loss was $24.6 million for the first quarter of 2023, compared to net loss of $11.3 million for the same period in 2022, primarily due to increased research and development expenses, which was partially offset by Moderna collaboration revenue.

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Source: SEC EDGAR

accession 0001104659-23-059817

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