Carisma Therapeutics reports $86.9M net loss; prioritizes CT-0525, cuts workforce 37%

Carisma Therapeutics Inc.

2024-Q1 EPS reported -$0.46 revenue$3,400,000

Cash of $77.6M as of Dec 31, 2023, expected to fund operations into Q3 2025 after restructuring.
R&D expenses were $74.1M in 2023 (up from $56.6M); net loss $86.9M vs $61.2M in 2022.
Prioritizing CT-0525 (anti-HER2 CAR-Monocyte); ceasing new enrollment in CT-0508 study; pausing CT-1119.
Workforce reduction of ~37% in Q2 2024 as part of pipeline reprioritization and cost savings.
Appointed John Hohneker, M.D. to board, effective April 1, 2024; Chidozie Ugwumba resigned.

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 financial results for fourth quarter and full year ended December 31, 2023.

Period: fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On April 1, 2024, Carisma Therapeutics Inc. (the “Company”) announced its financial results for the quarter and year ended December 31, 2023.

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Carisma Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-041568

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