Carisma Therapeutics Inc. (CARM): restructuring charge — Carisma terminates Novartis manufacturing deal for CT-0508; pays $4M fee, suspends Phase 1 enrollment

Carisma Therapeutics Inc.

Terminated Manufacturing and Supply Agreement with Novartis for CT-0508; effective July 31, 2024.
Will pay $4.0M termination fee to Novartis in Q3 2024, with potential credit if Substitute Product transferred by Dec 31, 2024.
Suspends enrollment of new patients in Phase 1 trial for CT-0508 to focus ex vivo oncology on follow-on candidate CT-0525.
Revised operating plan narrows pipeline, prioritizing CT-0525 over CT-0508.

item 2.05

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

Carisma Therapeutics Inc. announced a restructuring with charges of $4.0 million.

Type: restructuring
Charge: $4.0 million

Exact text from the filing

the Company will incur a termination fee equal to $4.0 million (the “Termination Fee”), which is expected to be paid in the third quarter of 2024

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Carisma Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-077372

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