{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-015713","form_type":"8-K","ticker":null,"cik":"0001966494","company_name":"CARGO Therapeutics, Inc.","filed_at":"2025-01-29T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.673991+00:00","generated_at":"2026-05-27T07:28:12.380528+00:00","sec_items":["2.05"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"CARGO Therapeutics cuts workforce ~50%, ends firi-cel Phase 2 study","bullets":["Workforce reduction of approximately 50% approved by board on Jan 28, 2025.","Expected total charges of $31M-$37M: severance $4-5M, contract termination $20-22M, wind-down costs $7-10M; most in Q1 2025.","Discontinues FIRCE-1 Phase 2 study of firicabtagene autoleucel (firi-cel).","Will continue CRG-023 Phase 1 proof-of-concept and allogeneic platform; evaluating strategic options.","Combined expense reductions expected to extend cash runway to mid-2028."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-015713","json":"https://secwatch.observer/filing/0001193125-25-015713.json","markdown":"https://secwatch.observer/filing/0001193125-25-015713.md","text":"https://secwatch.observer/filing/0001193125-25-015713.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525015713/0001193125-25-015713-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525015713/d931594d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-27T07:28:12.380528+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b5fa4752b0fc5be39adcb25a50ff73d49e205755","claim":"CARGO Therapeutics, Inc. announced a restructuring with charges of between $31 million to $37 million in total affecting the discontinuation of the clinical development of firi-cel (approximately 50%).","evidence_excerpt":"clinical development of firi-cel, is expected to extend the Company’s cash runway to mid-2028. In connection with these actions, the Company expects to incur expense of between $31 million to $37 million in total, a substantial portion of which we expect to recognize during the first quarter of 2025. The anticipated expense includes: severance, benefits, payroll","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525015713/0001193125-25-015713-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"between $31 million to $37 million in total"},{"label":"Affected area","value":"the discontinuation of the clinical development of firi-cel"},{"label":"Headcount","value":"approximately 50%"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}