---
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"
generated_at: "2026-05-27T07:28:12.380528+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CARGO Therapeutics cuts workforce ~50%, ends firi-cel Phase 2 study

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-015713
- form_type: 8-K
- cik: 0001966494
- company_name: CARGO Therapeutics, Inc.
- filed_at: 2025-01-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-015713
- JSON: https://secwatch.observer/filing/0001193125-25-015713.json
- Plain text: https://secwatch.observer/filing/0001193125-25-015713.txt

## Key facts
- Restructurings & Charges
  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%).
  - Type: restructuring
  - Charge: between $31 million to $37 million in total
  - Affected area: the discontinuation of the clinical development of firi-cel
  - Headcount: approximately 50%
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1966494/000119312525015713/0001193125-25-015713-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.